Saylor's Strategy Buys $1.3 Billion Worth of Bitcoin, XRP's Key Indicators Hint Rebound, Dogecoin Volume up 87%

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Analytics

Strategy (MSTR) buys $1.3 billion worth of Bitcoin

Strategy has significantly expanded its digital asset treasury, acquiring 17,994 Bitcoin for approximately $1.28 billion.

Strategy has extended its relentless Bitcoin ($BTC) buying spree by purchasing an additional $1.28 billion worth of Bitcoin. This comes after Michael Saylor, the company's executive chairman, teased the purchase on Thursday.

According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the corporate intelligence and software firm acquired 17,994 Bitcoin ($BTC) between March 2 and March 8. Its average purchasing price was $70,946 per $BTC.

With this latest purchase, Strategy's total aggregate Bitcoin holdings have reached a staggering 738,731 $BTC.

During the same March 2 to March 8 window, the company raised approximately $1.276 billion in net proceeds through the sale of both common and preferred stock.

Dogecoin volume up 87%

$DOGE is showing resilience, with early rebound signs from a golden cross setup.

Dogecoin has formed a golden cross as the asset shows signs of rebounding from its weekly low. The meme coin has been on a decline in the last seven days amid broader market fluctuations. This technical signal suggests a bullish recovery for $DOGE.

The formation of a golden cross indicates that the short-term moving average has crossed over the long-term one. This technical signal is often interpreted by traders as a buy signal for a potential price increase for an asset.

CoinMarketCap data shows that Dogecoin moved from a daily low of $0.08744 to hit a peak of $0.09157. As of this writing, Dogecoin is exchanging hands at $0.09039, which represents a 1.13% increase in the last 24 hours.

The trading volume has soared by a massive 87.16% to $1.12 billion within the same time frame. The uptick is primarily driven by a derivatives-led volume surge and whale accumulation. A notable whale reportedly bet $359,000 long on $DOGE on Binance futures.

$XRP's key indicators converge

$XRP might find its footing for a recovery in a few weeks as converging moving averages create bounce conditions.

$XRP has spent the past several months moving inside a persistent downtrend, but the recent price structure suggests that the selling pressure may be weakening. The asset is currently compressing close to the $1.34 mark on the daily chart, and a number of important indicators are starting to converge.

This kind of structure frequently emerges in the latter phases of a correction, when the market begins laying the groundwork for a possible rebound.

The ascending support line that developed following the dramatic decline in early February is the most noticeable feature on the chart. $XRP has been printing somewhat higher lows since that capitulation event, progressively narrowing its range.