Key Notes

Trump-backed Thumzup acquires Dogehash in a $153 million mining expansion deal.

DOGE rallied 12% before profit-taking pushed prices back to $0.22.

Dogecoin’s intraday rejection aligns closely with an $81.4M short position cluster around $0.25.

After a 12% rally triggered by Trump-backed Thumzup’s multi-million acquisition of miner Dogehash, Dogecoin traded as low as $0.22 on Saturday, Aug. 23, down 2% intraday as traders began booking profits.

Thumzup, originally an ad-tech company, has pivoted toward a crypto-focused treasury business. The firm raised $50 million in July 2025 to fund mining operations and direct crypto purchases. Its $153.8 million stock-based acquisition of Dogehash Technologies adds 2,500 Dogecoin/Litecoin rigs, with plans to rebrand as Dogehash Technol

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