According to The Block, the Dogecoin Foundation has established an "official Dogecoin Reserve" through its newly formed commercial division, purchasing the first batch of 10 million DOGE (approximately $1.8 million) at the current market price, with DOGE's price rising 6% after the announcement.

This initiative is part of the foundation's collaboration with House of Doge, which became an official commercial partner after signing a five-year cooperation agreement in February. According to the announcement, the DOGE reserve is intended as a proof of concept to demonstrate Dogecoin's feasibility in efficient, seamless transactions.

"The launch of the Dogecoin Reserve is a crucial step for House of Doge in realizing its vision of making Dogecoin a fast and reliable payment option for businesses and consumers," the announcement stated. "Through innovative technology, merchants can accept Dogecoin payments instantly at checkout, avoiding the typical blockchain transaction waiting times while providing the same level of trust as traditional payment methods."

According to the announcement, House of Doge will reveal its first strategic partners in the coming months to showcase Dogecoin's practical applications as a global payment solution. Additionally, the Dogecoin Foundation plans to collaborate with "major sporting events" to promote Dogecoin usage and focus on educating users about self-custodial Dogecoin wallets.