Dogecoin Foundation launches strategic reserve to bolster DOGE liquidity

The Dogecoin Foundation, a non-profit organization, announced the launch of the Dogecoin Strategic Reserve, acquiring 10 million DOGE worth $1.83 million. This initiative aims to strengthen the cryptocurrency’s liquidity and promote its use as a means of payment. Implemented through the House of Doge division, the reserve will support the stability and usability of Dogecoin in global transactions.

According to House of Doge spokesperson Michael Galloro, the reserve will bridge the gap between transaction processing and settlement, making Dogecoin more efficient for everyday payments.

Following the announcement, DOGE experienced an 11.34% price increase over 24 hours, according to data from CoinMarketCap. Trading volume also rose significantly, increasing by 147.29%, indicating heightened market interest. The asset currently has a market capitalization of $27.44 billion, representing 0.963% of the crypto market.

Regulatory developments, including the potential development of ETF products, could further integrate Dogecoin into traditional financial instruments, CoinMarketCap reports.