DOGS memecoin will be distributed to 42 million users, making it the largest airdrop ever.
Binance and other major exchanges will list DOGS, with trading pairs like DOGS/USDT and DOGS/BNB.
DOGS is expected to have an initial valuation of around $1 billion, with potential for considerable growth.
Telegram’s DOGS memecoin will launch tomorrow, with the largest airdrop ever conducted. DOGS will be given to 42 million users and listed on top cryptocurrency exchanges like Binance, OKX, Bybit, and Bitget. The launch, inspired by Telegram founder Pavel Durov’s "Spotty" meme, follows weeks of buildup and excitement.
DOGS Trading on Major Exchanges
The token will be available on 15 major crypto marketplaces. Binance will hold a launchpool celebration where users can share in 22 B coins, which is 4% of the total supply. Beginning at 12:00 UTC, pairs like DOGS/USDT, DOGS/BNB, DOGS/FDUSD, and DOGS/TRY are exchanged. To make sure everything was ready, the distribution time was pushed back from August 23 to August 26.
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In the lead-up to the opening, pre-market exchanges like KuCoin, Bitget, Gate, and Aevo have already seen a lot of trading activity. These platforms report an early market price of around $0.002, showing strong interest from traders eager for the memecoin’s debut.
Expected Valuation and Market Impact
As DOGS gets ready to launch, traders are speculating on its potential value. Current estimates suggest a "Fully Diluted Valuation" (FDV) of around $1B, which would set the initial price at about $0.0018 per token. If the FDV reaches $2.92 billion, the price might rise to $0.0053. On the other hand, if the FDV is lower at $500 million, the price could drop to around $0.001.
These estimates are similar to the Notcoin project, which launched in May and reached a peak valuation of $2.92 billion. Traders are watching DOGS closely, expecting it to perform similarly.
The Growing Trend of Airdrops
DOGS is part of a larger trend of significant airdrops planned for 2024. One of these is the upcoming launch of the web3 platform Grass, which is expected by the end of September. Grass and other tokens within the Telegram ecosystem are generating a lot of interest.
Telegram’s ecosystem includes tap-to-earn apps like Hamster Kombat, Dejen Dog, Tapswap, and Catizen. These apps are preparing to launch their tokens, offering free airdrops. While the usefulness of these tokens is still up for debate, the promise of free tokens continues to attract many participants.
With the DOGS launch, the crypto community is watching closely to see how this event will impact the market. Will DOGS set a new standard for airdrops?
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