The Dogecoin Foundation, an organization that created in 2014 when Jackson Palmer and Billy Markus gave birth to DOGE, has been relaunched in recent days with a renewed board. Among its top representatives are now Vitalik Buterin, the founder of Ethereum, and Jared Birchall, a representative of Elon musk.
In january of this year cryptocurrency meme took an extraordinary leap in terms of capitalization and price. In just 5 months it went from a price of USD 0.04 to a maximum of USD 0.74, thanks to the media support of several prominent market figures, mainly the CEO of Tesla and SpaceX.
However, a drop began on May 8 that would leave the price of DOGE wandering for months between $ 0.20 and $ 0.30, and in the last week it has partially recovered above that level. With the relaunch of the Foundation, now they will seek to further stimulate that recovery.
“We are here to accelerate the development effort by supporting Dogecoin Core and future Dogecoin developers to work full time through sponsorship, in addition to provide a welcome landing for new contributors hoping to help with the project“, reads the statement of the renewed organization.
One of the short-term objectives of the Foundation is to form a small working group to fully devote itself to new developments. Buterin and Birchall stand out as directors of the Board, who was also senior vice president of the US bank Morgan Stanley.
Birchall’s position shows that Musk still backs cryptocurrency meme. Some months ago, the magnated highlighted DOGE as a better alternative for minimal transactions than bitcoin (BTC) or ether (ETH), as it considered its transactions “Expensive and slow”.
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