Dogecoin price stalls as $175M treasury launch fails to spark momentum

• CleanCore and House of Doge have launched a $175M Dogecoin (DOGE) treasury.
• ZONE stock has plunged nearly 60% as investors doubt the Dogeocin treasury move.
• DOGE price is stuck near $0.21 with weak flows and muted whale activity.

Dogecoin (DOGE) is in the spotlight after CleanCore Solutions, a Nebraska-based manufacturer of aqueous ozone cleaning systems, and House of Doge, the commercial arm of the Dogecoin Foundation, unveiled a $175 million treasury designed to give the memecoin some institutional credibility.

Despite the bold move, the price of DOGE has barely budged, holding near the $0.21 level where it has traded for weeks.

This has left investors and traders weighing whether this new development will ignite lasting momentum or simply add to the long list of ambitious but underwhelming corporate pivots toward the meme-inspired token.

The $175M Dogecoin treasury by CleanCore Solutions

The treasury initiative was launched through a private investment in public placement (PIPE), with CleanCore issuing 175,000,420 pre-funded warrants priced at $1.00 each.

The PIPE attracted more than 80 institutional and crypto-native investors, including Pantera, GSR, FalconX, MOZAYYX, and Mythos.

The raised funds will be directed toward building a dedicated Dogecoin reserve, marking one of the most high-profile attempts yet to formalise a corporate treasury structure around the asset.

To strengthen its institutional profile, the treasury has the backing of the House of Doge and will work alongside 21Shares, a well-known exchange-traded fund issuer.

Elon Musk’s personal attorney, Alex Spiro, has been named chairman of the board, while Dogecoin Foundation director Timothy Stebbing and House of Doge chief executive Marco Margiotta have also taken leadership roles.

Margiotta described the effort as the first foundation-backed treasury strategy for Dogecoin, designed to move the token away from meme speculation and into structured finance.

A muted market reaction

Despite the strong institutional framing, market reaction was muted.

CleanCore Solutions, which trades on the New York Stock Exchange (NYSE) under the ticker ZONE, saw its shares plunge nearly 60% on the day of the announcement, reflecting ongoing investor scepticism toward companies pivoting toward cryptocurrency reserves, particularly when focused on memecoins rather than Bitcoin (BTC).

Dogecoin (DOGE) itself has remained trapped in consolidation.

At press time, DOGE was trading at $0.215, up slightly on the day but still down 2.4% over the week.

Whale wallets, according to Ali Martinez, have remained largely inactive, limiting momentum, while exchange flows show persistent caution.

On September 3, exchange outflows totalled $68.57 million, with the inflow being 59.07 million according to Coinglass data, as shown in the screenshot below.

Without consistent inflows, the new treasury alone may not be enough to shift the market’s direction.

Dogecoin price technical analysis

From a technical standpoint, Dogecoin’s price action underscores the indecision.

The token is clinging to the support at around $0.19, anchored by the 200-day moving average.

On the other hand, resistance has formed at around $0.22, an area reinforced by both the 20-day and 50-day MAs.

Momentum signals remain mixed, with the Relative Strength Index (RSI) hovering around 47, reflecting neutrality, and the Bollinger Bands narrowing, suggesting an impending volatility spike.

The MACD trend remains slightly bearish, but the stochastic RSI points to the possibility of a short-term recovery.

A decisive break above $0.226 would open the way to $0.238 and $0.249, while failure to defend the $0.211 zone risks a slide toward $0.188, last summer’s low.