DOGS: The New Meme Coin Inspired by Telegram's Spotty Mascot

Newly-launched TON meme coin, DOGS has emerged as one of the most trending topics in the crypto town following its explosive debut on Binance and other major crypto exchanges.

This article was paid for*

Newly-launched TON meme coin, $DOGS has emerged as one of the hottest topics in the crypto town following its explosive debut on Binance and other major crypto exchanges.

Within hours of its listing on Binance, the dog-inspired meme coin experienced a dramatic price surge, jumping 150% from its launch price of $0.00054.

More so, according to an analysis from CEX.IO, $DOGS recorded a staggering $2 billion trading volume on its launch day, highlighting the excitement and speculative interest surrounding its multiple listings.

After posting consecutive gains within just a few days of going live, $DOGS finally attained its current all-time high of $0.0018.

However, this initial spike was followed by a sharp correction, with the $DOGS price hovering between the $0.00121 and $0.00128 range at press time.

Will $DOGS see a rebound in its price before September? Or will it continue its downtrend? This article forecasts where the price of $DOGS could be heading, taking into account the current conditions in the broader market.

What Exactly Is $DOGS?

Developed on TON, one of the fastest-growing blockchains, $DOGS is a new meme coin that symbolizes the strength of the Telegram community. The token is inspired by Spotty, a mascot created by a popular entrepreneur and Telegram founder Pavel Durov.

Spotty is more than just a dog imagery – it represents care, love, and charity. It was drawn by Durov during a charity auction to support orphanages. In fact, prior to its adoption by $DOGS, Spotty was initially recognized as the unofficial mascot of VK, a Russian social media platform.

By embracing this special symbol, $DOGS aims to redefine the narrative in the meme coin space. This project is integrated into the Telegram app, featuring a mix of meme culture with social interaction to deliver a fun-filled and rewarding experience for its community members.

Marketed as the “most Telegram-native meme coin,” $DOGS leverages the widespread popularity of the social networking app to reach a wide audience. It currently boasts a growing user base of more than 50 million, making it one of the most viral Telegram mini-apps after Hamster Kombat and Tapswap.

Users of the app are able to savor free tokens by interacting with its Telegram bot, completing tasks, and inviting friends and families to its ecosystem.

Amid much fanfare, the project finally launched its airdrop campaign for eligible community members to claim their tokens. The launch was managed by TokenTable, a specialist in automated token distributions.

According to reports, over 400 billion $DOGS were distributed during the airdrop, making it one of the largest free token distribution events ever witnessed in the crypto scene.

In addition to its airdrop program, $DOGS also opened for trading on crypto exchanges so that beneficiaries can put their earned tokens to best use.

Above all, $DOGS has no tangible use case at the moment. However, its developers are already working behind the scenes to introduce new features that will allow users to mint meme stickers and sell them on-chain.

$DOGS Price Prediction

$DOGS officially entered the market a couple of days ago and quickly captured the attention of the crypto community due to the success of its airdrop event and the buzz around its listings. According to findings, not less than 40 million users participated in the airdrop, reflecting the strong engagement and interest in the $DOGS community.

Tonscan, a well-known blockchain explorer, indicated $DOGS airdrop generated “quite a lot of traffic,” thereby causing approximately 8 hours of network outage on the TON blockchain. The level of participation in the token distribution program, coupled with its listings on top-tier exchanges like Binance, Bitget, MEXC, and even Bybit fueled the initial price appreciation recorded by $DOGS.

Historically, any meme coin that is listed on the aforementioned exchanges, especially Binance, gets significant trading volume, which often can lead to a parabolic increase in price.

Therefore, considering the vast user base of these exchanges, it is no surprise that $DOGS recorded a massive surge of interest upon launch, becoming one of the first meme coins to surpass the $1.7 billion trading volume within the first ten hours of launch. More so, despite being a new entrant, $DOGS surprisingly outperformed major meme coins including Dogecoin, Shiba Inu, and even Bonk.

현재 시가총액이 6억 달러를 넘는 $DOGS는 Book of Meme 및 Popcat 등을 성공적으로 대체하여 시장에서 8번째로 큰 밈 코인으로 부상했습니다. Coinglass에 따르면 이 인상적인 시장 성과는 많은 거래자들이 단기 가치에 대해 이야기하는 가운데 커뮤니티의 강력한 관심을 의미합니다.

그러나 그럼에도 불구하고

The above is the detailed content of DOGS: The New Meme Coin Inspired by Telegram's Spotty Mascot. For more information, please follow other related articles on the PHP Chinese website!