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Dogecoin Foundation Asks copycat meme coin ‘Dogecoin 2.0’ to change its name

Dogecoin 2.0, a fresh-looking Memecoin, ruled his name at the Dogecoin Foundation’s feathers.

Dogecoin Foundation makes a statement to distance itself from a new Dogecoin 2.0 (DOGE2) copycat project. Therefore, it calls on legal parties to have the new meme coin renamed.

In a letter issued on 31st August, the Dogecoin Foundation claims brand protection attorneys are in place. This is to contact the creators of the Dogecoin 2.0 to “protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse.”

The website of Dogecoin 2.0 implicitly shades the canine tomb with the following words.

“Dogecoin 2.0 aims to offer investors prolonged growth in utilizing a much more sustainable tokenomics structure than its somewhat inflated predecessor.”

Shibes Reservation

Additionally, the foundation’s letter claims that Dogecoin fans, or “Shibes,” voiced reservations over the new initiative. The foundation alleges Dogecoin 2.0 of co-opting the Dogecoin image and reputation for benefit. Moreover, the community has generally accepted new crypto initiatives.

The Dogecoin 2.0 network on the Binance Smart Chain Network was released in early May. DOGE2 is trading at $0.04 now. Almost 100% of the daily volume gained over 24 hours and less than $100,000.

The public announcement was made only weeks leading to the restoration of the Dogecoin Foundation following a six-year break. The foundation supports core developers and Dogecoin initiatives. Notable cryptographers, including Vitalik Buterins, co-founder of Ethereum, and Elon Musk, CEO of Tesla, have endorsed Dogecoin.

DOGE’s Rise

Since the beginning of 2021, Dogecoin saw a tremendous increase in price and popularity.

According to Coingecko, the price of DOGE soared at $0.68 at all-time levels in May, and over the next two months, it was over 73% to test it for a low of $0.18. DOGE is going up for sale for around $0.30 in August after earning 50%.

Various other canine tokens, including DogeCash, UnderDog, and DogeToken, have arisen to cash in Dogecoin’s current buzz.

Shiba Inu, the most profitable, is the 46th biggest crypt asset according to CoinGecko, with a market worth of $3.64 billion.

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