CleanCore announced it had purchased more Dogecoin in its treasury push. This buy brought its holdings halfway to its 1 billion DOGE target.
CleanCore Pushes Toward 1 Billion DOGE
In a recent press release, CleanCore Solutions revealed that its Treasury now holds over 500 million DOGE. This treasury is backed by the Dogecoin Foundation and managed through its corporate arm, House of Doge.
The achievement comes shortly after CleanCore announced its treasury plan and purchased 285 million DOGE. This was its first purchase in a bid to acquire 1 billion coins within 30 days.
Chief Investment Officer Marco Margiotta, who also leads House of Doge, described the progress as a key milestone in executing a disciplined accumulation strategy.
“Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy,” Margiotta said, “Our vision is to establish Dogecoin as a premier reserve asset while supporting its broader utility across payments, tokenization, staking-like products, and global remittances.”
The company’s long-term ambition is to capture up to 5% of the memecoin’s circulating supply. This would firmly establish the firm as a leading digital asset treasury. Custody of the holdings is managed through Bitstamp in collaboration with Robinhood.
Notably, Elon Musk’s personal lawyer, Alex Spiro, joined CleanCore as chairman of the board. Spiro reportedly played a role in setting up the treasury plan and aligning it with the Dogecoin Foundation’s objectives. His involvement further ties the initiative to Musk’s broader ecosystem. This is in reference to the billionaire’s association with the memecoin.
DOGE Price Reacts to Treasury Moves
Over the past week, the token has climbed 22%, including a 3.6% gain in the last 24 hours. This upward momentum can be attributed to the treasury moves and other factors.
The proposed launch of the first U.S.-regulated Dogecoin ETF, the REX-Osprey DOJE, has been particularly significant to its rally. The fund legitimizes the asset class for institutional investors.
On the technical front, the memecoin has successfully broken through an important price level at $0.25. This positive trend suggests it could move toward $0.288. The trading volume and liquidity are both strong. It lowers the chances of sudden price drops, even with quick gains.
CleanCore’s DOGE accumulation puts the company in direct competition with other treasury firms. For instance, BitOrigin purchased 40.5 million DOGE as part of its $500 million treasury initiative.
These moves are part of a larger strategy by House of Doge to expand real-world applications of the memecoin. The organization is pushing to change the coin from a speculative digital token into a functional global currency.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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Source: https://coingape.com/cleancore-strengthens-treasury-with-more-dogecoin-eyes-1b-target/