The Dogecoin Copycat (Dogecoin 2.0) Is Not An Upgraded Version Of Dogecoin
We’ve seen other coins arise trying to replicate Dogecoin its success, such as the Shiba Inu, Baby DOGE, Even Doge Token (Doget). And now we see Dogecoin 2.0. Dogecoin 2.0 is not an upgraded version of Dogecoin, and it was not created by DOGE developers.
Dogecoin 2.0 has no connection to or relationship with Dogecoin
Also The Dogecoin Foundation notes that Dogecoin 2.0 has no connection to or relationship with Dogecoin. Take a look at Ethereum blockchain, we know there’s an Ethereum 2.0, a version of the original blockchain being developed by the founders. They sure would have a right to sue anyone who comes up with something tagged the second version of their own project. There might be no past case relating to this kind of situation, but it is legitimate that this could be a ploy to steal some of the spotlight from Dogecoin.
So what is the DOGE community have to say? The official wraps of the DOGE community in form of the DOGE Foundation have come out to challenge the development, and they’ve asked the copycat Dogecoin 2.0 to change its name from their angle. Dogecoin 2.0 is looking to leech the DOGE brand and reputation to its own advantage, hence a demand has been made for the name to be changed.
There is a possible legal move in the background against the new meme coin
This is something coming just a few weeks after the restoration of the Dogecoin Foundation. According to the foundation, it will support core developers and projects working on Dogecoin. Moreover, this initiative attracted support from leading crypto enthusiasts like Ethereum co-founder Vitalik Buterin and Tesla CEO Elon Musk with reference to the new development. The foundation has hired professional lawyers to protect the brand of Dogecoin and reach out to the developers of Dogecoin 2.0.
The creation of Dogecoin 2.0 was back in May on the Binance Smart Chain. Currently, it’s trading at around 3.4 cents, with a 24 hour trading volume of 105K dollars, according to CoinMarketCap. We would like to see the Dogecoin name disassociated from any subsequent meme coin creation. If this is allowed to stand very soon, we’ll have Dogecoin 3.0, the new Version 4.0 and so on.
Dogecoin is still making its own moves on the daily charts, its activities are much less comprehensive than other cryptocurrencies such as Bitcoin, Ethereum, Ada, Solana and others. Dogecoin price is currently trading around 25 cents and during a dip of about 19 percent from its weekly high of about 31 cents.
Analysts suggest that the growth could slow down mid-year, but no major falls are expected, with upcoming partnerships and developments reaching. The predictions are quite optimistic in the price point of view, but undoubtedly feasible for the near future. There are still a few months left for Dogecoin to show some amazing moves, with the ongoing developments happening within the DOGE ecosystem as well as in the overall crypto market.
Our expectations for Dogecoin on the weekly charts are bullish, and we think Dogecoin may test the 45 cents level or even break it. Whatever ensues from the action against Dogecoin 2.0, we expect Dogecoin to remain unaffected as it continues to define its own fate in the market, with strong support from Dogecoin community.