news.bitcoin.com
A meme token named DOG•GO•TO•THE•MOON, created by Leonidas, the founder of Ord.io, has reached a new peak and is now the ninth-largest meme coin by market capitalization. At the time of writing, the token’s market value stood at $695 million.
The Top 10 Meme Coins Now Have Bitcoin-Centric Member
A new meme coin has entered the top ten meme token rankings, and for the first time, it marks a significant achievement for a meme coin asset created from the Bitcoin blockchain. The token, DOG•GO•TO•THE•MOON, referred to as DOG hereafter, has steadily climbed the ranks since its launch and airdrop to Runestone NFT holders.
According to data collected by coingecko.com, DOG is the ninth largest meme coin by market cap, but it ranks as the 132nd crypto asset by market valuation among all cryptocurrencies globally. At press time, DOG is trading at $0.006997 per unit as of 6 a.m. Eastern Time on Thursday.
The current price reflects a 7.5% decline from its all-time high (ATH) of $0.007542 per coin on May 30, 2024. The Runes-based meme token’s market valuation peaked at $745 million. Over the past week, DOG has increased by 79% against the U.S. dollar, and it has surged 216% over the last 30 days.
Current data indicates that 70,292 unique bitcoin addresses hold DOG, with the top address controlling 3.24% of the supply. On the digital collectibles marketplace operated by Okx, DOG is the most popular Runes-based token today, recording 577.39 BTC, or $39 million, in the past 24 hours. On Magic Eden, DOG ranks as the second most traded Runes token, with a 24-hour trade volume of 86.57 BTC, or $5.8 million.
DOG’s ascent exemplifies the growing influence of meme tokens within the cryptocurrency ecosystem. As mainstream adoption of digital assets accelerates, unconventional tokens like DOG and many others could potentially disrupt traditional financial markets, challenging longstanding assumptions about value and investment paradigms.
What do you think about DOG’s exponential rise? Share your thoughts and opinions about this subject in the comments section below.