As platforms find success, several copycats began emerging. It’s the same case for the Dogecoin network. Despite starting out as a mere meme coin, DOGE garnered immense popularity as well as value. From endorsements from prominent personalities like Tesla’s Elon Musk, the altcoin rose to the top. Trying to mirror its success, Dogecoin 2.0 [DOGE2] was rolled out on the Binance Smart Chain Network back in May.
Dogecoin Foundation takes the legal road
The foundation in a recently issued statement urged DOGE2 to change its name. In the detailed statement, the foundation was seen pointing out the need for a change in name as it had the potential of misleading the DOGE community. Furthermore, having similar names could open the doors to being misused.
Even though DOGE2 had amassed a spot on prominent crypto exchanges, the Foundation asserted that this copycat network had no connections with the original asset. Furthermore, the network’s brand protection lawyers had reportedly contacted the developers behind DOGE2.
Elaborating on the same, the foundation further wrote,
“We hope our reasonable request will see their development team select a new name for their project which does not infringe on the rights and reputation of the Dogecoin project, and we look forward to any innovations they may make in their future endeavours.”
The website of DOGE2 claims to be better than the original. “Dogecoin but Upgraded!” the website reads. The network suggested that it hopes to provide the investors with “prolonged growth in utilizing a much more sustainable tokenomics structure than its somewhat inflated predecessor.”
The Foundation, however, denies any involvement with this new network.
Additionally, at the time of writing, DOGE2 was trading for $0.037 with a whopping 100% daily surge.