Although Dogecoin (DOGE) initially emerged as a joke, it has reached a value of $ 36 billion, making it one of the most important names in the crypto asset world.
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According to the blog post shared today, the Dogecoin Foundation has appointed its lawyers to protect its brand.
Dogecoin 2.0, a replica of Dogecoin, was released on Binance Smart Chain earlier this year and is claimed to be an updated version of the original DOGE.
Unlike its predecessor, Dogecoin 2.0 has a fixed supply of 100 million coins. There are also smaller fees since BSC is working on it.
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Dogecoin 2.0 was also featured on CoinMarketCap earlier this month, following its May distribution.
While Dogecoin 2.0 has a diluted market cap of only $2.7 million, some concerned community members reported the token to the Dogecoin Foundation. The lawyers of the Dogecoin Foundation want Dogecoin 2.0 to choose a different name.
“We request that the project choose a new name that does not violate the rights and reputation of the Dogecoin project. We also look forward to any innovations they can make in their future endeavours.”
The revamped Dogecoin Foundation went live again earlier this month. Elon Musk’s business partner Jared Birchall and Ethereum (ETH) founder Vitalik Buterin are also on the foundation’s advisory board.