Dogecoin Labs Wants to Build the Economy Behind the Meme Coin’s $1 Rallying Cry

Dogecoin Labs launched on October 21 in partnership with the Dogecoin Foundation, placing the MyDoge wallet, DogeOS app layer and Such App payments tool under CEO Jordan Jefferson. The nonprofit Foundation keeps its open-source development, advocacy and community work, while Nasdaq-listed House of Doge moves parts of its product, engineering and commercial operations into Labs and takes an undisclosed equity stake. House of Doge gives up its exclusive Foundation partnership for a long-term license to keep working with 21Shares on Dogecoin exchange-traded products. MyDoge has over 500,000 users without paid acquisition, DogeOS opened a public testnet on September 30, and Such App is in beta; DOGE traded at $0.0799, down 21.43% in a month and 36.8% this year.