Another Publicly Traded Company Buys DOGE Tokens

Neptune Digital Assets Joins Growing List of Institutional DOGE Buyers

Canadian blockchain company Neptune Digital Assets Corp. has acquired 1 million DOGE tokens, valued at approximately $270,000. The publicly traded firm disclosed the purchase on Tuesday, signaling increased institutional interest in Dogecoin.

Strategic Acquisition and Expansion Plans

Neptune’s CEO, Cale Moodie, emphasized that the company will continue acquiring digital assets while managing risk through its credit line with Sygnum Bank. The Dogecoin purchase was made via a “strategic derivative purchase” on December 27, 2024, at an average price of $0.37.

Institutional Adoption and Spot DOGE ETFs on the Horizon

Neptune’s move follows a similar DOGE investment by Spirit Blockchain, another publicly traded digital assets firm. Meanwhile, Bitwise, Osprey Funds, and Rex Shares have filed for spot Dogecoin ETFs, underscoring growing institutional interest in the memecoin.

DOGE Market Outlook

At publication time, DOGE was trading at $0.27 with a market cap exceeding $40 billion. With major asset managers eyeing Dogecoin ETFs, institutional adoption of the token appears to be accelerating.