High on DOGE? Cannabis Company Makes Dogecoin Treasury Play
Dogecoin Cash Inc. is launching Dogecoin Treasury Inc., a subsidiary focused on maintaining a Dogecoin (DOGE) treasury. The company, formerly known as Cannabis Sativia, Inc., rebranded in November to expand from cannabis products into cryptocurrency and blockchain. Dogecoin Treasury Inc. aims to support Dogecoin-related development initiatives and manage digital assets, including DOGE. The firm plans to develop a "Dogecoin Protocol" to unify its technical efforts related to Dogecoin. However, there is no assurance regarding the completion or deployment of these initiatives. Dogecoin Cash Inc.'s shares (DOGP) fell 2%, with a market cap over $4 million. The company previously focused on Dogecoin Cash (DOG), a meme coin, and acquired over 2 billion DOG tokens worth approximately $6 million. Dogecoin's price has dropped nearly 5% in the last 24 hours, currently at $0.158, significantly below its all-time high of $0.73 from 2021.
