The Dogecoin Foundation is looking to raise funding now that the re-election of Donald Trump as the US President has rallied the crypto market to record highs. In a detailed message recently posted on In the upcoming year, the ecosystem of the popular memecoin is looking to expand into a new service, called Dogebox, for which it requires funding.
Dogecoin, which is currently trading at $0.3863 (roughly Rs. 32.5) on global exchanges, has been called the 'people's crypto' by Elon Musk, who believes DOGE has more day-to-day utility compared to other crypto assets like BTC and ETH. .
Through Dogebox, the ecosystem developers wish to onboard the “first million grassroots retailers to accept Dogecoin” as a payment option. This project is part of the open-source work that the Dogecoin Foundation has been working on for a while now.
Explaining the concept of Dogebox, the runners to participate in decentralized payment systems that will reward them when people spend their Dogecoin for goods and services in their neighborhoods.”
The Dogecoin Foundation is a non-profit organization that has been building open-source projects for the Dogecoin Ecosystem, and currently employs a number of full time developers to work across a range of projects for the benefit of the Dogecoin community.
Our aim since 2021…
— Dogecoin Foundation (@DogecoinFdn) November 24, 2024
While the foundation has asked investors to reach out with their proposals, the organization has not specified the funding amount it is looking to attract to develop Dogebox.
The foundation aims to give people alternatives to traditional financial practices, which includes banks, brokers, and other third parties to facilitate transactions between two parties.
“We are currently seeking major sponsors for 2025, to benefit collectively from building open-source utility for the future of decentralized payments: putting crypto to work for its intended purpose, as a means of exchange, free from tyranny for all humanity,” the tweet noted.
For now, the foundation has not disclosed a specific timeline for the development of Dogebox.
In 2023, the Dogecoin Foundation had launched a fund pool of five million DOGE tokens, aimed at funding the growth of the memecoin.
This week, open interest for Dogecoin reported exceeded $4 billion (roughly Rs. 33,725 crore), marking the highest point for memecoins in terms of bets from futures traders.