For several years, the once famous Dogecoin Foundation has almost completely disappeared from the flow of news related to cryptocurrencies. Now it decided to return to provide full support to developers and projects working with assets based on memes.
The Dogecoin Foundation announced yesterday that it will be recovering to provide assistance to the community; as well as to further advance the blockchain technology. The foundation indicated that it will announce new projects over the coming weeks; that will encourage the adoption of DOGE in order to increase its presence among users.
The announcement states that the fund has the right to own the Dogecoin mark and logo. The foundation will provide protection for the DOGE brand, and will grant permission to use it for memes, projects that are related to Dogecoin.
According to the fund, a three-year budget will be presented for all team representatives. The fund’s website lists the characters of the advisory board. It includes Vitalik Buterin, Billy Markus, and Max Keller, the chief developer of Dogecoin. It also includes Jared Birchall, CEO of Neuralink. He will most likely represent the interests of Elon Musk, who has long supported the meme asset. Largely thanks to him, Dogecoin became famous among crypto enthusiasts. Since in 2021, Elon Musk, actively began to promote the token on Twitter.
The entrepreneur spoke out about the main problem of Dogecoin, offered money to large holders of a digital coin, and also bought several tokens for his son. Against the backdrop of these statements, in just three days the value of Dogecoin increased by 1115%.
Dogecoin Foundation decided to return
Recall that the fund was founded 7 years ago, after Dogecoin creator Jackson Palmer announced it. In turn, Ben Dernberg and Eric Nakagawa, who also took part in the development of Dogecoin, left the project and since then almost nothing has heard about the fund.
Now the Dogecoin Foundation has decided to return and start active in the cryptosphere. What can the resurrection of the fund lead to? Perhaps after such an announcement, the rate of the coin will increase, because such famous persons have entered it. We can also expect an increase in the number of active supporters of this famous meme-coin.
At the moment, the work of the Dogecoin Foundation organized on a volunteer basis, but the organization plans to attract funding from sponsors. The first goal of the structure is to form a three-year budget that will allow hiring a minimum staff to develop Dogecoin.
New projects will also be announced in the coming weeks that will complement the current Core Wallet to provide faster integration and simplified APIs for financial, social and philanthropic projects wishing to use Dogecoin.
Further development of the situation will depend on what exactly the fund will do in the near future. If his support proves useful for Dogecoin, then he will further strengthen his position. But if, apart from loud announcements and advertising projects, nothing offered, then the Dogecoin Foundation may repeat the fate of many other funds created with the noble purpose of supporting cryptocurrencies, and then disappearing irrevocably.