DOGS Meme Coin Soars into Top 100 Cryptos, Strains TON Blockchain Amid Airdrop Frenzy

DOGS, the latest meme coin on the TON blockchain, achieved a $2.5 billion trading volume within 24 hours of its release. Despite causing performance issues on the TON network, DOGS has entered the top 100 cryptocurrencies by market cap, reaching $630 million.

DOGS (DOGS), the newest meme coin sensation on the TON blockchain, has made a dramatic entrance into the cryptocurrency market. Just 24 hours after its airdrop and subsequent listing on major centralized exchanges (CEXes), DOGS has secured its place as the seventh most traded cryptocurrency, with a staggering trading volume of nearly $2.5 billion, according to CoinMarketCap.

At its peak, DOGS reached a market capitalization of almost $900 million, surpassing well-known cryptocurrencies such as Flow (FLOW), BitTorrent (BTT), and even the TON-based Notcoin (NOT). This remarkable achievement is especially notable given that DOGS did not require its community to perform any specific actions to be eligible for the airdrop. Instead, allocations were distributed based on the number of days users had been active on Telegram.

The overwhelming demand for DOGS led to significant strain on the TON blockchain, causing degraded performance across various applications, including Wallet and Tonkeeper. Despite these technical challenges, DOGS was swiftly listed on several top exchanges, including Binance, OKX, Gate.io, Bitget, and Bybit.

Following its listing, DOGS’ price initially dropped by 25%, stabilizing around $0.0012 per coin. Nonetheless, the coin has quickly gained a foothold among the top 100 cryptocurrencies by market capitalization, currently sitting at 96th place with a market cap of $630 million. Additionally, DOGS has become one of the top 10 largest meme coins, pushing out Cat in a Dogs World (MEW) from the elite group.

Although the launch was marred by technical issues and the emergence of scam copycats, DOGS has proven its resilience and potential within the rapidly evolving meme coin space.

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