Despite receiving a warning from the Dogecoin Foundation, Dogecoin 2.0 (DOGE2) managed to record a jump of over 170%, from $ 0.075 to $ 0.119 in just 24 hours.
DOGE2 is a copycat of DOGE who appears to claim to be ‘Upgraded Dogecoin’ in the form of a decentralized financial token (DeFi) in Binance Smart Chain (BSC).
The token was launched in early May, followed by listings on several other exchanges causing its price to skyrocket in a short time.
The emergence of DOGE2 invites vulnerabilities from the Dogecoin Foundation which has issued a stern warning to Dogecoin 2.0:
“We hope they consider the request to change the new name for the project so as not to infringe on the rights and reputation of the Dogecoin project. We are excited to look forward to any of their innovations in the future. ”
For the record, the Dogecoin Foundation was not at all involved with the establishment of DOGE2.
Similar in terms of its name, Dogecoin-Dogecoin 2.0 has the potential to cause confusion among investors, especially if the DOGE2 project faces major issues.
The Dogecoin Foundation is an organization that provides support to Dogecoin-related developers and projects. The organization also listed Ethereum founders Vitalik Buterin and Elon Musk as new board members.
At the time of writing, DOGE2 is trading at $ 0.1146. The asset hit a new all -time record high (ATH), $ 0.16 early this morning, showing a decline of over 25%.
While DOGE posted a trading value of $ 0.29, down more than 2% in 24 hours and more than 60% from ATH, $ 0.74 on May 8th.
