Dogecoin Labs was formed with the Dogecoin Foundation to consolidate the products, intellectual property, and development teams connected to Dogecoin. Led by Jordan Jefferson, the company will operate the MyDoge wallet, the DogeOS platform, and the Such App merchant-payment tool, while developing new applications in commerce, decentralized finance, gaming, and artificial intelligence. DogeOS opened its public test network on September 30, while MyDoge surpassed 500,000 users without paid customer acquisition. At the time of the announcement, DOGE traded at about $0.084, giving it a market capitalization of roughly $13 billion, after falling about 14% over the past month and 88% from its May 2021 record.
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