The non-profit Dogecoin Foundation has announced a revival. Ethereum co-founder and longtime associate of Tesla CEO Jared Birchell became project advisors.
The creators of Dogecoin announced the reactivation of the Dogecoin Foundation, a non-profit organization that develops and maintains the performance of altcoin.
The project has updated the advisor roster, which includes Ethereum co-founder Vitalik Buterin, Elon Musk’s representative Jared Birchell, Dogecoin co-founder Billy Markus and developer Max Keller.
The organization was founded back in 2014, but later stopped working.
Guess who's back! https://t.co/MCF9cDNowx
— Dogecoin Foundation (@DogecoinFdn) August 17, 2021
At the moment, the work of the Dogecoin Foundation will be 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.
Dogecoin was jokingly created in 2013 by Adobe programmer Jackson Palmer and enthusiast Billy Markus, who came to his rescue.
Since that time, the altcoin has not developed in any way, and one of its developers admitted at all that he got rid of the cryptocurrency in 2015. Billy Marcus revealed that he sold Dogecoin for the amount that can buy a used Honda Civic car.
Over the past six years, altcoin has risen in price by 52,627%. On August 17, Dogecoin is trading at $ 0.029, and its capitalization is $ 38.7 billion.
Dogecoin owes its rapid growth in 2021 to Elon Musk, who actively began promoting 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 background of these statements, in just three days from January 27 to January 29, the value of Dogecoin increased by 1115% (from $ 0.0076 to $ 0.069).
In early May, the value of the coin set a historical maximum at around $ 0.73 (an increase of 18 150% since the beginning of the year).
