Core Insights - CleanCore (ZONE) shares experienced a volatility spike, initially rising by 7% before declining, following the announcement of adding 100 million Dogecoin (DOGE) to its balance sheet, bringing its total DOGE holdings to over 600 million, valued at over $161 million [1][4] Company Strategy - The company's objective is to position Dogecoin as a premier reserve asset while enhancing its use in payments, tokenization, staking-like products, and remittances, as stated by the CIO Marco Magiotta [2] - CleanCore is collaborating with House of Doge, which aims to boost brand awareness and adoption of Dogecoin, and has been designated as an "official" Dogecoin treasury [2] Financial Moves - CleanCore announced a $175 million PIPE (private investment in public equity) in early September to support its treasury initiatives [3] - The firm aims to accumulate 1 billion DOGE within the first 30 days of its acquisition strategy, with a long-term goal of obtaining at least 5% of the circulating supply of DOGE, approximately 7.5 billion DOGE based on current data [4] Market Performance - Despite a decline of around 35% in ZONE shares over the week and nearly 39% over the month, the value of Dogecoin has increased by nearly 12% in the last week and 26% in the last two weeks, potentially influenced by an upcoming spot ETF launch in the U.S. [4] - Dogecoin is currently the 8th largest cryptocurrency by market capitalization, trading close to $0.27, but remains over 63% below its all-time high of $0.73 reached in 2021 [5]
Dogecoin Treasury Firm's Stock Rises, Then Falls as Holdings Top 600 Million DOGE