Dogecoin Reserve launches with $1.84M DOGE purchase

The Dogecoin Foundation’s corporate arm, House of Doge, has launched an official Dogecoin Reserve, purchasing 10 million DOGE (CRYPTO:DOGE) tokens (worth $1.84 million) to bolster the meme coin’s utility as a global payment solution.

Announced March 24, the initiative aims to address transaction speed hurdles and position DOGE as a scalable alternative to traditional currencies.

House of Doge’s reserve is designed to ensure liquidity and stability, enabling seamless, instant payments for merchants and consumers.

“With a strategic reserve, the House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability,” Michael Galloro, a House of Doge board member, stated.

The organisation plans to partner with major payment processors to demonstrate DOGE’s capacity for high-volume transactions, aligning with its vision of a peer-to-peer cash system inspired by Bitcoin’s (CRYPTO:BTC) creator, Satoshi Nakamoto.

While DOGE’s adoption remains niche, House of Doge’s reserve signals a push to bridge the gap between crypto and real-world commerce.

Critics argue that DOGE’s volatility and lack of institutional trust could hinder progress, but the reserve’s launch reflects a strategic bet on mainstream usability.

Whether the initiative drives adoption or faces scepticism remains to be seen, though the move underscores Dogecoin’s evolving role beyond its meme origins.

For now, House of Doge’s focus on scalability and partnerships positions DOGE as a contender in the race for crypto payment dominance.

The reserve’s success will depend on execution and market sentiment, but it marks a pivotal step in Dogecoin’s maturation.

At the time of reporting, the Dogecoin (DOGE) price was $0.2033.