© Reuters Dogecoin Goes Red: Can What Lies Hidden In McDonald’s, Burger King Logos Reverse The Good Boi’s Fortunes?(CRYPTO: DOGE) traded 4.5% lower at $0.12 over 24 hours leading up to early Thursday morning.
| 24-hour | -4.5% |
| 24-hour against | 0.9% |
| 24-hour against | 0.05% |
| 7-day | -12.12% |
| 30-day | -30.2% |
| YTD performance | -32.8% |
See Also: How To Buy Dogecoin (DOGE)
Why Is It Moving? DOGE traded in the red along with other major coins at press time as the global cryptocurrency marketcap fell 4.2% to $1.76 trillion at press time.
DOGE was not among the most mentioned coins on Twitter (NYSE:) at press time, according to Cointrendz data.
The three most coins at press time were Bitcoin, Elrond, and . They attracted 2,490, 2,353, and 1,219 tweets, respectively.
on Wednesday night, DOGE spiked along with other coins after an executive order issued by President Joe Biden was perceived as benign by the market.
DOGE co-creator Billy Markus posted a meme on the volatile upheaval that the cryptocurrency market is witnessing currently.
whee pic.twitter.com/Fx1qhlFz7D
— Shibetoshi Nakamoto (@BillyM2k) March 10, 2022
Dogecoin Chatter: On Wednesday, Dogecoin-millionaire, Glauber Contessoto, said the cheaper DOGE gets the more “people will be willing to buy in.”
We honestly have to look at this as an opportunity for new investors to get on board the #dogecoin train. When I said I want us all to be rich – I meant it, obviously that’s statistically impossible but the cheaper that #doge is the more people will be willing to buy in.
— SlumDOGE Millionaire (@ProTheDoge) March 9, 2022
Markus retweeted a post that featured a modified version of the meme shared by Tesla Inc (: TSLA) CEO Elon Musk earlier on Wednesday.
The DOGE co-creator wondered if the presence of “Dogecoin” in the collective logos of certain fast food companies was coincidental.
Coincidence, @McDonalds @MrBeastBurger @tacobell @BurgerKing? https://t.co/rRIC0jA2q2
— Shibetoshi Nakamoto (@BillyM2k) March 10, 2022
Read Next: South Korea Elects President Who Supports NFTs, Lower Taxes On Profits From Bitcoin, Ethereum, Dogecoin
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
The Dogecoin Foundation, a nonprofit organization to support the cryptocurrency Dogecoin (CRYPTO: DOGE), has registered European Union trademarks for “Dogecoin”, “Doge” and associated logos in a move that it says further safeguards its name and imagery.
What Happened: The Dogecoin Foundation said on Twitter the registration was “a small victory … but an important step” due to an increasing number of “bad faith attempts” by other people and organizations to take control of its brand and image.
Given an increasing number of bad faith attempts to register trademarks for “Doge”, “Dogecoin” and even the logos created for Dogecoin by Christine Ricks by people and organisations, we had no option but to register them to protect all good shibes in the @Dogecoin community. 2/2
— Dogecoin Foundation (@DogecoinFdn) March 2, 2022
See also: How To Buy Dogecoin
Why It Matters: The Dogecoin Foundation, which was re-established in August 2021 after a six-year hiatus, has been attempting to quell several imitators trying to cash in on the Dogecoin brand and name.
The foundation was competing with half a dozen others to file an official claim with the U.S. Patent and Trademark Office on the dogecoin brand name, it was reported in September, citing the Wall Street Journal.
Although created as a joke in 2013, Dogecoin shot to popularity last year mainly due to endorsements from Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk.
Advisors to the board include Dogecoin co-creator Billy Markus, Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin, and Musk’s legal and financial advisor, Jared Birchall.
Price Action: Dogecoin has shed 4.9% during the past 24 hours, trading at $0.1257 at press time, and is down 27.2% so far this year.
Read Next: This Dogecoin Rival Is The Most Traded Crypto By Ethereum Whales Today
The Dogecoin Foundation announced on Twitter on Wednesday that it had registered “Doge,” “Dogecoin” and its associated logos as trademarks in the European Union. The certificate displayed in the tweet was dated Jan. 13, 2022.
Foundation executive board member Jens Wiechers said in the tweet thread, “The issue isn’t (and has never been) use in memes, etc, but attempts by people completely unaffiliated with Dogecoin to register them, which only really makes sense if they want to then extort either the community or the Dogecoin project, devs, foundation, etc. directly.”
Much success.
It’s a small victory that seems so very irrelevant given all that’s currently happening in the world, but it’s an important step.Thank you @DACBeachcroft (& for this: @PageWhite_IP Germany), as well as @MosesSingerLLP for their representation in the USA.
1/ pic.twitter.com/nufaJLUSFG
— Dogecoin Foundation (@DogecoinFdn) March 2, 2022
Since its revival in August, the Dogecoin Foundation has faced numerous issues with the use of its name and imagery due to the fact that the foundation did not seek trademark protection at the time of its creation in 2014. In the United States, as of September, the foundation’s application at the U.S. Patent and Trademark Office was competing with “half a dozen” others, and “at least 100” cryptocurrencies not related to the Dogecoin Foundation were using the Dogecoin name.
Another apparent consequence of the scramble over the cryptocurrency’s name has been the resignation of foundation director Ross Nicoll. Announcing his decision in his blog on Feb. 16, Nicoll wrote that the foundation “is operating in an extremely challenging environment” where “the stress involved is overwhelming.”
According to Nicoll, “a number of parties were registering trademarks for Dogecoin,” and “in the summer of 2021, there was a potential lawsuit against the developers from someone who claimed we were responsible for their funds.”
Nicoll also mentioned a possible conflict of interest with his day job as a software developer at Alphabet. He remains at the foundation as an adviser. The Dogecoin Foundation, in its announcement of Nicoll’s move, said Nicoll told core members of his plans almost a year ago, and “has been instrumental in the re-establishment of the Dogecoin Foundation” with his departure in mind.
Dogecoin Foundation took a bold step in registering ”Doge,” ”Dogecoin” and logos
The Dogecoin Foundation says that there have been an increasing number of bad faith attempts to register trademarks for “Doge,” “Dogecoin” and even the logos created for Dogecoin by Christine Ricks. It had no option but to register them to protect ”all good Shibes in the Dogecoin community.”
Given an increasing number of bad faith attempts to register trademarks for “Doge,” “Dogecoin” and even the logos created for Dogecoin by Christine Ricks by people and organisations, we had no option but to register them to protect all good shibes in the @Dogecoin community. 2/2
— Dogecoin Foundation (@DogecoinFdn) March 2, 2022
The Dogecoin Foundation posted an image of its certificate of registration with the European Union’s intellectual property unit, to which ”it stated it’s a small victory that seems so very irrelevant given all that’s currently happening in the world, but it’s an important step.”
Much success.
It’s a small victory that seems so very irrelevant given all that’s currently happening in the world, but it’s an important step.Thank you @DACBeachcroft (& for this: @PageWhite_IP Germany), as well as @MosesSingerLLP for their representation in the USA.
— Dogecoin Foundation (@DogecoinFdn) March 2, 2022
As U.Today previously reported, Ross Nicoll, a former director of the Dogecoin Foundation in February, stated that the foundation operates in a challenging environment.
Nicoll, who remains a full-time software developer at Alphabet Inc, offered the following reasons for why he stepped down from his role at the Dogecoin Foundation: workload stress and the resolve to avoid a potential conflict of interest.
The top Dogecoin developer noted in a blogpost that ”the Dogecoin Foundation was operating in an extremely challenging environment where every step of the way simple processes are significantly more complex than they should be.”
He stated that in 2021, some parties registered trademarks for Dogecoin, fraudulently claiming to be ”dogecoin” or ”Dogecoin developers.” In the summer of 2021, there was a potential lawsuit against the real Dogecoin developers from someone who claimed they were responsible for their funds.
This might be inferred as one of the reasons why the Dogecoin Foundation took a bold step in registering ”Doge,” ”Dogecoin” and the logos created for Dogecoin by Christine Ricks.
Dogecoin acceptance
AMC Theatres customers might be able to pay with Dogecoin (DOGE) using crypto payments provider BitPay starting this month.
“BitPay will be live for AMC online payments on our website by March 19, and live on our mobile apps by April 16, possibly a few days earlier,” AMC CEO Adam Aron stated in a recent tweet.
As previously reported by U.Today, Elon Musk hints that the Dogecoin Army is pulling out all the stops to get McDonald’s to accept DOGE. The Tesla CEO took to Twitter to mention McDonald’s under a tweet related to Dogecoin and businesses new to crypto.