Can I wipe my iMac in Target Disk Mode?

My iMac died on me in March of 2018, we were in the middle of getting ready for a cross country move and in an effort to save all my information and files, I was able to use Target Disk Mode to onto an external hard drive so I have everything.

But my iMac is sitting here collecting dust, so I figured I would recycle it and keep my keyboard and mouse to use with my Macbook for work and what not.

Here's my question; is it possible for me to erase and wipe all my information on my iMac in Target Disk Mode? I would really love to do that so I can recycle especially since it's just a giant paperweight now.

Any advice or suggestions? Is this even possible?