Dogecoin Foundation’s House of Doge Acquires 10M DOGE to Support Payment Adoption
The Dogecoin Foundation’s corporate division, House of Doge, has purchased over 10 million Dogecoin (DOGE), valued at approximately $1.8 million, as part of its strategy to build a reserve for the cryptocurrency.
Established in February through a five-year agreement with the Foundation, House of Doge serves as its official commercialization partner. Its primary goal is to transition DOGE from its memecoin status to a widely used payment currency, emphasizing its low-cost transaction capabilities.
In an official statement, House of Doge announced plans to secure partnerships with major payment processors in the coming months to further integrate DOGE into real-world transactions.
“With a strategic reserve, the House of Doge is creating the foundation for a payment system that ensures liquidity, stability, and reliability,” said Michael Galloro, a Member of the Board-Elect at House of Doge. “By maintaining a reserve, we can bridge the gap between transaction processing times and real-world usability, making Dogecoin a viable option for everyday purchases.”
DOGE experienced significant gains leading up to President Donald Trump’s election, as speculation grew around a potential government initiative named the “Department of Government Efficiency” (D.O.G.E). However, the token has since seen a market correction, with its price declining more than 30% since January, according to CoinDesk data.
