Schlagwort: crypto business

• PEPE price dropped 6% to lows of $0.0000088, testing critical support at $0.0000090.
• The broader memecoin market fell 5%, with DOGE, SHIB, and others hit by macroeconomic pressures and reduced liquidity.
• PEPE’s recovery depends on holding support and renewed social momentum, amid ongoing sector volatility and regulatory risks.

PEPE, the Ethereum-based memecoin, experienced a 6% decline in 24 hours as bears emerged.

The losses, coming amid overall market sell-off, saw Pepe test a critical support threshold.

Memecoin weakness means other tokens in the sector also witnessed dips.

PEPE declines to test key technical zone

As highlighted, the price of PEPE dipped 6% over the past 24 hours to reach almost $0.0000088.

This meant bulls brushed against a key support level below which more pain could follow.

Interestingly, the downward action came with a dip in intraday trading volume to $658 million.

The 12% decrease from the previous day aligned with bulls’ resilience as buyers sought accumulation.

The token nonetheless is near the oversold territory, with the Relative Strength Index at 36.

Such an outlook is always a signal for a potential bounce if buying interest resurfaces.

Support at $0.0000090 remains and aligns with prior consolidation zones.

The area now serves as a psychological bulwark.

On the upside, a bounce from the lows occasioned by profit-taking will awaken social media buzz.

Meantime, investors will keenly monitor whale activity, as large holders offloading or buying points to a potential uptick or downturn.

Broader memecoin sector grapples with persistent weakness

PEPE sentiment is a result of a wider weakness affecting the memecoin sector, which has shed nearly 5% in aggregate value this week.

The total meme coin market capitalization is now below $82 billion.

Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced a decline, albeit a minor one in the context of the past 24 hours.

Bonk (BONK) and Popcat also pared some gains amid widespread profit-taking.

This collective retreat stems from a confluence of macroeconomic headwinds, including the US Federal Reserve’s signals on interest rates.

Government shutdown is also a factor. Bitcoin, which shot to an all-time high above $126,000 this week, dropped to $122,000 before seeing a slight uptick ahead of the FOMC minutes on Wednesday, Oct. 8.

The memecoin sector’s inherent volatility could increase if markets see a fresh downturn.

Notably, trading volumes for top memecoins have contracted by an average of 3.4% on the day.

But despite the diminished liquidity, analysts are upbeat amid calls for an altcoin season.

The memecoin arena remains robust, with viral whims likely to swiftly turn underperforming tokens into overall outperformers.

The post PEPE price falls 6% to key support level amid memecoin weakness appeared first on CoinJournal.

• CleanCore currently holds 710M DOGE worth about $174M after recent purchases.
• The company targets 1B DOGE using a disciplined treasury strategy.
• Partnership with Bitstamp by Robinhood ensures transparency and security.

CleanCore Solutions, Inc. (NYSE American: ZONE) has revealed that it has added over 710 million Dogecoin to its official corporate treasury.

The company’s growing digital asset reserve marks a significant step toward its ambitious target of holding 1 billion Dogecoin.

With this latest accumulation, CleanCore’s holdings are valued at approximately $173.9 million, based on Dogecoin’s current price of around $0.2455.

According to the company’s statement, the accumulation has been supported through a partnership with Bitstamp by Robinhood, which provides a regulated and transparent trading platform for the firm’s Dogecoin transactions.

A disciplined approach to its Dogecoin vision

CleanCore launched its official Dogecoin Treasury in early September, after raising about $175 million through a private placement.

The company has described its acquisition plan as disciplined and phased, focusing not only on growing its holdings but also on improving its market capitalisation relative to its net asset value (mNAV).

CEO Clayton Adams emphasised that CleanCore’s strategy aligns closely with the long-term vision of the Dogecoin Foundation and its corporate arm, House of Doge.

He said the firm’s approach “goes beyond a simple NAV play,” focusing instead on expanding Dogecoin’s utility and supporting broader adoption as a global digital asset.

And to execute its treasury strategy effectively, CleanCore has entered into a strategic alliance with Bitstamp USA, designating Bitstamp by Robinhood as its primary trading venue.

The partnership is designed to enhance transparency, safeguard token holdings, and ensure secure treasury operations.

CleanCore’s leadership believes these partnerships are key to building a sustainable and compliant framework for corporate digital asset management.

The company has also highlighted that friends, family, and House of Doge insiders hold a significant portion of its registered shares, which remain restricted or locked up.

In addition, CleanCore is working closely with the US Securities and Exchange Commission (SEC) to register the private placement shares while keeping a close eye on short interest in its stock.

Focusing on long-term value and responsible scaling

Despite recent market volatility, CleanCore has reaffirmed its commitment to scaling its treasury responsibly.

The company’s strategy focuses on transparency, resilience, and sustainable growth, aiming to strengthen shareholder value while maintaining financial flexibility.

CleanCore’s current holdings include more than $20 million in unrealised gains, and management says it retains enough liquidity to continue acquiring Dogecoin.

Industry analysts, however, remain divided on the importance of mNAV as a measure of a company’s health in the digital asset space.

Greg Cipolaro, global head of research at NYDIG, recently argued that mNAV overlooks firms with broader business operations beyond simply holding crypto assets.

Meanwhile, Standard Chartered has warned that smaller crypto treasury firms may face risks of overexposure, predicting possible consolidation in the sector if mNAV levels stay low.

Market reaction and outlook

Following the announcement, CleanCore’s stock closed Tuesday down 8.44% at $2.06, with a slight recovery in after-hours trading to $2.09.

While some investors appear cautious about the company’s exposure to digital assets, others view the Dogecoin treasury as a forward-looking step that could enhance long-term value if Dogecoin adoption continues to rise.

For Dogecoin (DOGE), the news has had little to no impact on its bearish market sentiment.

At press time, DOGE traded at $0.2461 on CoinMarketCap, down 5.32% over the last 24 hours and almost erasing all of last month’s gains.

The post NYSE-listed CleanCore Solutions adds 710M Dogecoin to its treasury appeared first on CoinJournal.