The Telegram-native meme coin DOGS has achieved a remarkable feat, with 17 million users claiming tokens just after its launch, as reported on the project’s Telegram channel.
As interest in Telegram-based initiatives grows, DOGS has swiftly become a popular asset, garnering significant attention in the meme coin market.
DOGS Meme Coin Achieves Milestone
According to data from Tonviewer, over five million wallets currently hold DOGS on the TON blockchain. This notable figure was attained within just two weeks of launch. For context, only Tether’s USDT on the TRON blockchain and Ethereum (ETH) have a greater number of holders than DOGS.
The TON Community announced that in the last two weeks, the number of daily active user addresses for DOGS has exceeded 1.1 million on several occasions, with daily transactions peaking at an impressive 14.4 million.
Here are some key takeaways from the report after the token distribution:
- 53 million users interacted with the DOGS Mini App.
- 42.2 million users were eligible for the token airdrop.
- 17 million users successfully claimed their airdropped tokens.
- 4.5 million unique holders identified.
Read more: What Are Telegram Mini Apps? A Beginner’s Guide to Crypto
As interest in the DOGS meme coin rises, it distinguishes itself from other meme coin projects by delivering genuine utility within the Telegram ecosystem, supported by the TON blockchain. The team focused on distributing most tokens to longtime Telegram users, enhancing its attractiveness.
Looking forward, TON is striving to welcome “tens or even hundreds of millions of users” through token generation events (TGEs) associated with its flagship tap-to-earn games, such as Catizen and Hamster Kombat. These games have significantly contributed to user growth, attracting millions to the Web3 gaming sector.
Read more: 7 Trending Meme Coins and Altcoins in 2024
Despite its achievements, the TON blockchain has encountered various challenges, including significant outages related to TGEs and the recent arrest of Telegram CEO Pavel Durov in France. The allegations have led to policy changes for Telegram, creating additional challenges for the platform’s growth trajectory.
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