Dogecoin (DOGE) price rises 2% to $0.22 as Elon Musk’s lawyer, Alex Spiro, leads a new $200 million Dogecoin treasury company. Investors are being pitched on the vehicle, with House of Doge signing off on the plan, making it the official corporate Dogecoin entity. Spiro will serve as chairman.

Spiro, known for representing Musk, Jay-Z, and Baldwin, will chair the new public company. It remains uncertain if Musk will be directly involved. In the past, Spiro helped win a lawsuit against Musk accused of manipulating Dogecoin’s price, calling it a “very good day for Dogecoin.”

Musk’s influence on Dogecoin is evident, with DOGE often surging after his tweets or appearances. The Dogecoin treasury, following Strategy’s Bitcoin proxy model, could offer traditional investors a new way to gain exposure to the memecoin. Today, Dogecoin is trading at $0.22, up 2%.

Elon Musk’s attorney, Alex Spiro, will lead the new Dogecoin treasury company, aiming to raise $200 million. Musk’s impact on DOGE is significant, triggering price rallies with his tweets. This move could open up new investment opportunities for traditional investors looking to enter the memecoin market.

Read more at Yahoo Finance: Dogecoin rallies as Elon Musk’s lawyer prepares $200M treasury company