Dogecoin News Today: CleanCore’s Dogecoin Gamble: Can It Reshape a Meme Coin’s Future?

CleanCore Solutions (ticker: ZONE), a New York Stock Exchange-listed firm, has initiated a bold move into the Dogecoin market by acquiring 285,420,000 DOGE, valued at approximately $68 million. This acquisition marks the launch of what it claims is the largest Dogecoin digital asset treasury to date, established within just under a week. The initiative, backed by the newly formed corporate arm of the Dogecoin Foundation—House of Doge—aims to enhance the token’s utility and adoption globally [1].

The company announced this move alongside a $175 million private placement, which will be used to fund further token purchases and support corporate operations. Over 80 institutional and crypto-native investors have committed to the offering, including prominent firms such as Pantera, GSR, and FalconX. The offering is expected to close on September 4, pending regulatory approval [3].

CleanCore’s pivot to Dogecoin is being led by its newly appointed board chairman, Alex Spiro, a long-time attorney for Elon Musk, and Marco Margiotta, CEO of House of Doge, who will also serve as the company’s chief investment officer. The board will also welcome Timothy Stebbing, a director of the Dogecoin Foundation. Margiotta emphasized the strategic vision of CleanCore’s treasury, which aligns with the broader efforts of House of Doge to elevate Dogecoin’s status as a global digital asset with increasing utility and adoption [2].

In response to the announcement, CleanCore’s stock experienced a significant 60% plunge on Tuesday, falling to $2.69 from $6.86 at the previous Friday’s close. This sharp decline contrasts with the 40% surge in after-hours trading earlier in the week, following the initial news of the Dogecoin treasury launch. The company currently has a market capitalization of around $50 million [1].

The Dogecoin price saw a modest 7% increase, reaching $0.24 as of 4:47 p.m. ET, according to The Block’s DOGE price data. Dogecoin currently ranks as the seventh-largest cryptocurrency by market capitalization, with a valuation north of $36 billion. The growing interest in Dogecoin has also spurred speculation about the potential launch of the first Dogecoin ETF, which could arrive as soon as this week, as noted by a Bloomberg analyst [1].

CleanCore’s strategy includes exploring yield opportunities similar to staking and institutional investment products tied to DOGE, with the House of Doge and 21Shares serving as advisory partners. The firm also aims to accumulate up to 1 billion DOGE within the next 30 days, positioning itself as a major player in the Dogecoin ecosystem [1].

CleanCore’s entry into the Dogecoin market is part of a broader trend among publicly traded companies seeking to diversify their assets into digital currencies. Other firms, including Spirit Blockchain Capital and Dogecoin Cash Inc., have also pursued similar strategies, although many have seen mixed performance. This trend highlights the ongoing exploration of digital assets as a means to generate value and utility beyond traditional financial models [2].

Source:

[1] The Block (https://www.theblock.co/post/369912/cleancore-stock-surges-after-kicking-off-dogecoin-treasury-with-285-4-million-doge-purchase?utm_medium=rss&utm_source=news.xml)

[2] CoinTelegraph (https://cointelegraph.com/news/cleancore-plunges-dogecoin-treasury-strategy)

[3] CoinDesk (https://www.coindesk.com/business/2025/09/02/cleancore-in-usd175m-deal-to-establish-a-dogecoin-treasury-shares-tumble-60)