Bitcoin Memecoin $DOG Hits New ATH, Nears $1 Billion Market Cap
Bitcoin Memecoin $DOG Hits New ATH, Nears $1 Billion Market Cap
The decentralized, community-led memecoin on Bitcoin, $DOG, has been making waves, especially on the social media platform X, after reaching a new all-time high (ATH) of $0.0097 as it approaches the colossal milestone of a $1 billion market cap.
Bitcoin Memecoin $DOG Market trends
At the time of writing, $DOG, was trading at $0.00913, up 3.74% in the past 24 hours. The 24-hour market volume has also increased by 15% to $150.38 million, while the token’s market cap has risen by 3.15% to reach a staggering $911.68 million. As a result, the $DOG has been trending on X since this morning. At the time of publishing, DOG is trading at $0.00886.
$DOG just broke through $900 million, and is approaching $1 billion!
The #1 memecoin on Bitcoin, the #1 chain, has established it’s launchpad.
No tier 1 listings yet, and is in position to dominate every testnet memecoin. pic.twitter.com/AuxNMFiG8J
— Dan Gambardello (@cryptorecruitr) December 8, 2024
Notably, crypto influencers are hailing DOG’s market performance as it approaches a $1 billion market cap. Touted as the “number one” memecoin on Bitcoin, DOG has established its launchpad. Despite the absence of tier-1 exchange listings, DOG is being described as being “in position to dominate every testnet memecoin,” according to Dan Gambardello.
Currently, Bitget has emerged as the leading exchange for $DOG spot volume, reporting over $8 million in volume. It is followed by MEXC, Gate.io, BingX, Bitmart, and LBank. DOG’s popularity is evident from its rapid approach to a $1 billion market cap within just six months of launch, even without any major exchange listings. Following its new all-time high, many $DOG enthusiasts have urged Binance to list the token.
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Renowned Ordinal influencer and crypto enthusiast @LeonidasNFT commented, “I can say without a doubt that this is the single most badass Ordinal inscription ever. Not only does it push the technical limits of how much data can fit into a Bitcoin block but it also sets a new standard for quality/interactivity.”
He also compared the X activity for the top dog coin of Bitcoin, Ethereum, and Solana over the past 7 days, and noted, “Despite having zero tier-1 spot listing and a market cap of only $830M $DOG on Bitcoin had the most posts (292.8K)
$SHIB on Ethereum had the second most posts (160.2K)
$WIF on Solana had only 87.7K posts despite a market cap of $3.9B and spot listings on every tier-1 CEX.”
The most striking metric, however, was posts/user, DOG recorded 13.4 posts per user, proving the enthusiasm of its community, which is why the token is surging even without any presales, or KOL influencer marketing strategy.
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Launched on April 24, 2024, as part of a volunteer-organized airdrop to the Bitcoin Ordinals community, DOG was created with no team allocation or presales. It operates on the Runes Protocol on Bitcoin and is tradable on Bitcoin L1, Bitcoin L2s, and centralized exchanges.
Also Read: Is DOGE Set to Soar? Analyst Calls $0.72 as Next Target for Dogecoin
Published at Mon, 09 Dec 2024 09:30:31 +0100