Dogecoin Surges After House of Doge Buys 10M Tokens For Strategic Reserve – Retail Sentiment Split Despite Bitcoin Outperformance
The organization stated it would announce partnerships with multiple payment processors in the coming months to advance its initiative.
FollowDogecoin (DOGE) surged 4.5% in U.S. market hours on Tuesday after the Dogecoin Foundation’s corporate arm, House of Doge, announced it had purchased over 10 million DOGE tokens – valued at just over $1.8 million – as part of its broader reserve strategy.
The meme-based cryptocurrency hit a 24-hour high of $0.1929, posting the strongest gains among the top 20 digital assets by market capitalization.
It was also among the top 10 trending tickers on Stocktwits.
House of Doge, formed in February under a five-year agreement, serves as the Foundation’s corporate and commercialization unit. It aims to transition DOGE from its meme-coin status to a viable low-cost payment currency, reinforcing its role in everyday transactions.
The organization stated it would announce partnerships with multiple payment processors in the coming months to advance its initiative.
“With a strategic reserve, the House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability,” said Michael Galloro, a member of the board-elect at the House of Doge.
“By maintaining a reserve, we can bridge the gap between transaction processing times and real-world usability, making Dogecoin extremely practical for everyday purchases,” he added.
Dogecoin (DOGE) retail sentiment and message volume on March 25 as of 11:25 a.m. ET | Source: Stocktwits
On Stocktwits, retail sentiment around Dogecoin’s token improved to ‘neutral’ from ‘bearish’ a day ago, and chatter levels increased.
While acknowledging DOGE’s price rise, one user said they were waiting for a more significant bump.
Another more optimistic user projected that Dogecoin’s price could hit new highs on the recovery bounce.
Dogecoin rose over 16% over the past week, with gains of 3.7% over the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Read also: Crypto Traders Bet On SEC’s Ripple Decision To Drive XRP ‘Mass Adoption’ – But Retail Sentiment Remains Split
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