KANALCOIN NEWS – Dogecoin Foundation is reportedly suing Dogecoin 2.0 for allegedly violating their copyright.
The Dogecoin Foundation is a non-profit organization dedicated to supporting various projects related to Dogecoin.
Actually, Dogecoin has been around for a long time and was on hiatus for six years. However, recently the Dogecoin Foundation has been active again.
This is because DOGE is becoming increasingly popular, which is the embodiment of Dogecoin in the current cryptocurrency market.
However, after only a few weeks of being active again, the Dogecoin Foundation has been busy with legal matters.
The business in question is related to tokens that are considered to be imitating Dogecoin, namely Dogecoin 2.0.
According to a Cointelegraph report quoted by Kanalcoin.com, the Dogecoin Foundation is legally suing Dogecoin 2.0 to change their name.
The Dogecoin Foundation has also involved lawyers specializing in trademark copyrights. In addition, the foundation has also communicated with the developer of Dogecoin 2.0.
In this allegation, the Dogecoin Foundation accused Dogecoin 2.0 of using Dogecoin’s success for profit.
As such, the Dogecoin Foundation wants to make every effort to protect the Dogecoin community who may be deceived by the misused Dogecoin 2.0 name.
Dogecoin 2.0 itself was launched by one of the largest cryptocurrency companies in the world, Binance Smart Chain Network in early May 2021.
On their official website, Dogecoin 2.0 claims to improve the existing system in Dogecoin as their predecessor.
“Dogecoin 2.0 aims to offer investors long-term growth leveraging a much more sustainable tokenomic structure than its somewhat improved predecessor,” the official Dogecoin 2.0 statement reads.
Currently, Dogecoin 2.0 or codenamed DOGE2 is trading at $0.04 per coin. In fact, DOGE2 has received an average profit of 100% per 24 hours.
However, the daily transaction volume of DOGE2 is still below $100 thousand or around Rp1.43 billion.
The emergence of DOGE2 clearly worries a number of the Dogecoin community. This is because the DOGE value is increasing here and there.
In fact, according to data from CoinGecko quoted by Kanalcoin.com, DOGE prices peaked last May.
for the month, DOGE’s price was $0.68 per coin, although it had to drop another 73 percent two months later to hit a low of $0.18.
However, it has rebounded in recent times and touched $0.30 per coin after rising 50 percent during August.
Since the popularity of Dogecoin, now other dog-themed coins have appeared in various parts of the world.
Some of them, such as DogeCash, UnderDog, and Doge Token. However, until now, Dogecoin bearing the Shiba Inu symbol is still the highest dog-themed coin.
Their market cap value has even reached $3.64 billion and is the 46th largest crypto asset according to CoinGecko.
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