Dogecoin Foundation Denounces Doge-Themed Coin

[Nathrixxx]

For the lovers of dogecoin here's a news thread refuted by Dogecoin official website that it has nothing like dogecoin 2.0 no new version or subsidiary one launched yet.

They added that it's a DeFi token on Binance Smart Chain network. Pls I strongly advise we should take note, nothing like doge 2.0

The Dogecoin Foundation (DOGE) is planning to take legal action against Dogecoin 2.0.

According to the DOGE website,

“[We] welcome newcomers to the crypto space, but this [other] project has no connection to or relationship with Dogecoin. To protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse, we have asked our brand protection lawyers to contact the developers of the ‘Dogecoin 2.0’ product.”

Dogecoin, which started as a joke in 2013, had a breakout year in 2021 with the help of celebrity endorsements and the power of memes. It is up over 6,000% year to date and is now the seventh biggest crypto asset in the world by market cap.

DOGE2 was created in April of this year, and the coin has surged from its original price of $0.000000009 to $0.069597 at time of writing.

Despite the similar names, there are distinct differences between the two projects. DOGE is inflationary with a proof-of-work blockchain protocol, which means miners are rewarded in Dogecoin for solving complex transactional equations, whereas DOGE2 has a limited supply and a proof-of-stake system, which greatly reduces energy consumption.

According to the Dogecoin 2.0 white paper, it is a decentralized finance (DeFi) token that operates on the Binance Smart Chain (BSC) network. Calling itself an “upgraded” version of DOGE, DOGE2 has a supply that will be capped at 100 million tokens compared to Dogecoin’s circulating supply of over 131 billion and an unspecified maximum supply, according to CoinMarketCap.

DOGE2 is not the first dog-themed memecoin to make waves, with Shiba Inu (SHIB) achieving a top-50 market cap ranking valued of $3.5 billion, at time of writing.
https://dailyhodl.com/2021/09/02/dogecoin-denounces-doge-themed-coin-thats-just-surged-by-triple-digits/

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[tabas]

It's the usual issue that most projects are getting. Just to take the fame of the current coin, they'll make use of it such as implementing 2.0 or a hard fork.
It happened not just to bitcoin, to ethereum classic and as well as to a fork that came out with another fork.

[AmoreJaz]

for those who are holders of doge2 or has plans to buy this token, think hard before you get involved with it. it may be increasing today as seen from the chart below, but how long do you think they can enjoy this sharp increase? they can go down hard anytime as now the news denouncing this token from original doge has been out already. ask yourself, what is the reason that it will continue to get the interest of crypto community? any solid foundation where they can hold onto or are they just using the popularity of doge?


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[Yaunfitda]

Good to hear that they are taking legal steps against this Doge 2.0.

I really think that the people behind this project are just taking advantage, hence 2.0 and other similar theme coins. But this is the crypto world we live in, I'm not saying that those are straight up scammers, but those copy cats are obvious on jumping the hype of the original and they can even promote it as better than Doge. So everyone just be careful out there and hopefully you will not fall for this kind of trick, as this will be used as pump and dump.

[shinratensei_]

Im supporting it, the fork coin is just like a pleague. It must be wiped out lol doge 2.0 was using a very similar name to the doge coin. I hope that there will be no a copy-paste coin that misleads people with a similar names.
It seems like that when the developers of dogecoin 2.0 know about this and then the developer will be gone to the somewhere as it will be making him to be jailed.
Legal action must be taken to fight the scammers. Too many scammers in the market fool people use the copy-paste name from the original coin.

[Ozero]

Im supporting it, the fork coin is just like a pleague. It must be wiped out lol doge 2.0 was using a very similar name to the doge coin. I hope that there will be no a copy-paste coin that misleads people with a similar names.
It seems like that when the developers of dogecoin 2.0 know about this and then the developer will be gone to the somewhere as it will be making him to be jailed.
Legal action must be taken to fight the scammers. Too many scammers in the market fool people use the copy-paste name from the original coin.

Many unscrupulous people always strive to copy successful coins or tokens in this market in order to make more money on it. At the same time, similar in name cryptocurrencies are often created in order to mislead investors. So far, this can only be dealt with by explanatory work. Decentralized cryptocurrency does not allow any body to take measures to prohibit the appearance of such copies of cryptocurrencies, otherwise we would again have a regulatory body that could allow abuse when solving such issues.
Here, the participants of this market must learn to understand such issues themselves and not invest just because similar projects have achieved success.