Crypto

Team officially re-establishes Dogecoin Foundation after 6 years



After several years of nearly total media silence, the Dogecoin Foundation is coming back to support core developers and projects benefiting the meme-based cryptocurrency.

In a Tuesday announcement, the Dogecoin Foundation said it would be re-establishing itself in an effort to support the Dogecoin (DOGE) community as well as promote the future of the blockchain. The foundation said it would be announcing new projects in the coming weeks encouraging the adoption and utility of DOGE “that increase Dogecoin uptake at a grassroots level.”

“The Foundation holds the Dogecoin mark and the Dogecoin Logo and will maintain them for the community,” said the announcement. “This will mean the Foundation can continue to protect the Dogecoin Brand and allow (under a very liberal license) the ability to use it for Dogecoin-related memes, projects and fun. — We’ve got your back on this one.”

According to the foundation, it is aiming to secure a three-year budget to on-board team members to support its goals. The project’s website lists Ethereum co-founder Vitalik Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller as advisory board members. In addition, Tesla CEO and DOGE proponent Elon Musk’s interests will seemingly be represented by Neuralink CEO Jared Birchall.

Related: Dogecoin hasn’t always been a ‘fun meme coin’

First formed in 2014 months after Dogecoin founder Jackson Palmer announced the project on Twitter as a joke, the foundation was behind many charitable contributions in and out of the crypto space. However, after some of its founders — Ben Doernberg and Eric Nakagawa — left the original foundation, the group had largely been silent.

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As data from Cointelegraph Markets Pro shows, the price of DOGE has risen more than 19% in the last week to reach $0.32 at the time of publication.