DOGS Memecoin Hits 17 Million Users

The most massive token generation event (TGE) ever organized by memecoin occurred with the recently released Dogs token.

A recently launched memecoin called DOGS has attracted a record-breaking 17 million users in a groundbreaking event on The Open Network (TON). The rapid adoption highlights the growing influence of memecoins in crypto markets.

DOGS Memecoin Hits 17 Million Users

The most massive token generation event (TGE) ever organized by a memecoin occurred with the recent launch of the Dogs token.

Inspired by Telegram co-founder Pavel Durov’s classic dog drawing, Dogs (DOGS) is a memecoin project on TON. According to Cointelegraph, more than 17 million people have claimed their DOGS coins.

The Dogs Mini App has over 53 million users, of whom 42.2 million are eligible for the token airdrop, the TON community announced via Telegram on Sept. 10. This makes it “the largest meme TGE in cryptocurrency history.”

“DOGS token is now held by 4.5M unique wallets on TON, putting it in a unique position — it has the most unique token holders on any chain ever, and it achieved this in just 2 weeks. Only USDt on TRON and Ethereum have more holders than DOGS.”

While this is a respectable amount of memecoin holders, it pales in comparison to the most popular digital currencies. For instance, Ether has over 273 million unique addresses (Ycharts data).

TON Experiences Outages Due to Memecoin Investment

Following the TGE, the memecoin experienced a surge in investment, which caused two major outages on TON that were linked to Dogs.

The TON community is now eagerly awaiting the upcoming airdrops of the Catizen and Hamster Kombat tokens, which they expect to have an even greater impact than the successful Dogs token launch.

'Catizen' and 'Hamster Kombat' Airdrops Anticipated

In a post, a member of the TON community speculated that the two airdrops could begin as early as September:

“In September, we anticipate even larger TGEs for Catizen and Hamster Kombat, which could bring tens or even hundreds of millions of users to the blockchain for the first time.”