Telegram Becomes Launchpad for Dogs Coin, the Latest Memecoin Sensation

The crypto sector, that is presently valued at $2.05 trillion (roughly Rs. 1,72,11,513 crore), is rife with over 2.4 million cryptocurrencies in circulation with more entering every day. In the memecoin category, a new entrant named ‘Dogs Coin’ is the latest to stir up a buzz. Interestingly, Telegram, the messaging app, is serving as the launchpad for the Dogs Coin token, allowing its global userbase of over 800 million to engage with the new memecoin.

Dogs Coin on Telegram

Dogs Coin is part of a new game on the Mini Apps marketplace on Telegram, named Dogs. The game lets Telegram users play on the app and collect Dogs Coin. The ecosystem of this game and this memecoin went live on July 9.

The token has been fashioned as a tribute to ‘Spotty’, the unofficial mascot of Russian social networking firm vKontakte (VK), which was also founded by Telegram founder Pavel Durov in 2006. Durov is also the brains behind the Ton blockchain, the first link between Telegram and Web3.

On Telegram, the Dogs ecosystem has reportedly managed to amass over 3.19 million community members since its launch in July.

Every time a Telegram user invites new users to become part of the Dogs ecosystem, they get rewarded with Dogs Coin. The developers of the project reminded the Dogs community on Monday, August 12, that they will only be allowed to collect Dogs airdrop till August 14.

As of now, the Dogs Coin is only available on Telegram via airdrops and rewards. The memecoin has not been listed on any exchange yet. As per a recent blog by Indian crypto exchange CoinDCX, the listing date of the Dogs token has also not yet been announced officially.

The team handling the Dogs ecosystem, meanwhile, has warned its community members that the Dogs Coin is not presently available for trading on any exchange.

The official handle of the Dogs community on X has reached 2.5 million followers. In conversation with Gadgets360, Shivam Thakral, CEO of BuyUcoin, lauded projects like the Dogs Coin.

“Launching new projects like Dogs Token highlights the ongoing innovation and growth in the cryptocurrency space,” Thakral said. He also, however, noted, that the community needed to analyse the utility of memecoins like Dogs Coin as its adoption curve played out over time.

Indian crypto exchange KuCoin has already listed Dogs Coin on its pre-market list.

The Dogs community has reached 50 million users on the Telegram app, the developers of the project claimed on Monday.