Telegram Users Boost DOGS Meme Coin Growth

Telegram Users Drive the Rise of DOGS Meme Coin

The TON-based meme coin, DOGS, has witnessed significant growth, largely attributed to the strong support of Telegram users. Inspired by Telegram co-founder Pavel Durov's "Spotty" meme, DOGS has attracted over 50 million community members.

Understanding DOGS Coin

DOGS is a meme coin residing on The Open Network (TON). It rewarded airdrop recipients on August 26. Influenced by Telegram's Pavel Durov, the coin rapidly gained traction through Telegram's new "mini applications" feature. Airdrop distributions ranged from 5,000 to 10,000 DOGS depending on the user's registration date. Future reward mechanisms offer opportunities to earn additional tokens.

Factors Contributing to DOGS' Popularity

As the first notable meme coin in the TON Coin ecosystem, DOGS garnered substantial attention within a short period. Its task and reward system fosters community engagement while offering incentives. While DOGS lacks a comprehensive roadmap, a common feature of meme coins, its continued growth depends on the effectiveness of its reward mechanisms.

Key Insights for Investors

• Telegram's extensive user base has played a pivotal role in DOGS' rapid growth.
• The project has received strong backing from the TON Coin team, instilling confidence in its future prospects.
• The DOGS airdrop served as a stress test for the TON network, highlighting its robust capabilities.
• The coin's name similarity to Dogecoin holds the potential to enhance its popularity and value.
• The availability of 93.95% of the total supply in circulation reduces the likelihood of large token releases impacting price stability.

Token Economics of DOGS

DOGS' token economy presents a unique structure. The majority of the initial listing supply has been distributed to the community, with the team's allocation being relatively modest and gradually vested over a year. Marketing holds a significant share, second only to community distribution. Nearly all of the 550 billion maximum token supply was released on day one, minimizing the risk of price fluctuations caused by future token unlocks. Despite this, the price has remained stable in the early days, supported by listings on major centralized exchanges and inclusion in Binance Launchpool.

How to Acquire DOGS Coin

DOGS coin is available for trading on Binance, the world's leading cryptocurrency exchange by trading volume. It was listed on Binance on August 26, 2024, and can be traded in pairs like DOGS/USDT, DOGS/BNB, DOGS/FDUSD, and DOGS/TRY. To purchase DOGS, one must register with Binance, deposit fiat or cryptocurrency into their account, and proceed to buy DOGS using the desired trading pair.