The Dogecoin Foundation has issued a statement distancing itself from a new copycat project called Dogecoin 2.0 (DOGE2), firing off legal demands that the new memecoin change its name.
In a letter published Aug. 31st, the Dogecoin Foundation asserts it has engaged brand protection lawyers to contact Dogecoin 2.0’s developers in a bid to “protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse.”
Dogecoin 2.0’s website indirectly throws shade at the original canine-themed crypto, stating:
“Dogecoin 2.0 aims to offer investors prolonged growth in utilizing a much more sustainable tokenomics structure than its somewhat inflated predecessor.”
The Foundation’s letter states that Dogecoin enthusiasts, or “Shibes,” have raised concerns about the new project. While the community has historically welcomed new crypto projects, the Foundation accuses Dogecoin 2.0 of co-opting the Dogecoin brand and reputation for advantage.
Dogecoin 2.0 was launched at the start of May on the Binance Smart Chain Network. DOGE2 is currently trading at $0.04 after