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Dogecoin (DOGE) continues to make the news even now, months after its legendary price surge that took it higher than ever before. All the attention it got from the media, crypto investors, its re-awakened community, and, of course, Elon Musk, caused DOGE’s team to return and continue working on the coin’s technological development. What’s more, the team just officially re-established the Dogecoin Foundation, after six years of its inactivity.
What this means is that the Foundation is back, and it is going to support core developers and projects that will bring benefit to the Dogecoin project.
The Dogecoin Foundation Returns
The Dogecoin Foundation announced its return yesterday, August 17th, in which it declared that it returned to support the DOGE community, but also to promote the future of the blockchain. Given the fact that DOGE has been rudderless for years, there is a lot of catching up to do. Its developers returned a few months back, saying as much on the occasion.
However, now that the Foundation itself has been re-established, it announced that there will be some new projects in the upcoming weeks. They did not release a lot of details, not wanting to spoil the surprise. However, they did say that the deals and projects they have in the works will encourage the adoption and utility of Dogecoin. Essentially, their goal for the project is to see the increased use of the coin ‘at a grassroots level.’
The announcement continued to say that the Foundation holds the Dogecoin mark and the Dogecoin Logo, and that it will maintain them for the community. In other words, it will continue to protect and push the Dogecoin Brand, allowing the ability to use it for DOGE-related memes, projects, and fun, in general.
DOGE reveals new board members
In addition to everything already mentioned, the foundation also spoke about the funding, noting that it has a plan to secure a three-year budget, that would allow the team to onboard new members and expand. A portion of the money will also be used for supporting the project’s goals.
There were also several names that emerged on the Dogecoin website as official advisory board members. Those include Billy Markus, who co-founded Dogecoin; Vitalik Buterin, who co-founded Ethereum; as well as DOGE’s own core developer, Max Keller. Also, due to his large role in DOGE’s revival, Tesla’s CEO, Elon Musk, will also have a representative — Jared Birchall, who is the acting CEO of Neuralink, another one of Musk’s projects.
All of this sounds quite promising for Dogecoin, and it hints at a bright future for the project. While DOGE did see a massive burst of popularity earlier this year that pushed its price, activity, and user number sky-high, the return of the Dogecoin Foundation might be considered the mark of the project’s true revival.
Dogecoin is a crypto project that was launched back in 2014, and it was unlike any other crypto project seen up to that point. It didn’t come with a plan to revolutionize some industries or change the world. It was simply a meme-based cryptocurrency, created as a joke and a means of lighting up the mood in the crypto industry, which has started to take a dark turn.
DOGE apparently did the trick, and despite the fact that even its founder, Jackson Palmer, did not expect it to live for more than a couple of months — DOGE somehow ended up lasting for seven years. Not only that, but it never strayed too far from the top currencies list, or losing its popularity.
Earlier this year, it even inspired an entire movement that saw the creation of countless other meme-based cryptocurrencies. Over the years, Dogecoin’s team and community were behind several charitable contributions, but ultimately, its founders — Ben Doernberg and Eric Nakagawa — decided to leave the foundation. The remaining members were silent ever since, until yesterday when they returned and announced the project’s own return to glory.
Of course, there is no way of knowing how successful DOGE may become, or even whether it will ever reach the community’s goal of $1. However, this is certainly a positive sign for the world’s first and largest memecoin, and its progress will be closely watched by the entire crypto world.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.