The post House of Doge Launches $10M Dogecoin Reserve to Boost Transaction Speed appeared first on Coinpedia Fintech News
The House of Doge, a newly organised subdivision of the Dogecoin Foundation has recently introduced its Official Dogecoin Reserve. This is a move that seeks to reduce transaction lag times that had for long contributed to the limited adoption of digital currencies.
House of DOGE Busy 10M Dogecoins
To achieve this goal, House of Doge has purchased 10 million Dogecoins worth $1.8 million at the current price. This move will speed up blockchain transactions, improving payment efficiency for both businesses and consumers.
“Through the launch of the Reserve, and an initial 10 million Dogecoin purchase, House of Doge is creating a proof of concept to show that Dogecoin can facilitate seamless and efficient transactions,” the press release said.
Dogecoin is gaining momentum with the latest move as it is seen as a step toward making it a mainstream payment option.
Michael Galloro, a board member-elect at House of Doge, believes that the Dogecoin Reserve will improve transaction speed and make Dogecoin a top choice for everyday payments. Following the reserve’s creation, House of Doge plans to push for Dogecoin’s use as a global payment method.
The project aims to make it easier for businesses to accept Dogecoin by offering a simple payment button, reducing blockchain settlement times. With faster, cheaper transactions, Dogecoin is positioning itself as a better payment option than current methods.
Why DOGE is Great For Payments-
Besides, Dogecoin’s inflationary supply makes it a great option for payments, unlike Bitcoin with its fixed supply. House of Doge plans to boost Dogecoin use by offering cashback and forming merchant partnerships to make it easier for people to pay with Dogecoin. In a release on Monday, House of Doge stated it will announce its first strategic partnerships “in the coming months” to demonstrate Dogecoin’s potential as a global payment solution. Their goal is to make Dogecoin fast, secure, and widely accepted as a payment method.
Besides, In a February 21 post on X, Dogecoin Foundation director Timothy Stebbing revealed that the foundation had turned down partnership offers worth millions of dollars from corporations. He explained that these companies’ interest in DOGE wasn’t genuine enough.
Dogecoin Foundation Explores US Gov’t Talks and Event Partnerships
He also shared that the foundation had discussions with US Government representatives who were enthusiastic about Dogecoin being used for everyday payments, like city parking and utility bills. He also mentioned plans for collaboration with large-scale sporting events to promote Dogecoin adoption, focusing on educating attendees about self-custodial Dogecoin wallets.
Three Dogecoin-related exchange-traded fund (ETF) filings are now awaiting review by the U.S. Securities and Exchange Commission. Bloomberg analysts have estimated a 75% likelihood that these DOGE ETFs will be approved by year-end.
With signs of growth, Dogecoin’s price could rise by 16% soon, as it consolidates in a symmetrical triangle pattern, often signaling further upward movement. With the DOGE breakout, it could reach $0.19 to $0.20, and if the trend continues, it may go even higher.