Memecoin Dog Go To The Moon (DOG) Strengthens 73% In 24 Hours

Meme coins on the Bitcoin network, Dog To The Moon (DOG) skyrocket. (Photo; Doc. CryptoDaily)

JAKARTA - The Dog Go To The Moon (DOG) meme coin is in the spotlight of the crypto community with a significant price increase. Within 24 hours, DOG experienced a 73% spike that became a positive momentum for this digital asset. The creator of DOG, known as airing, announced that the DOG market cap had exceeded $540 million or around Rp8.7 trillion based on the current exchange rate.

At the same time, DOG trading volume also reached $3.5 million (Rp56.7 billion), showing high liquidity and interest levels from investors. The increase coincided with the announcement that any investor holding the 'Runestone' Ordinary Bitcoin (BTC) on April 21 would receive 889,806 DOGs on April 24, as part of the planned airdrop.

For your information alone, DOG is a token issued using the Bitcoin Runes protocol, which allows the creation of exchangeable assets on the Bitcoin blockchain. This protocol is the latest innovation developed by Casey Rodarmor, who is also the mastermind behind the Ordinary protocol. The Bitcoin Runes protocol was introduced to the public immediately after the Bitcoin-halving event, marking a new chapter in the evolution of blockchain technology.

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Since April 20, more than 3.5 million transactions related to Runes have been carried out, representing 63.6% of all transactions on the Bitcoin blockchain over the past six days. This figure is taken from the Dune Analytics dashboard created by Cryptokoryo users, showing how much activity is happening around the Runes ecosystem.

Investor Runes has also paid a fee of 2,113 BTC, which is equivalent to more than $136 million (Rp2.2 trillion) based on the current Bitcoin price. Despite the success achieved by DOG, Runestone prices experienced a decline following the announcement of a snapshot for the airport token on April 21, down from 0.07 BTC to 0.027 BTC, a 61.5% drop in less than a week.

On the other hand, there is hope that prices can go up again. How come it has mentioned that there are two other meme coins that will be airdroped to Runestone holders during the ongoing bull run period.