Author: Ryo
Recently, a wave of public companies establishing cryptocurrency reserves has swept the globe. In a small city in northeastern Nevada, a public company, Dogecoin Cash Inc., announced plans to establish a subsidiary and allocate DOGE assets. However, prior to this, the company primarily provided online cannabis services and had created a subsidiary to purchase a large number of tokens named 'Dogecoin Cash.' GMGN data shows that the liquidity of this token is less than $4,000, and 'this token may be a Pixiu.'
Data source: GMGN
Is it DOGE or DOG?
Dogecoin Cash Inc. is a public company that has transformed from the medical cannabis industry and is gradually building a dual-business layout of 'cannabis + crypto.' The company initially focused on providing remote medical cannabis services, and its platform PrestoDoctor has provided online consultations and cannabis recommendations to patients in multiple states, holding multiple patents for cannabis varieties and applications.
In November 2024, the company officially changed its name from 'Cannabis Sativa, Inc.' to 'Dogecoin Cash Inc.' and expanded into the crypto asset field by establishing multiple subsidiaries.
On June 13, 2025, Dogecoin Cash, Inc. announced the completion of the previously disclosed acquisition of 420 million DOG tokens, increasing the total amount of DOG tokens held by the company to 2 billion. This acquisition also includes the domain name AltcoinMarketCap.com. The company plans to develop this website into a community-driven altcoin index platform, integrating it into the broader DOGP ecosystem. The platform will focus on showcasing popular, meme culture-centric, and community-supported digital assets, aligning with DOGP's mission to promote decentralized crypto culture.
Dogecoin Cash Inc. established its wholly-owned subsidiary MEME Coins Inc. at the beginning of 2025, primarily responsible for holding and managing DOG, which is a meme coin deployed on the BSC chain, rather than the actual DOGE Dogecoin. According to on-chain data, the company's wallet has accumulated 3 billion DOG;
MEME Coins Inc. is the first subsidiary under DCI to enter the crypto asset space, focusing on meme coin (DOG) strategy. On March 24, MEME Coins Inc. reached an agreement with Tipestry Inc. to successfully acquire 1 billion Dogecoin Cash (DOG) tokens. On June 25, SEC filings disclosed that MEME Coins Inc. issued 250,000 shares of preferred stock to Tipestry at a par value of $20 per share, in exchange for full control and ownership of this batch of tokens. Tipestry will transfer the tokens to a dedicated wallet and hand over all access rights to MEME Coins Inc. for safekeeping.
Company CEO David Tobias stated that this acquisition is an important step for Dogecoin Cash to expand its digital asset portfolio and further strengthen the company's layout in the crypto ecosystem.
On July 1, 2025, the newly established wholly-owned subsidiary Dogecoin Treasury Inc. will primarily focus on supporting the company's development projects related to Dogecoin, assisting in the management of the digital assets (including DOG) held or acquired by the company, and serving as a platform for the ownership and long-term planning of protocol assets. A spokesperson for Dogecoin Cash Inc. stated that DTI provides a dedicated framework for the company's technical work and business objectives, helping to orderly advance the development and implementation of internal tools, including the Dogecoin protocol.
As of now, the company has accumulated over 4 billion DOG tokens, and this transaction will not dilute the rights of existing shareholders, nor will the capital structure be affected. However, there are currently no explicit documents showing that the company holds DOGE-related assets.
Both cryptocurrency and stock prices fall, a wave of retail investors being cut?
The stock price of Dogecoin Cash Inc. has recently entered a consolidation range. As of the US stock market close on July 1, 2025, DOGP closed at $0.0289, with a daily decline of 1.03%, continuing a slight adjustment trend for nearly a week. Since reaching a 52-week low of $0.0028 in September 2024, DOGP has seen a cumulative increase of over 900%, peaking at $0.1662 in December 2024. However, entering the second quarter of 2025, the stock has significantly retraced, currently down over 80% from its peak.
Data source: TradingView
As of now, the on-chain token DOG price of the company has fallen over 80% from its peak.
Data source: Dexscreener
According to publicly disclosed data, Dogecoin Cash Inc. presents a CEO-led equity structure. The company's major shares are held by board members and executives, with low participation from institutional investors, while public shareholders hold the remaining majority of the circulating shares.
Data source: simplywall
CEO David Tobias is the largest single shareholder, holding approximately 31.2 million shares, about 22.8% of the company's total equity. Aside from him, directors Kyle Powers, CFO Carolyn Merrill, directors Catherine Carroll, Robert Tankson, and Trevor Reed hold between 1.6% to 5.1% of the shares, ranging from 1.6 million to 7.4 million shares.
The company's directors and executive team collectively control over 40% of the shares, indicating a strong internal control attribute. This structure somewhat ensures consistency in strategic execution, but also means that external investors have relatively limited influence in the company's governance.
The proportion of institutional investors' holdings is very low. Currently, only a few small institutions have disclosed holdings in the company's stock. For example, Advisors Management Group, Inc. holds 42,700 shares, accounting for approximately 0.03% of the total equity; Winch Advisory Services LLC holds only 93 shares, representing less than 0.001%. This indicates that mainstream institutions have not shown significant investment interest in Dogecoin Cash.
Aside from internal executives and a small number of institutions, approximately 55% to 60% of the shares are held by retail investors. This portion constitutes the main source of circulating shares in the market.
