In a frenzy of excitement, TON’s DOGS memecoin has officially gone live on major exchanges, sending shockwaves through the crypto community.
With a staggering total supply of 550 billion $DOGS, the token’s distribution is split among community rewards, team allocation, and liquidity provisions.
TON memecoin DOGS will be issued. According to Tonviewer, the current balance of Binance is about 89 billion DOGS, of which pre-deposit is 42.57 billion, Launchpool is 22 billion, pre-deposit reward is 24.3 billion, Bybit’s pre-deposit is about 51.3 billion DOGS, and OKX is about…
— Wu Blockchain (@WuBlockchain) August 26, 2024
A whopping 81.5% is earmarked for the community, with 73% reserved for Telegram OGs who earned $DOGS through the app. The remaining portion will reward traders, sticker creators, and new community members. The team has allocated 10% for future development, locked in a 12-month vesting period, while 8.5% is dedicated to liquidity and exchange listings.
Dogenomics Breakdown
– 81.5% Allocated to the Community:– 73% of the total supply is dedicated to the Telegram OGs who earned $DOGS through the app.
– The remaining portion is reserved for rewarding traders, sticker creators, and new community members. pic.twitter.com/CY32R0txFL
— OnlyOneApril🗽 (@ProsperoApril) August 20, 2024
Network Delays As Users Rush To Claim Their Airdrops
As the on-chain claiming process began, TON’s network faced a stress test with up to 10 million users trading simultaneously. Binance reported a delay in the TON network upgrade, causing a temporary suspension of deposit and withdrawal services.
TON said that since the DOGS community has launched the on-chain claiming process, the current processing speed of requests has reached 150,000 times per minute. The TON network will be subjected to stress testing with up to 10 million users trading simultaneously. Binance…
— Wu Blockchain (@WuBlockchain) August 26, 2024
Meanwhile, Telegram Wallet and Bybit experienced technical issues due to the surge in user activity.
Telegram Wallet said that the release of DOGS caused several crypto exchanges and some Wallet functions to not work, and the Wallet’s exchange function is currently unavailable. Bybit said that due to a surge in user activity, its application was interrupted for a time, but have…
— Wu Blockchain (@WuBlockchain) August 26, 2024
Despite the chaos, DOGS’ market cap soared to $800 million before settling at a trading price of $0.0012. This wild ride marks the beginning of a new chapter for TON’s memecoin, leaving investors and enthusiasts eagerly anticipating what’s next.
BREAKING: $DOGS reached the martketcap of $847M in the 1st hour 🤯🦴 pic.twitter.com/Crj1gncJ1o
— Viktor 🐯🧡 (@s0meone_u_know) August 26, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/tons-dogs-memecoin-takes-the-spotlight-a-wild-ride-of-listings-and-surging-demand/