Today every crypto lovers are already familiar with Dogecoin. The Dogecoin comes in headlines after the millionaire Elon Musk endorsed it on Twitter several times. He is also called the Dogefather in the crypto community for supporting the Dogecoin, which was previously started as a meme currency.
The price of Dogecoin was increased suddenly after the supportive tweets for Dogecoin from Elon Musk. In a short time, the coin was able to grab the attention of every crypto lover and others who have no knowledge of cryptocurrency.
Now the Dogecoin has embroiled in a trademark battle over its name in the US.
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This coin was launched in 2013 based on the viral meme of a Shiba Inu named dog. During the time of listing on Coinmarketcap, its price was $0.001162 (On 19 Dec 2013). And now the coin is 8414% up over the past year even though it is only at a third of its all-time high price that it had achieved in May.
What is Dogecoin Trademark Battle About?
Dogecoin was founded by a non-profit organization in Colorado, Denver. They have filed now filed to trademark the name. But its two creators Jackson Palmer and Billy Markus left this cryptocurrency but all other members who have participated in this token creation are still part of its foundation.
The Dogecoin foundation’s claim on this token is not the only one. There are more than half a dozen claims in papers that have been filed in the Trademark Office on the Dogecoin brand name.
The Dogecoin Foundation is now active after many years to help this currency grow. The board of Trademark authority has included Jared Birchall, a closed associate, and representative of Elon Musk, and Vitalik Buterin, co-founder of Ethereum.
The Dogecoin Foundation is claiming, “We are here to accelerate the development effort by supporting current Dogecoin Core and future Dogecoin Developers to work on a full-time basis through sponsorship, as well as providing a welcome landing for new contributors hoping to help with the project,”.
Who are in this Trademark Battle Race?
Some are saying the Dogecoin Foundation is active after eight years when the coin is already rose to prominence, becoming one of the five largest cryptocurrencies.
Moon Rabbit AngoZaibatsu LLC, an organization based in the Cook Islands has also applied for the Dogecoin trademark.
Some say the Dogecoin was built off an altcoin called Luckycoin, which was made based on the famous cryptocurrency Litecoin. But Litecoin is owed to its origin Bitcoin. And Dogecoin’s name is based inspired by the Doge meme and Bitcoin’s name.
The lawyers and legal experts believe the Dogecoin Foundation is first in the queue to claim the trademark. And it seems the Dogecoin foundation will win the race to claim the trademark.