Meme Insider
Ever wondered why some crypto tokens skyrocket after a fundraising announcement? A recent thread on X by Joshua Deuk, Head of Trade at Mozaik Capital, breaks it down with some eye-opening data on Digital Asset Treasury (DAT) raises. If you're into meme tokens or just tracking the next big pump, this is worth a read. Let's unpack it step by step.
What Exactly is a DAT Raise?
First off, DAT stands for Digital Asset Treasury. Think of it as companies or projects that raise capital specifically to buy and hold cryptocurrencies, often to build up their treasury reserves. It's like MicroStrategy but for altcoins and memes. These raises are usually in cash, and the goal is to acquire more tokens, which can create a positive feedback loop for the price. According to insights from Pantera Capital, DATs can generate yield and increase net asset value over time, making them a hot narrative in crypto.
Joshua's analysis focuses on how the size of these raises—relative to the token's market cap (MC)—influences price action. The key takeaway? If the raised amount is over 5% of the MC, it's often a bullish signal.
The Data Speaks: Raises and Price Impacts
Joshua shared a handy table summarizing recent DAT raises across various tokens, including meme staples like DOGE. Here's the breakdown:
To make it easier, I've transcribed the key data below in a markdown table for quick reference:
| Date | Token | Raise Amount | Snapshot MC | Raise MC % | Price Action Over 6 Weeks | Notes |
|---|---|---|---|---|---|---|
| 07/21/2025 | ENA | $260,000,000 | $3,100,000,000 | 8.37% | 28% | N/A Over 6-8 Weeks |
| 09/06/2025 | ENA | $310,000,000 | $5,100,000,000 | 6.08% | N/A | N/A Over 6 Weeks |
| 09/08/2025 | WLD | $250,000,000 | $2,600,000,000 | 9.77% | 46% | Investment of $20 M from Bitmex, also hinted before on Tom Lee tweet |
| 07/14/2025 | HYPE | $305,000,000 | $16,000,000,000 | 1.91% | -25% | Retraced 25%. Initially after Bitmex |
| 07/17/2025 | HYPE | $50,000,000 | $14,000,000,000 | 0.36% | -25% | Retraced 20% after news |
| 07/01/2025 | SOL | $122,500,000 | $87,000,000,000 | 0.14% | 40% | Move until now (was used as local bottom) |
| 07/11/2025 | SOL | $200,000,000 | $87,000,000,000 | 0.23% | 40% | Move until now (was used as local bottom) |
| 07/21/2025 | SOL | $5,000,000 | $97,000,000,000 | 5.15% | 15% | Moved 12% and retraced first before bigger move up |
| 07/28/2025 | SOL | $500,000,000 | $87,000,000,000 | 5.62% | 15% | Retraced -15% first before move up |
| 07/22/2025 | LTC | $100,000,000 | $8,800,000,000 | 1.14% | 16% | Retraced first before moving back up to highs (currently trading at similar price) |
| 07/28/2025 | SUI | 45000000 | $15,000,000,000 | 3.00% | -25% | Retraced 25% after news (news was top) |
| 09/02/2025 | DOGE | 175000000 | $30,000,000,000 | 5.83% | 13% | Moved after initial small raise (recent news is more buying power of $238 M) |
| 09/09/2025 | DOGE | 238000000 | $36,000,000,000 | 0.66% | 0% | News came out today |
| 06/16/2025 | TRX | $100,000,000 | $28,000,000,000 | 3.57% | 22% | Until new highs |
| 06/30/2025 | TRX | $100,000,000 | $28,000,000,000 | 3.57% | 22% | Until new highs |
| 07/28/2025 | TRX | $1,000,000,000 | $22,000,000,000 | 4.55% | 12% | 10% move in 1 day |
| 07/20/2025 | TRX | $110,000,000 | $34,000,000,000 | 3.24% | N/A | Not much move and retraced |
| 07/20/2025 | BNB | $500,000,000 | $120,000,000,000 | 0.42% | -12% | Market local topped and dropped 13% in 5 days, currently trading above prior. Acquired ~$341 M and aims full deploy by EOY |
| 09/09/2025 | INJ | $100,000,000 | $1,300,000,000 | 7.69% | 4% | Announcement to buy from open market |
| 08/11/2025 | IP | $100,000,000 | $2,000,000,000 | 5.00% | -15% | Initial 15% retracement, then moved 40%+ later (but purchasing is locked tokens at fixed price $3.4) |
| 08/26/2025 | CRO | $420,000,000 | $5,000,000,000 | 8.40% | 137% | Moved consistently even post-news |
| *In no specific order |
(Note: Some entries in the original table might have slight variations, but this captures the essence.)
From the data, patterns emerge:
- Strong Pumps for >5% Raises: Tokens like WLD (9.77%) saw a 46% jump, and ENA (8.37%) climbed 28%. Even meme icon DOGE got a 13% boost from a 5.83% raise.
- Mixed Results Below 5%: Smaller ratios, like SOL's 0.14%, still delivered 40% gains in some cases, but others like HYPE (0.36%) retraced 25%.
- Exceptions and Nuances: Sometimes, the news acts as a local top, with insiders selling off (e.g., SUI at 3.00% dropped 25%). Clean processes, like ENA's transparent acquisition, seem to help.
Joshua notes that $WLD and $CRO are prime examples where higher ratios led to bigger impacts. For meme tokens, this could be huge—imagine a project like DOGE announcing a massive treasury build-up. It turns fundraising into a direct price catalyst.
Community Reactions and Deeper Insights
The thread sparked some interesting replies. One user suggested looking at cash as a percentage of daily perp turnover for even better predictions. Another pondered if the >5% rule holds in bearish markets. These discussions highlight how liquidity and sentiment play into the mix.
If you're trading memes, keep an eye on DAT announcements. As Joshua concludes: "If you see a DAT with >5% cash raised—it's probably a good punt." But remember, crypto is volatile, and past performance isn't a guarantee.
For more on how fundraising trends affect meme tokens, stick around Meme Insider. We've got your back on the latest blockchain buzz.
