NAIROBI (CoinChapter.com)— The meme coin DOGS, inspired by Telegram founder Pavel Durov’s mascot “Spotty,” gained quick traction on Bybit, OKX, and Gate.io. Its inclusion in Binance’s 57th Launchpool further fueled its rise.
The initial Aug. 20 listing faced delays due to high community demand. Despite this, excitement stays strong, driven by an upcoming airdrop and over 6 million users requesting direct deposits to exchanges and the Telegram Wallet.
Binance Launchpool Success or Just Hype?
DOGS’ entry into the Binance Launchpool underscores its growing traction, but past Launchpool tokens have shown varied results.
Over the last 30 days, the total market cap of Binance Launchpool tokens rose by 6.95% to $10.85 billion, while trading volume surged 40.7% to $37.40 billion. Despite these gains, individual token performance has been inconsistent.
Kava Lend (HARD) increased by 55.2% in 30 days, reaching a market cap of $21.38 million and a 24-hour trading volume of $36.25 million. Bitcoin Standard Hashrate Token (BTCST) saw a 34.8% rise, with a market cap of $2.27 million and a daily volume of $10.80K.
Sui (SUI) gained 24.9%, achieving a market cap of $2.53 billion and a trading volume of $165.19 million.
In contrast, some tokens struggled. Reef (REEF) dropped 52%, with a market cap of $16.31 million and a volume of $11.53 million. Notcoin (NOT) fell 33.4%, and XAI decreased 30.5%, highlighting the volatility of Launchpool tokens and raising questions about DOGS’ long-term prospects.
This mixed performance highlights the volatility and unpredictability of Launchpool tokens, raising questions about DOGS’ long-term prospects.
DOGS Airdrop Cleanup: Bans Bot Users
DOGS gained strong interest, with Binance’s Launchpool ending with over $7 billion in total value locked. TON Degen reports that 22 billion DOGS, or 4% of the total supply, will be airdropped to participants. The Dogs Community took steps to ensure fairness.
On Aug. 26, the community announced on X (formerly Twitter) that they identified and removed several accounts using bot farms to exploit the airdrop. Though these accounts were few, their airdrops are now frozen on exchanges. This action shows the community’s commitment to rewarding only legitimate participants—“real Dogs.”
