Following the success of Notcoin, the TON network is now experiencing its own meme coin frenzy with DOGS, the latest addition aiming to capture the attention of degens and crypto investors. Can DOGS replicate the success of Notcoin and make a significant impact on the TON ecosystem? Find out more about the coin in this article.
Article Summary
- 🐶 DOGS is Telegram’s native memecoin that takes inspiration from Spotty, the mascot of VK. Spotty is a dog mascot drawn by Telegram Founder Pavel Durov.
- 🚀 The popularity of DOGS is due to its easy setup process, community-driven growth, and focus on charitable causes.
- 🪙 The allocation of the DOGS token depends on factors including Telegram account age, mini-app task completion, daily check-ins, and referrals.
What is DOGS?
DOGS is a native Telegram meme coin that has recently gained significant popularity. Like many meme coins that draw inspiration from real-life characters or figures, DOGS takes inspiration from Spotty, the mascot of the Russian social networking site VK. Spotty has been adopted as the DOGS logo and is featured across all DOGS mini-apps.
Spotty is a dog that Telegram founder Pavel Durov drew for a charity auction. The choice of Spotty is designed to tap into the potential nostalgia of popular culture and the current excitement surrounding animal-based meme coins.
DOGS’ meteoric rise can be traced back to a recent airdrop that prioritized community engagement over traditional allocation methods. By rewarding active Telegram users, the airdrop effectively brought DOGS into the crypto spotlight.
The prospect of receiving DOGS tokens simply for having a Telegram account has piqued the interest of many, leading to a surge in exploration and participation.
In addition to DOGS, another memecoin project in the TON ecosystem is Notcoin (NOT). Learn more about NOT here.
What Does Dogs Aim to Achieve?
Like most meme coins, DOGS has limited uses-case utility. As a meme coin, it primarily focuses on fun and speculation. However, DOGS’ approach of emphasizing user activity and loyalty makes it a more community-oriented memecoin.
The success of DOGS’ approach can be seen in its user base growth. They reached 1 million users in less than 24 hours and over 3 million users in 3 days since its launch. This significant growth reflects the strength and enthusiasm of the Telegram community.
The strong community support is undoubtedly believed to make DOGS a potentially long-term memecoin. Furthermore, as a project focused on community engagement, DOGS aims to prove that it is more than just a digital asset but a movement driven by its passionate community.
How Does the Dogs Mini-App Work?
DOGS mini-apps leverage Telegram’s vast user base to drive growth. Users can easily earn and claim DOGS tokens through various activities within the Telegram DOGS channel. This ease and seamless integration reinforce DOGS’ image as a community-focused protocol.
DOGS token distribution is based on criteria such as the age of a user’s Telegram account. Older accounts are allocated more tokens, incentivizing long-time Telegram users. Another criterion is Telegram account status. Premium Telegram users receive additional tokens, promoting Telegram Premium. Active users, or “OGs,” receive more DOGS tokens as an appreciation for their dedication to the Telegram platform.
This distribution method makes DOGS unique as it doesn’t rely on conventional methods like staking, total transactions, or play-to-earn. Instead, it focuses on user engagement on Telegram, creating a token allocation method that prioritizes community participation and loyalty to the platform. However, the DOGS game’s current lack of interactive gameplay raises concerns about its legitimacy and long-term potential.
DOGS operates on Telegram using the The Open Network blockchain. For a comprehensive explanation of The Open Network, read the following article.
DOGS Tokenomics
DOGS is the native utility token of the DOGS ecosystem, built on the TON network. It’s designed as a reward for Telegram users based on specific criteria. By rewarding users for being active on Telegram, DOGS has encouraged long-term participation and fostered a stronger, more connected community.
DOGS has not officially announced its tokenomics at the time of writing. However, rumors suggest that the tokenomics will be community-focused, with most tokens distributed to the community. This aims to reduce the risk of insider trading.
Like most meme coins, DOGS have a fixed supply to create scarcity. Furthermore, DOGS does not implement locking mechanisms or vesting periods. In other words, DOGS recipients can immediately trade their tokens once they have been distributed. This approach ensures that DOGS remains accessible and beneficial to all community members.
DOGS Potential as Memecoin
Unlike other meme coins, DOGS’ primary advantage is the TON network backing it. With over 50 million Telegram users, DOGS has a built-in user base, especially with the seamless integration of their mini-apps into Telegram. This makes it easy for Telegram users to join the DOGS community.
Additionally, DOGS boasts a solid and active community with millions of followers and subscribers. This robust and growing community has made DOGS a prominent meme coin, particularly within the Telegram ecosystem.
Another advantage of DOGS lies in its commitment to social initiatives. To date, DOGS has raised over $300,000 for social causes through its mini-apps. This positions it as a memecoin project with a solid dedication to making a positive impact.
Combining these three factors positions DOGS as a potential leader in the Telegram memecoin ecosystem. Furthermore, DOGS can expand its ecosystem by collaborating with other Telegram-based projects, ultimately boosting DOGS’ utility and popularity.
Since its launch, the price of DOGS tokens has remained relatively stable, ranging between $0.0010 and $0.0013. Notcoin, the pioneer of native protocols on Telegram, experienced a seven-day price correction after its launch. However, on the eighth day, its price skyrocketed by 8x.
Will DOGS follow a similar pattern? Only time will tell. As we know, meme coins are highly risky projects due to their weak fundamentals.
Struggling to decide on your next altcoin? Check out the tips and guidelines here.
Conclusion
As a meme coin, DOGS is pioneering a new approach to community engagement. They leverage Telegram’s massive user base by airdropping DOGS tokens to the Telegram community. Token allocation is determined by Telegram account age, service status, and user activity. This strategy has successfully captured the attention and interest of the crypto community.
As a native Telegram meme coin with solid community support, DOGS can potentially become the leading meme coin in the TON ecosystem. However, as a meme coin, DOGS still has the risk of failure, especially when the enthusiasm of its community wanes. Since DOGS is a new protocol, it still has a long way to go to prove that it can compete with the big existing meme coins.
How to Buy DOGS on Pintu
After knowing what DOGS is, you can start investing in DOGS by buying it on Pintu app. Here is how to buy crypto on Pintu application:
- Create a Pintu account and follow the process of verifying your identity to start trading.
- On the homepage, click the deposit button and top up the Pintu balance using your preferred payment method.
- Go to the market page and look for DOGS.
- Click buy and fill in the amount you want.
- Now you have DOGS!
In addition to DOGS, you can safely and conveniently purchase a wide range of cryptocurrencies such as BTC, ETH, SOL, and others safely and easily on Pintu. Pintu diligently evaluates all its crypto assets, highlighting the significance of being cautious.
Pintu is also compatible with popular wallets such as Metamask to facilitate your transactions. Download Pintu app on Play Store and App Store! Your security is guaranteed because Pintu is regulated and supervised by Bappebti and Kominfo.
In addition to buying and trading crypto assets, you can expand your knowledge about cryptocurrencies through various Pintu Academy articles. Updated weekly, all Pintu Academy articles are made for knowledge and educational purposes, not as financial advice.
References
- DOGS Community, What is DOGS?, Telegram, accessed on 27 August 2024.
- Daria Krasnova, What to Know About DOGS Meme Coin Ahead of Major Exchanges Listing, BeinCrypto, accessed on 27 August 2024.