DOGS Token Becomes Third-Largest by Holders, Surpassing 17 Million Claims on TON Blockchain

Telegram-based DOGS meme coin has soared in popularity, now ranking third by holder count with 17 million token claims, trailing only Tether (USDT) and Ethereum (ETH) in total wallet holders.

The DOGS meme coin, native to the Telegram platform, has rapidly ascended the ranks of the cryptocurrency world, setting a new milestone shortly after its launch. The project announced on its Telegram channel that over 17 million users have claimed DOGS tokens, solidifying its position as the third-largest asset by holder count. This achievement places DOGS behind only Tether’s USDT on the TRON blockchain and Ethereum (ETH) in terms of wallet holders.

Data from Tonveiwer, a blockchain analytics tool, reveals that over five million unique wallets now hold DOGS tokens on the TON blockchain, a remarkable feat just two weeks after the token’s launch. The community’s excitement for this new meme coin is evident, with DOGS consistently surpassing 1.1 million daily active user addresses and reaching up to 14.4 million daily transactions.

The initial token distribution also highlighted the broad interest in DOGS. According to a report from the TON community:

• 53 million users interacted with the DOGS Mini App.
• 42.2 million were eligible for the token airdrop.
• 17 million users successfully claimed their airdropped tokens.
• 4.5 million unique holders were recorded.

Unlike other meme coins, DOGS offers real utility within the Telegram ecosystem, powered by the TON blockchain. This utility has contributed to its rapid adoption. Most of the tokens were distributed to long-time Telegram users, further strengthening the coin’s appeal among the platform’s user base.

Looking ahead, TON is focusing on expanding its reach by engaging “tens or even hundreds of millions of users” through token generation events (TGEs) for its tap-to-earn games, such as Catizen and Hamster Kombat. These games, which allow users to earn tokens through simple gameplay, have driven a surge of new users into the Web3 gaming space.

Despite the early success, TON has faced challenges. The blockchain experienced significant outages related to recent TGEs, and the arrest of Telegram’s CEO, Pavel Durov, in France has added pressure to the platform’s growth. The charges against Durov have prompted policy changes within Telegram, which could impact the platform’s future trajectory.

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