Cannabis company Dogecoin Cash Inc. establishes DOGE asset management subsidiary

ChainCatcher news, according to Decrypt, the publicly listed cannabis company Dogecoin Cash Inc. (formerly Cannabis Sativia, Inc.) announced the establishment of a wholly-owned subsidiary, Dogecoin Treasury Inc., dedicated to managing Dogecoin (DOGE) assets and supporting related development projects.

The company plans to develop the "Dogecoin Protocol," aligning its DOGE-related technical work with broader business objectives. Previously, the company had accumulated approximately $6 million in DOG tokens (a mimic coin on the BNB chain).

Currently, the DOGE price has dropped nearly 5% in the last 24 hours to $0.158, down over 78% from its all-time high of $0.73 in 2021. The company's stock (DOGP) fell 2% on the day, with a market capitalization of approximately $4 million.