Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Bitcoin » Meme coin Dog Go To The Moon surpasses $500 million market cap

Meme coin Dog Go To The Moon surpasses $500 million market cap

by

The DOG token was airdropped for users who held the Runestone Bitcoin Ordinal until April 21.

Cartoon Shiba Inu astronaut holding DOG to the moon flag while floating in space above Earth

Share this article

The meme coin Dog Go To The Moon (DOG) rose 73% in the last 24 hours and surpassed $540 million in market cap, according to its creator, who identifies himself as Leonidas. DOG also surpassed $3.5 million in trading volume, data from marketplace UniSat shows.

Every investor holding the Bitcoin (BTC) Ordinal “Runestone” on April 21 qualified for receiving 889,806 DOG each on April 24. DOG is a token issued using the Bitcoin protocol Runes, which is used to create fungible assets on the Bitcoin blockchain, and was introduced immediately after the halving. The protocol was developed by the same creator of the Ordinals protocol, Casey Rodarmor.

Over 3.5 million Runes-related transactions have been executed since April 20, representing 63.6% of all transactions on the Bitcoin blockchain for the past six days, according to a Dune Analytics dashboard created by user Cryptokoryo.

Moreover, Runes investors paid 2,113 BTC in fees, equivalent to over $136 million in Bitcoin price at the time of writing. Despite the DOG success, the Runestone price tanked after the snapshot for the token airdrop was announced on April 21, falling from 0,07 BTC to 0,027 BTC currently, a 61.5% drop in less than a week.

However, prices might still go up, as Leonidas mentioned that two other meme coins will be airdropped for Runestone holders during the current bull run.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.