DOGS Meme Coin Ranks Third by Holder Count, Trailing Only USDT and ETH

• DOGS has become the third-most-owned crypto just days after its airdrop, setting the record for a new token with 17 million users participating in its airdrop.
• With 4.5 million unique wallets on the TON blockchain, DOGS only trails Ethereum and USDT for unique token holders on one chain.

Just when you thought the meme coin frenzy was over, DOGS has revived it. The fun-themed token, centred around a dog mascot that was originally created by the Telegram co-founder, has blown up in the few days since its launch and is now the third-most owned token in the world.

In a recent Telegram post, the TON community developer team revealed that over 4.5 million unique wallets now hold DOGS on the TON blockchain, “putting it in a unique position — it has the most unique token holders on any chain ever, and it achieved this in just 2 weeks.”

DOGS was airdropped towards the end of August in an airdrop that was so popular that it led to a user spike on TON that resulted in a six-hour outage, the most significant in the network’s history. Since then, its trajectory has been upward,

It has shot up to become a $523 million token, just missing out on the top 100 coins and being valued higher than established projects like Decentraland, ApeCoin, Zcash, Book of Meme and IOTA.

This rise is centred on a strong community. According to the Telegram post, over 17 million users have claimed DOGS, making it the third-highest-owned crypto after Ethereum and USDT, the largest altcoin and the largest stablecoin respectively.

The team added:

In the last 2 weeks, our daily active user addresses hit 1.1M several times, with single-day transactions peaking at 14.4M. The DOGS token distribution played a key role in this surge

Other landmark achievements by the meme coin include having 53 million users engaging with the DOGS Mini App and having 42.2 million users being eligible for the token airdrop.

“These levels of user engagement were unimaginable in Web3 before,” the TON team says.

It’s a DOGS World

DOGS trades at $0.001013, dipping 5% in the past day as trading volume took a nosedive after a bright start to the week, as we reported.

According to one analyst, DOGS broke out of a falling wedge pattern with its surge at the start of the week, signalling a bull run that he believes could take it to $0.001108, as shown below.

Meanwhile, another community member believes that DOGS could take a similar price path to NOT, the other TON ecosystem token that has had such a big splash.

https://twitter.com/silverhandcrypt/status/1833124159842652588

Other dog-themed coins have not fared better in the past day. Pack leader DOGE lost 3.4%, while the sensational WIF shed 6.9%. Bonk and Floki each dipped 4.5%. Overall, dog-themed coins are worth $28.612 billion, with DOGE and SHIB accounting for over 75%.