Bitcoin Breaks $50k Anew And Dogecoin’s Throne Threatened By Dogecoin 2.0
Last Updated on 4 September 2021 by CryptoTips.eu
Bitcoin broke through $50k for the third time in two weeks and it is now a matter of time to see if the level can hold and we can start making a move for the next leg up. Which would be $60k and a possible attack of its all time high of $64k. At the time of writing, Bitcoin is trading around $50,250.
Other coins followed suit as well with Ethereum just shy of $4k and Cardano is still trading around the $3 mark.
Nobody moves, nobody gets hurt
Who’s the King, who’s the king, who’s the king y’all? Nobody moves, nobody gets hurt. This is what the pop group Dog Eat Dog asked back in the 1990s. At the time, they launched the song in order to (funnily) define whether groups like Rage Against The Machine (RATM), Clawfinger, Soundgarden or their own band were the best of the era. It is safe to say that RATM won the plot.
It is a small step from Dog Eat Dog to Dogecoin and as the world’s best known memecoin is now being taken on by Dogecoin 2.0, the world of crypto seems ready to ask the same question.
Nothing caused as much hype in the first half of 2021 as Dogecoin’s meteoric rise to 75 cents. It also attracted many copycats, such as the Shiba Inu coin and now Dogecoin 2.0.
Dogecoin Foundation issues warning
Dogecoin 2.0 (DOGE2) is a copy of Dogecoin which was launched on the Binance Smart Chain back in May already. The imitator coin had gone relatively unnoticed until now. However, the resurrection of the Dogecoin Foundation, which aims to protect Dogecoin, is a game-changer for Dogecoin 2.0, after it issued a warning against the copycat coin.
In a letter published on August 31, the Dogecoin Foundation claims to have hired lawyers specializing in trademark law, in order to protect the Dogecoin community. In addition, the Foundation asked the developers of DOGE2 to change the name of the project.
They stated:
As always, the Dogecoin Foundation welcomes newcomers to the crypto space but this 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.
In return, many on the cryptosphere discovered Dogecoin 2.0 for the very first time and sent the copycat up 300% in a week. We’ll soon be asking: who’s the king?
amonphan147 / Depositphotos.com
