CleanCore Nears 1B Dogecoin Goal: DOGE Price Surges
CleanCore Eyes 1 Billion DOGE Milestone
CleanCore Solutions has announced a significant increase in its Dogecoin holdings as part of its ongoing treasury strategy. The recent purchase brings their total holdings to over 500 million DOGE, putting them halfway toward their ambitious goal of accumulating 1 billion coins.
This milestone follows CleanCore's initial announcement of its treasury plan, supported by the Dogecoin Foundation and managed through House of Doge, its corporate arm. The company aims to establish Dogecoin as a key reserve asset, enhancing its utility in payments, tokenization, and global remittances.
Key Figures and Strategy
Marco Margiotta, Chief Investment Officer and head of House of Doge, emphasized the speed and scale of the treasury strategy execution. The long-term goal is to control up to 5% of Dogecoin's circulating supply, solidifying CleanCore's position as a leading digital asset treasury.
Custody of the DOGE holdings is managed through Bitstamp in collaboration with Robinhood.
The Elon Musk Connection
Adding to the intrigue, Elon Musk's personal lawyer, Alex Spiro, serves as CleanCore's chairman. Spiro played a crucial role in establishing the treasury plan and aligning it with the Dogecoin Foundation’s objectives, further linking the initiative to Musk’s sphere of influence.
DOGE Price Reacts Positively
The market has responded favorably to CleanCore's accumulation strategy. Over the past week, Dogecoin has climbed 22%, including a 3.6% gain in the last 24 hours. This upward trend is also fueled by optimism surrounding the potential launch of a U.S.-regulated Dogecoin ETF, the REX-Osprey DOJE.
Technically, Dogecoin has broken through the $0.25 resistance level, suggesting a possible move toward $0.288. Strong trading volume and liquidity reduce the risk of sudden price drops.
Competitive Landscape
CleanCore's move places it among other firms building Dogecoin treasuries. BitOrigin, for example, has initiated a $500 million treasury plan with an initial purchase of 40.5 million DOGE.
House of Doge aims to transition Dogecoin from a speculative asset to a functional global currency, driving its real-world applications.