Some outstanding dog-themed meme cash are fetching larger costs to begin the week, with cash modeled on Dogecoin’s mascot leaping larger—alongside a Bitcoin-based meme coin that’s devoted to a pet sporting an orange hoodie.
DOG•GO•TO•THE•MOON (aka DOG), a so-called Runes token that launched alongside the protocol’s debut in April, set an all-time excessive worth of $0.0096 late Sunday, in line with knowledge from CoinGecko. In the meantime, its market cap hit $966 million, surpassing a earlier peak seen in June.
Runes was developed by Casey Rodarmor, whose Ordinals undertaking sparked a buzzy marketplace for Bitcoin-based collectibles following its launch final yr. Collectively, the tasks search to deliver belongings resembling meme cash and NFTs to crypto’s O.G. community.
Meme cash are extraordinarily risky belongings, even by crypto requirements, buying and selling on little greater than vibes and the eye they will muster on-line. Whereas Dogecoin’s $64 billion market cap looms massive within the meme coin area, its success has paved the best way for numerous tokens using on its canine coattails through the years, which principally exist on any chain that one can consider.
DOG•GO•TO•THE•MOON was launched by its pseudonymous co-creator Leonidas in April, who airdropped the token extensively to holders of the Runestone Ordinals undertaking. Amongst notable buying and selling venues, the Bitcoin-based meme coin has since been listed on the OKX alternate and cross-chain NFT market Magic Eden.
“A new all-time high is especially exciting because we did it without a spot listing on a tier-1 exchange,” Leonidas advised Decrypt.
Although DOG’s worth has elevated 35% over the previous week, buyers have in the meantime seemed towards meme cash with four-legged mascots on different chains. Amongst notable gainers, these included Child Doge Coin on BNB Chain and Neiro on Ethereum.
Child Doge Coin (BABYDOGE) was launched in 2021, and naturally, it pays homage to Dogecoin. Although its peak worth Monday was nonetheless beneath a peak of $0.000000006288, the meme coin’s worth jumped 33%, putting it inside placing distance of a earlier all-time excessive.
When Dogecoin’s mascot, a Shiba Inu canine named Kabosu, handed away in Could, the event was felt far outdoors the cryptosphere. Quickly after, nonetheless, a 10-year-old rescue pooch named Neiro was later adopted by Kabosu’s proprietor, which the crypto group was fast to embrace.
Meme cash impressed by Neiro had been launched individually on Ethereum and Solana. And whereas neither have been endorsed by Nerio’s proprietor, an Ethereum-based model of Neiro (NEIRO) reached a $1.1 billion market cap final month. On Monday, the token’s worth elevated by 10%, reaching a worth of $0.002, in line with CoinGecko.
Notably, DOG, Neiro, and Child Doge Coin noticed outsized buying and selling volumes on Gate.io, a Cayman Islands-based alternate. Every coin had notched $61 million, $56 million, and $187 million in buying and selling quantity over the previous day, respectively, on the platform, in accordance CoinGecko.
Whereas Bitcoin transactions involving Runes accounted for 81% of community exercise days after the protocol for memetic belongings was launched in April, an preliminary wave of hype has receded. Nonetheless, Bitcoin transactions involving Runes totaled 8% of Bitcoin transactions Sunday, suggesting their on-chain presence stays considerably sturdy, per knowledge from Dune.
Edited by Andrew Hayward