貔貅币陷阱：美股公司千万美元豪赌致股价暴跌80%

比推Published on 2025-07-02Last updated on 2025-07-02

作者：Ryo

原标题：这家美股公司，花1000万美元买了个「貔貅币」

近日，上市公司建立加密货币储备的浪潮席卷全球，在美国内华达州东北部的一座小城市 Mesquite，一家上市公司 Dogecoin Cash Inc. 宣布即将建立子公司并配置 DOGE 资产。然而在此之前，该公司以提供线上大麻服务为主，期间曾创建子公司购买大量名为「Dogecoin Cash」的代币。GMGN 数据显示，该代币流动性低于 4000 美元，以及「该代币可能是貔貅」。

d1dc83f7-5c8b-4ca2-a1f3-d394b7b51f7b.png

数据来源：GMGN

DOGE 还是 DOG？

Dogecoin Cash Inc. 是一家从大麻医疗行业转型而来的上市公司，正逐步构建「大麻+加密」双主业布局。公司最早以提供远程医用大麻服务为主，旗下平台 PrestoDoctor 曾在多个州为患者提供线上咨询和大麻推荐服务，并拥有多项大麻品种与应用专利。

2024 年 11 月，公司正式由「Cannabis Sativa, Inc.」为「Dogecoin Cash Inc.」，并通过设立多个子公司进军加密资产领域。

2025 年 6 月 13 日，Dogecoin Cash, Inc. 宣布完成先前披露的收购 4.2 亿枚 DOG，公司持有的 DOG 代币总量增至 20 亿枚。此次收购还包括域名 AltcoinMarketCap.com。公司计划将该网站打造为一个社区驱动的山寨币指数平台，整合进 DOGP 更广泛的生态系统。该平台将重点展示热门、以表情包文化为核心以及社区支持的数字资产，契合 DOGP 推动去中心化加密文化的使命。

Dogecoin Cash Inc. 于 2025 年初成立全资子公司 MEME Coins Inc. 主要负责持有和管理 DOG，DOG 是一种部署在 BSC 链的山寨币，而非真正的 DOGE 狗狗币，据链上数据显示，该公司钱包已累积持有 30 亿枚 DOG；

MEME Coins Inc. 是 DCI 旗下首个涉足加密资产的子公司，布局 meme coin（DOG）战略，3 月 24 日，MEME Coins Inc. 与 Tipestry Inc. 达成协议，成功收购 10 亿枚 Dogecoin Cash（DOG）代币。6 月 25 日 SEC 文件披露：由 MEME Coins Inc. 向 Tipestry 发行 25 万股优先股，每股面值 20 美元，换取这批代币的完全控制权和所有权。Tipestry 会将代币转入一个专门的钱包，并把访问权限全部交给 MEME Coins Inc. 负责保管。

公司 CEO David Tobias 表示，这次收购是 Dogecoin Cash 扩展数字资产组合的重要一步，也进一步强化了公司在加密生态的布局。

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2025 年 7 月 1 日，新成立旗下全资子公司 Dogecoin Treasury Inc. 主要聚焦于支持公司与狗狗币相关的开发项目，协助管理公司持有或获取的数字资产（包括 DOGE），并作为协议资产所有权和长期规划的平台。Dogecoin Cash Inc. 发言人表示，DTI 为公司技术工作与业务目标提供了专门框架，有助于有序推进包括狗狗币协议在内的内部工具开发与实施。

截至目前，公司已经累计收购了超过 40 亿枚 DOG 代币，而且此次交易不会稀释原有股东的权益，资本结构也不会受到影响。然而目前没有明确文件显示该公司持有 DOGE 相关资产。

币股双跌，一波流割韭菜？

Dogecoin Cash Inc. 的股价近期进入盘整区间。截至 2025 年 7 月 1 日美股收盘，DOGP 报收于 0.0289 美元，单日跌幅 1.03%，延续近一周以来的小幅调整趋势。自 2024 年 9 月创下 52 周低点 0.0028 美元，DOGP 累计涨幅一度超过 900%，并在 2024 年 12 月触及年内高点 0.1662 美元。不过，进入 2025 年第二季度后，该股明显回落，当前价格相较高点已回撤超过 80%。

59406836-a480-4d5f-9ed2-c41e893f4346.png数据来源：TradingView

截止目前，该公司链上代币 DOG 价格距离高点下跌超 80%。

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数据来源：Dexscreener

根据公开披露的数据统计，Dogecoin Cash Inc. 呈现出一种高管主导型的股权结构。公司的主要股份掌握在董事会成员及高管手中，机构投资者参与度较低，公众股东持有其余大部分流通股。

9ef5c7e0-a251-49c0-bcd4-b57012c284f1.png

数据来源：simplywall

CEO David Tobias 是最大的单一股东，持有约 3120 万股，约占公司总股本的 22.8%。除他之外，董事 Kyle Powers、财务负责人 Carolyn Merrill、董事 Catherine Carroll、Robert Tankson 与 Trevor Reed 分别持有 160 万至 740 万股不等的股份，个人持股比例在 1.6% 至 5.1% 之间。

公司董事与高管团队合计控制超过 40% 的股份，显示出强烈的内部控制属性。这种结构在一定程度上保障了战略执行的一致性，但也意味着外部投资者在公司治理中的影响力相对有限。

机构投资者的持股比例非常低。目前，仅有少数小型机构披露持有该公司股票。例如，Advisors Management Group, Inc. 持股 42,700 股，约占总股本的 0.03%；Winch Advisory Services LLC 持股仅 93 股，占比不足 0.001%。这表明主流机构尚未对 Dogecoin Cash 表现出显著的投资兴趣。

除内部高管和少量机构之外，其余约 55% 至 60% 的股份由散户持有。这一部分构成了市场上的主要流通股来源。

原文链接:https://www.theblockbeats.info/news/58812
说明: 比推所有文章只代表作者观点，不构成投资建议
DOGEDogecoinDogecoin Cash
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