Dogecoin 2.0, the Upgraded Version: Will It Gain Popularity Like the Original Version?

Study about Dogecoin and Dogecoin 2.0: The original and the upgraded version.

Dogecoin 2.0

Dogecoin 2.0

Cryptocurrency has become a worldwide phenomenon lately, albeit much is still to be found out about this advancing technology. Dogecoin is a cryptocurrency that was established as a joke by software developers Billy Markus and Jackson Palmer, who wanted to make fun of the rampant cryptocurrency speculation of the time. Despite its humorous character, some people regard it as a viable financial opportunity. Dogecoin’s emblem and name are inspired by the Shiba Inu dog from the “Doge” meme. On December 6, 2013, it was unveiled.

Since the beginning of April, the popularity of the meme cryptocurrency Dogecoin has been rising among Indians. According to the Google search trends, there were more searches for the term Dogecoin on Google than Bitcoin, Ethereum, and other cryptocurrencies. Ignoring standard wisdom, thousands of youngsters and millennials have favored meme coins rather than more stable and fundamentally robust altcoins like Matic, which is a solely Indian cryptocurrency.

The showcase of such interest in Dogecoin can be seen mainly because of the Tesla Founder’s comment on a popular US comedy show. Indian youngsters and millennials are fans of Elon Musk, this has led to the increasing interest in Dogecoin.  Also, Musk’s tweet on sending Dogecoin to the Moon added to the heed by youngsters in this meme coin, Dogecoin.

Dogecoin 2.0 is a DEFI token on the BSC network. It was created by members of the Dogecoin (CCC: DOGE-USD) community to be an upgraded version of the original.

According to the crypto’s website, Dogecoin 2.0 is “Dogecoin but Upgraded!” The website says it “aims to offer investors prolonged growth in utilizing a much more sustainable tokenomics structure than its somewhat inflated predecessor.”

After the popularity of Dogecoin, there have been a lot of coins in the market with a similar idea. A few of these names are Shiba Inu and Baby Doge, but still, these developers named the tokens differently. But now, a new project has surfaced, which calls itself Dogecoin 2.0. As this is straight-up copying the original currency, the Dogecoin foundation is not happy about the same. Hence, they are taking steps and want the developers to change the name of the currency.

After the community noticed this new coin, they issued legal demands asking them to change the name. While the community allows its users to use the Dogecoin branding and name for memes and goodies, it doesn’t allow for a new currency using the same name. The foundation said that they don’t want users to get confused with the new Dogecoin 2.0, and therefore, the name needs to be changed. The worst part is that the website of Dogecoin 2.0 seems to belittle the one it copied, saying that “it’s inflated” and they are better.

The problem with this project is that they have used the original name, which might trick people into believing that it is a new project by the main community. In fact, due to the name itself, there has been a 100% increase in its price in just 24 hrs of trading. However, it’s good to see that the Dogecoin foundation is taking appropriate action against the new token and trying to protect its investors.

Dogecoin Current Price: US$0.2038

Dogecoin 2.0 Current Price: US$0.0592

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