DOGS Meme Coin Jumps into Top 100 Cryptos and Ruins TON Blockchain

DOGS (DOGS), the most hyped meme cryptocurrency on the TON blockchain, was airdropped to Telegram users and listed on CEXes 24 hours ago. What has it achieved so far?

$2,500,000,000: DOGS hits crucial trading volume milestone 24 hours after release

DOGS (DOGS), a meme coin on the TON network, celebrated its airdrop and debut on centralized crypto exchanges 24 hours ago. In its first day on CEXes, DOGS became the seventh most traded cryptocurrency, with almost $2.5 billion in trading volume, CoinMarketCap data says.

Image by CoinMarketCap

At its peak, its capitalization reached almost $900 million, which is higher than that of veteran cryptocurrencies Flow (FLOW) and BitTorrent (BTT) and even Notcoin (NOT), another TON-based sensation.

Unlike trending "tap-to-earn" coins like HMSTR, DOGS did not require its community to perform any activity in order to be eligible for the airdrop. In mid-July, DOGS' claim was open for all Telegram users. DOGS allocations were distributed proportionally to the number of days this or that user spent using Telegram messenger.

Due to the high demand, TON blockchain and some applications (Wallet, Tonkeeper) experienced degraded performance during the airdrop yesterday.

DOGS was simultaneously listed by a number of top CEXes, including the likes of Binance, OKX, Gate.io, Bitget and Bybit. Shortly after the listing, its price lost 25% and stabilized at around $0.0012 per coin.

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Based on current prices, the average airdrop, if claimed properly and sold immediately, brought its farmer $5-$15, according to some estimations.

However, even amid the mixed signals from a community disappointed by tech issues and many scam copycats of DOGS, the token managed to make it into the top 100 by market cap.

As of prwss time, DOGS is the 96th largest crypto with a $630 million market capitalization. It is also among the 10 largest meme coins; yesterday, it forced Cat in a Dogs World (MEW) to leave the elite club.