- Over 4.5 million wallets and 17 million token claims, with daily users at 1.1 million, indicating strong engagement.
- Price consolidates around $0.0009233; stability above this level could propel DOGS to previous high, potentially increasing by 72%.
The DOGS token, a rapidly popularizing memecoin inspired by Pavel Durov’s dog drawing, is now the third most held cryptocurrency, positioned just behind stalwarts USDT and ETH.
DOGS ascendancy in the crypto market has been marked by a big holder count, amassing over 4.5 million unique wallets and registering more than 17 million token claims since its inception on Telegram’s TON blockchain.
The enthusiasm for DOGS is not just limited to holder counts. The token has been breaking records in user engagement with daily active users reaching 1.1 million and single-day transactions soaring to 14.4 million.
This engagement level a robust community involvement and a growing interest that could catalyze further token generation events (TGEs), anticipated to attract millions more users as the year progresses.
However, the soaring popularity brings its set of challenges, particularly in scaling. The TON blockchain, host to the DOGS token, is keenly focused on enhancing its infrastructure to support this expanding user base without sacrificing performance or security.
On the financial front, DOGS has demonstrated fluctuating price actions. Despite an initial upward trajectory, the token has recently been trading within a narrow range, indicating a consolidation phase.
Currently, the DOGS/USDT trading pair hints at a tentative market with the token price hovering around $0.0011, just above a crucial support level of $0.0009233. A hold above this support could potentially push the price towards a previous peak of $0.00166, marking an upswing.
DOGS’ market activity is further underscored by its robust trading volume, which stands impressively at $859.24 million. The token’s open interest also reflects sustained trader interest, amounting to $124.57 million.
Comparatively, DOGS displays considerable liquidity when pitted against giants like USDT and ETH, evidenced by a volume-to-market cap ratio of 53.63%.
Rapid Adoption and Popularity of DOGS Token
As of our latest reports, DOGS has accumulated around 4.5 million unique holders, marking it as one of the fastest-adopted tokens since its launch. This substantial uptake positions it just behind industry giants like USDT on TRON and Ethereum in terms of holder count.
DOGS was initially inspired by a whimsical drawing of a dog by Pavel Durov, the creator of Telegram. It quickly transcended its meme origins to become a big memecoin in the crypto market, highlighted by several noteworthy metrics:
- – The token has experienced extensive daily engagement, with active user addresses reaching 1.1 million on multiple occasions.
- – It recorded single-day transaction peaks of up to 14.4 million, indicating high liquidity and active trading.
The unique draw of DOGS lies not just in its meme appeal but also in its functional ecosystem that encourages both new and seasoned crypto enthusiasts to engage deeply with its offerings.
