Table of Contents
- Bitcoin Runes token DOG•GO•TO•THE•MOON (DOG) ascends because the ninth largest memecoin by market cap.
- According to the latest knowledge, 72.5K holders maintain DOG tokens.
Bitcoin Runes-based memecoin DOG•GO•TO•THE•MOON (DOG) hits $500 million market cap following bulletins of its listings on 4 notable centralized exchanges (CEXs) inside the final 24 hours.
This surge has catalyzed DOG to hitch the highest 10 memecoins by market cap. Notably, DOG stands on the ninth spot, with two hyped Solana-based memecoins — Book of Meme (BOME) and Cat in a dogs world (MEW) — forward within the rankings.
According to knowledge on MagicEden, at press time, the typical flooring value of this Runes token was 7.7 sats (satoshis), price $0.0051. 100 billion DOG tokens recorded a market cap of $495.3 million and a 24-hour buying and selling quantity of $7.34 million.
This dog-themed memecoin was “etched” onto the Bitcoin blockchain by way of the Runes Protocol. It was then airdropped to eligible Runestone NFT holders on April twenty fourth. So far, crypto exchanges equivalent to OKX, Gate.io, CoinW, Bitrue, CoinEx and Cube have listed DOG. Marketplaces equivalent to MagicEden and UniSat even have listed this token.
What’s the Next Target For Bitcoin Runes DOG?
Spiking the Bitcoin meme maxis’ hype, the pseudonymous co-creator Leonidas has unveiled his ‘ideal’ expectations for “phase 2 in DOG’s memecoin lifecycle” on X. This consists of that includes on the famed digital artist Beeple’s feed, listings on tier 1 CEXs, and better market cap targets.
Practically talking that is what part 2 in $DOG’s memecoin lifecycle ideally ought to seem like:
– Beeple on a regular basis
– Multiple tier 1 CEX listings
– At $767M MCAP we hit entrance web page of CoinMarketCap
– At $1B MCAP mainstream media protection beginsYou should not prepared for Phase 3
— Leonidas (@LeonidasNFT) April 26, 2024
Following DOG, different Runes within the lineup are RSIC•GENESIS•RUNE (RSIC), holding a market cap of $210 million and 22,255 holders, and LOBO•THE•WOLF•PUP (LOBO), with $56.3 million and 74,408 holders.
Since its launch on Halving Day, Runes has captured a dominant share of transactions on the Bitcoin blockchain. On Tuesday, 81% of on-chain transactions have been associated to those “etched” tokens. Launch of Ordinals took over the realm in 2023, spurring the Inscriptions and BRC-20 bandwagon. How will these Runes that increase the creation of fungible tokens on Bitcoin lead the sport now?
