Dogecoin Foundation makes a strong comeback! Ethereum founder and long-time partner of Musk join as advisors.

Established in 2014, after years of silence, the Dogecoin Foundation announced its reactivation with a strong advisory team. In addition to providing a three-year development budget for team members, the foundation also hinted at a major update to the core wallet in a few weeks, aiming to seamlessly integrate Dogecoin with financial, social, and charitable applications.

Despite the positive news, Dogecoin (DOGE) has dropped by 10% in the past 24 hours, ranking just below DOT with a 12% decrease among the top ten cryptocurrencies by market capitalization.

Development Stagnation

According to an announcement from the Dogecoin Foundation, the key points include:

• Advancing the Dogecoin Ecosystem
• Sponsoring to provide full-time work for core developers and future developers
• Promoting compliance of the Dogecoin core wallet and integration with financial, social, and charitable applications
• Resisting regulation: Some jurisdictions are attempting to ban the use of Dogecoin logos and symbols by communities and projects

Strong Advisory Team

The foundation points out that it has a small, exquisite, and amazing advisory team, which includes board members such as:

• Dogecoin Core Developer Ross Nicoll
• Dogecoin Core Developer Michi Lumin
• Dogecoin Foundation Senior Jens Wiechers
• Community promoter and Foundation Product Lead Timothy Stebbing
• Decentralized Dance Party DDP Founder and Dogecoin Community Senior Gary Lachance

The Board's advisory team includes:

• Ethereum Founder Vitalik Buterin
• Dogecoin Core Developer Max Keller
• Dogecoin Co-Founder Shibetoshi Nakamoto Billy
• Neuralink Co-Founder Jared Birchall, Musk's legal and financial advisor representative

The Dogecoin Foundation was originally established in 2014 but ceased operations after co-founders Ben Doernberg and Eric Nakagawa left the team.

Dogecoin Manifesto

In the announcement, the foundation claims to simplify Dogecoin's spirit into four statements, two focusing on technology and two on social aspects. The full manifesto reads as follows:

We are Dogecoin, a crypto movement born out of serendipity that brings smiles to people.

We are creating a currency for the masses and committing to doing good. By developing Dogecoin, we will embody the following values:

• Utility: We value utility over fancy tech
• Charisma: We prioritize community interaction over profit-driven motives
• Reliability: We focus on solutions over delivery speed
• Accessibility: We value collaboration and trust over competition and monopolies

While technology, profit motives, and delivery speed have value, we prioritize the former.