DOGE Price Rises 5% Following News of Official Dogecoin Reserve
House of Doge has announced the creation of an official Dogecoin reserve, purchasing 10 million DOGE for $1.8 million. The initiative aims to support the broader adoption of DOGE for everyday payments.
The company, acting as the commercial branch of the Dogecoin Foundation, has started executing its strategy by creating a reserve. This move is viewed as proof of concept for a future payment system based on Dogecoin (DOGE).
Furthermore, House of Doge plans to develop technological infrastructure and establish new partnerships with payment platforms.
Related: Will Dogecoin Ever Reach 1$ with Elon Musk’s Push?
House of Doge Initiative
House of Doge (effectively the corporate division of the non-profit Dogecoin Foundation) has officially started building its reserve by acquiring 10 million DOGE. The strategy is aimed at ensuring liquidity for faster transactions and reducing transaction fees, which have traditionally been major barriers to the adoption of PoW cryptocurrencies in everyday life.
With advanced technologies, the company plans to minimize delays in transaction processing and create a network of instant payments.
With a strategic reserve, House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability,
said Michael Galloro, member of the board of directors of House of Doge.
Related: SEC Hits Pause on Crypto ETFs – XRP, SOL, and DOGE Need to Wait
Development Prospects and Partnership Projects
The launch of the reserve is part of a five-year agreement between the Dogecoin Foundation and House of Doge, aimed at further developing innovative solutions for accepting DOGE as a payment method.
Amid these developments, the price of the meme coin DOGE (traded on WhiteBIT) has risen by over 5% in the past 24 hours, surpassing $0.186.
In the coming months, the company plans to announce strategic partnerships with leading payment platforms, showcasing the practical use of DOGE in global payments.
Additionally, it intends to launch loyalty programs, including cashback and rewards for users.
Related: Dogecoin (DOGE): From Zero to Hero
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