Dogecoin Hits 2-Month High as DOGE Mining Firm Plans to Go Public via Merger
Shuttle Pharmaceutical Holdings, a Nasdaq-listed company with an AI pharmaceutical platform, has agreed to acquire United Dogecoin Inc. in a merger supported by $11 million in PIPE financing. The combined entity will be a publicly traded Dogecoin mining firm. United Dogecoin plans to rapidly deploy 3,000 ElphaPex mining rigs, which will contribute about 1.5% of the current global Dogecoin network hash rate. This marks an early institutional push into Dogecoin mining, aiming to replicate the Bitcoin mining model by both mining and holding Dogecoin on the balance sheet. United Dogecoin’s CEO Ryan Trasolini will become co-CEO of the new company. Board member Andrew Kiguel stated that Dogecoin mining is at an early stage, positioning United Dogecoin as a potential leader. Following the merger news, Shuttle’s stock spiked temporarily, while Dogecoin outperformed other major cryptocurrencies, up about 12% for the week and recently trading under $0.11.
