Bitcoin-based meme coin DOG•GO•TO•THE•MOON (DOG) has surged to its highest price since June 2024, fueled by speculation around a potential futures listing on Binance and broader hype around dog-themed cryptocurrencies.
Key Highlights
- Price Rally: DOG jumped 88% weekly to $0.007, while related tokens PUPS (+31%) and BDC (-1%) showed mixed performance.
- Exchange Momentum: Kraken’s futures listing for DOG on November 15 sparked trader enthusiasm, with Binance reportedly reviewing DOG, PUPS, and BDC for potential listings.
- Market Context: Dogecoin and other meme coins across Solana and Ethereum are also trading at multi-month highs, driven by political and macroeconomic speculation.
What Is DOG?
DOG is a Runes protocol token etched onto the Bitcoin blockchain, airdropped in May 2024 to holders of the Runestone Ordinals project. It quickly became the most widely held Runes token, now boasting a $791 million market cap.
Bitcoin’s Fungible Token Landscape
- BRC-20 vs. Runes: BRC-20 tokens now dominate 55% of Bitcoin fungible token transactions, overtaking Runes’ 45% (a reversal from Runes’ 94.7% dominance in October).
- Ordinals Protocol: Pioneered by Casey Rodarmor, Ordinals enabled innovations like Runes, which Rodarmor humorously called a platform for "creating shitcoins."
Leonidas, DOG’s pseudonymous creator, told Decrypt:
“DOG sits at the intersection of meme coins and Bitcoin. With Dogecoin and others valued at ~3% of their chain’s native currency, many expect DOG to mirror this trend.”
FAQs
Why is DOG gaining traction now?
Recent exchange listings (e.g., Kraken Futures) and broader meme coin rallies have amplified interest. Political shifts (e.g., U.S. election speculation) also buoyed crypto markets.
How does DOG differ from Dogecoin?
DOG is Bitcoin-native (via Runes), while Dogecoin operates on its own blockchain. DOG’s scarcity mechanics and Bitcoin’s security model differentiate it.
What’s next for DOG?
If Binance lists DOG futures, liquidity and trading volume could surge further. However, meme coins remain highly volatile.
👉 Explore the latest Bitcoin meme coin trends
Editor’s note: This article was updated for clarity and brevity. Original reporting by Decrypt.
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