Unexpected Twist in the World of Encryption: A Marijuana Company's Exploration of Digital Assets

Recently, there has been a trend of publicly traded companies establishing cryptocurrency reserves globally. In Mesquite, a city in northeastern Nevada, a publicly traded company named Dogecoin Cash Inc. announced plans to establish a subsidiary and allocate digital assets. However, this company was previously mainly engaged in online cannabis services and had purchased a large amount of tokens called "Dogecoin Cash" through a subsidiary. According to a certain data platform, the liquidity of this token is less than $4000, and there may be risks.

Dogecoin Cash Inc. was originally a company focused on the medical marijuana industry, gradually building a dual business layout of "marijuana + encryption". The company initially provided remote medical marijuana services, and its PrestoDoctor platform offers online consultations and marijuana recommendations for patients in multiple states, holding several marijuana-related patents.

In November 2024, the company officially changed its name to Dogecoin Cash Inc. and entered the digital asset field by establishing multiple subsidiaries. On June 13, 2025, the company 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 included a domain name, and the company plans to develop it into a community-driven altcoin index platform, focusing on showcasing popular digital assets that are centered around meme culture and supported by the community.

It is worth noting that the DOG acquired by Dogecoin Cash Inc. is a cryptocurrency deployed on the BSC chain, rather than the widely known DOGE Dogecoin. The wholly-owned subsidiary MEME Coins Inc., established in early 2025, is mainly responsible for holding and managing DOG, and its wallet has accumulated a holding of 3 billion DOG.

Company CEO David Tobias stated that this acquisition is an important step for Dogecoin Cash to expand its digital asset portfolio, and it further strengthens the company's layout in the encryption ecosystem. On July 1, 2025, the company established a wholly-owned subsidiary, Dogecoin Treasury Inc., which focuses on supporting the company's development projects related to Dogecoin and assisting in the management of the digital assets held or acquired by the company.

However, the stock price of Dogecoin Cash Inc. has recently entered a consolidation range. As of the close of the US stock market on July 1, 2025, DOGP closed at $0.0289, with a daily decline of 1.03%. Since hitting a 52-week low of $0.0028 in September 2024, DOGP has cumulatively increased by more than 900%, but has clearly retreated after entering the second quarter of 2025, with the current price having pulled back more than 80% from its peak.

At the same time, the price of the company's on-chain token DOG has also fallen over 80% from its peak. This phenomenon of both the coin and stock declining has attracted market attention and discussion.

The company's equity structure exhibits characteristics dominated by executives. CEO David Tobias is the largest single shareholder, holding approximately 31.2 million shares, accounting for about 22.8% of the company's total equity. The board of directors and executive team collectively control over 40% of the shares, demonstrating a strong internal control attribute.

The shareholding ratio of institutional investors is very low, with only a few small institutions disclosing their holdings of the company's stock. Apart from internal executives and a small number of institutions, approximately 55% to 60% of the remaining shares are held by retail investors, constituting the main source of circulating shares in the market.

This unique company transformation and asset allocation strategy has sparked widespread discussion in the market. Investors and analysts are closely monitoring Dogecoin Cash Inc.'s future direction and its performance in the encryption asset field.