Dogecoin Foundation's new corporate arm launches DOGE reserve with 10 million token purchase

Dogecoin Foundation's new corporate arm launches DOGE reserve with 10 million token purchase

The Dogecoin Foundation has established an "Official Dogecoin Reserve" through its new corporate arm, beginning with a purchase of 10 million DOGE—worth approximately $1.8 million. This move is part of a five-year partnership, signed in February, with House of Doge, now the Foundation's official commercialization partner.

The reserve serves as a proof of concept to showcase Dogecoin’s potential for fast, efficient transactions. House of Doge aims to make DOGE a reliable payment method for both businesses and consumers, offering instant checkout experiences similar to traditional payments.

House of Doge plans to announce its first strategic partnerships in the coming months, emphasizing Dogecoin’s real-world utility. According to Dogecoin Foundation director Timothy Stebbing, the organization is also in talks with the U.S. government to explore DOGE adoption for services like city parking and utility payments, and is preparing educational initiatives at large-scale sporting events.

Despite renewed interest following Donald Trump’s election and the formation of the Elon Musk-led Department of Government Efficiency, DOGE has dropped around 40% over the past four months. However, demand for Dogecoin mining products has surged, especially in China.

Currently trading around $0.19, Dogecoin remains a top 10 cryptocurrency with a $27 billion market cap. Meanwhile, three DOGE-related ETF proposals await SEC review, with analysts predicting a 75% chance of approval by year-end.

In addition, House of Doge has entered a business combination agreement with Atmofizer Technologies (ATMO) via a reverse takeover, expected to finalize in Q2 2025 pending approvals.