Dogecoin is gaining a dedicated company to build its ecosystem, with the team behind the meme coin’s largest consumer product consolidating into one organization to bring more everyday use cases to DOGE.
Dogecoin Labs was announced on Tuesday and established in collaboration with the Dogecoin Foundation to consolidate products, intellectual property, and development teams from across the Dogecoin ecosystem into a single independent entity.
The company will own and operate three flagship products: the MyDoge wallet, the DogeOS app platform, and Such App—a payment tool for merchants. The related assets and talent are contributed jointly by the foundation and House of Doge.
This initiative aims to address what the company sees as Dogecoin’s core weakness. Although DOGE is one of the largest and most well-known cryptocurrencies, with ample liquidity, millions of holders, and one of the most active communities in crypto, the number of actual products and businesses built around DOGE remains relatively small compared to its audience size. Led by Jordan Jefferson, founder of MyDoge and DogeOS, Dogecoin Labs plans to change this by developing wallets, payments, commerce, trading, DeFi, gaming, AI, and social applications.
Jefferson said, “No other digital asset combines liquidity, community, and cultural influence like Dogecoin, yet its potential has barely been tapped.” He added that the community has long been chanting “DOGE to $1,” and the current goal is to “build an economic system worthy of this ambition.”
This move builds on recent developments. DogeOS opened its public testnet on September 30, providing developers with an Ethereum-compatible environment to build Dogecoin applications; meanwhile, MyDoge has grown to over 500,000 users without paid acquisition and launched its V3 update, connecting wallets to these applications. Alongside Such App’s merchant payment gateway, these three products aim to connect developers, consumers, and businesses into a functioning DOGE economy.
The foundation will continue to manage, provide open-source support, and advocate, while Labs will handle commercial product development.
This restructuring occurs amid weak token performance. On Tuesday, DOGE traded at approximately $0.084, up 3.9% for the day, with a market capitalization of around $13 billion; however, it has declined about 14% over the past month and is down approximately 88% from its all-time high set in May 2021.