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The Open Network (TON)-based meme coin DOGS quickly reached a large audience. Inspired by Telegram co-founder Pavel Durov’s “Spotty” meme character, DOGS already has over 50 million community members. Moreover, its audience continues to grow. This article will answer many questions such as what DOGS is and how to buy DOGS Coin listed on Binance.
What is DOGS?
DOGS is a meme coin that airdrop hunters worked hard for and were rewarded with on August 26. Launched on The Open Network (TON), the meme coin carries traces of Telegram co-founder Pavel Durov. Targeting Telegram users, the meme coin rapidly grew its audience by leveraging the “mini applications” feature recently added to the app.
Everyone received an airdrop based on their registration date on the Telegram app. For some users, this was limited to 5,000 DOGS, while others earned over 10,000 tokens. Additionally, the app allowed investors to increase their airdrop entitlements by experiencing examples of the reward and task mechanism it plans to implement in the future.
As the first popular meme coin launched in the TON Coin ecosystem, DOGS attracted significant attention, reaching this level in just two months. Integrating user activity with a reward mechanism, the meme coin allows participants to feel part of a community while earning rewards.
Due to its only two-month existence, it does not have a very detailed roadmap. This is not surprising for meme coins. Although DOGS is the first to bring innovation to the meme coin space, its growth will depend on how effectively it uses the task and reward mechanism in the future.
DOGS Coin Review
Telegram hosts 950 billion monthly users, and incorporating 50 million of them into its community is a significant achievement for the DOGS team. The TON Coin team also supported DOGS extensively as the most ambitious first meme coin initiative on the network. Despite quick profit-taking, investors received around $15 in rewards even if they did not complete most of the tasks.
The DOGS airdrop distribution was also a stress test for the TON network. Some exchanges had to pause withdrawal and deposit transactions from the TON network due to transaction volume during the listing. This is motivating for DOGS due to strong network activity.
Due to its name similarity with Dogecoin and its stronger active user base compared to other meme coins, DOGS could reach significant prices if it creates the expected wave.
As you can see above, the token economy is also quite interesting. The community’s share constitutes the overwhelming majority of the initial listing supply. The team’s share is quite small and will be gradually released within a year, as seen below. Another important detail is that the supply allocated for marketing is the second largest item after the community-distributed supply.
Finally, 93.95% of the maximum supply of 550 billion entered circulation on the first day. This means that the price will not be pressured by large unlocks. Despite strong sales and massive circulating supply, the price is trying to stay afloat in the early days. Additionally, being listed simultaneously on almost all major centralized exchanges and included in Binance Launchpool shows how seriously the team is taken.
How to Buy DOGS Coin?
DOGS coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. DOGS coin was listed on Binance on August 26, 2024, and opened for trading in DOGS/USDT, DOGS/BNB, DOGS/FDUSD, and DOGS/TRY pairs.
To buy DOGS coin, you must first register with the Binance exchange if you are not already a member. After completing the registration process, you need to transfer cryptocurrency or fiat currency such as Turkish lira to your Binance account wallet. Once the transfer is complete, you can buy DOGS coin from any of the four trading pairs mentioned above.
Binance to purchase DOGS/USDT trading pair, you must first go to the interface of this trading pair. Enter the desired amount in the specified area from the limit tab on the trading pair interface. After entering the amount, the purchase is completed with the DOGS Buy order.
