TLDR
- CleanCore Solutions bought 285.4 million DOGE tokens worth $68 million, creating the largest corporate Dogecoin treasury
- Stock jumped 38% in after-hours trading following the announcement
- Company plans to purchase 1 billion DOGE tokens within 30 days
- Long-term strategy targets 5% of total Dogecoin supply
- Partnership with House of Doge drives the treasury initiative
CleanCore Solutions sent shockwaves through the market Monday with a massive Dogecoin investment. The NYSE-listed company purchased 285.4 million DOGE tokens for approximately $68 million.
This purchase establishes what CleanCore calls the largest Dogecoin digital asset treasury. The acquisition was completed in just under one week.
ZONE shares closed Monday at $3.51 per share. After-hours trading saw the stock surge 38% as investors reacted to the crypto news.
The company operates with a market cap of around $50 million. This makes the Dogecoin purchase particularly striking given its size relative to the firm’s valuation.
CleanCore’s crypto ambitions extend far beyond this initial buy. The company announced plans to acquire up to 1 billion DOGE within the next 30 days.
Strategic Partnership Drives Expansion
The Dogecoin treasury stems from CleanCore’s partnership with House of Doge. House of Doge represents the corporate arm of the Dogecoin Foundation.
This collaboration aims to create the “official Dogecoin treasury.” The partnership includes funding through a $175 million PIPE offering.
Last week’s capital raise attracted major crypto investors. Backers include MOZAYYX, Pantera, GSR, and FalconX.
Marco Margiotta holds key roles in both organizations. He serves as CleanCore’s CIO and House of Doge’s CEO.
“ZONE’s treasury was created to capture the value of Dogecoin’s ability to serve as the people’s currency,” Margiotta said. The strategy aligns with expectations for increased utility and adoption.
Market Impact and Future Plans
Dogecoin responded positively to the news. The token price climbed approximately 7% to $0.24 following the announcement.
DOGE currently ranks as the seventh-largest cryptocurrency excluding stablecoins. Its market cap exceeds $36 billion.
CleanCore’s long-term vision extends well beyond the billion-token milestone. The company aims to secure 5% of the total DOGE supply over time.
This would represent a massive accumulation strategy for the microcap firm. The treasury approach reflects growing corporate interest in cryptocurrency holdings.
A potential catalyst awaits Dogecoin investors. Bloomberg analysts suggest the first Dogecoin ETF could launch this week.
The timing of CleanCore’s purchase coincides with this potential development. Market participants will monitor whether ETF approval impacts DOGE prices further.
CleanCore completed its initial $68 million purchase using proceeds from the recent funding round. The 30-day timeline for reaching 1 billion DOGE suggests continuous buying activity ahead.
