$DOGS Rallies After Durov’s Release
The leading meme coin on The Open Network (TON), known as $DOGS, saw a remarkable rally of 21% in the early hours today. This surge followed the announcement that Pavel Durov, Telegram’s CEO and the creator of Toncoin, was released on a €5 million bail by French authorities. Durov’s arrest stemmed from allegations related to his oversight of criminal activities on the Telegram messaging platform, which is known for its privacy features.
Serious Allegations Against Durov
Authorities are charging Durov with complicity in various serious crimes, including the spread of child pornography, trafficking, money laundering, and organized crime. They accuse him of ignoring lawful requests from European countries, such as France and Belgium, to take action against crimes involving minors, drug trafficking, and online hate. Following his arrest over the weekend, Durov was held in detention for the maximum duration of 96 hours permitted by French law.
The Link Between $DOGS and The Open Network
The Open Network (TON) originated as a project by Telegram but became an independent entity in 2020 after the U.S. SEC ruled that Telegram’s sale of Toncoin, previously called Gram, violated federal securities laws. Despite this separation, TON and Telegram have retained a close relationship. The $DOGS meme coin, which has quickly gained popularity with a market cap of $737 million, was inspired by Durov’s dog, Scotty, and launched just two days ago.
Market Performance of $DOGS
Just yesterday, $DOGS saw a significant price surge of over 30%, increasing from approximately $0.00125 to around $0.00165. However, it has since pulled back to $0.001423, representing a decline of about 8.5% over the past 24 hours. In contrast, Bitcoin ($BTC) experienced a modest gain of 1.7% overnight, bringing its current value to $60,585.
Meme Coins Expanding Beyond Ethereum
As a TON meme coin, $DOGS is part of a growing trend where meme coins are flourishing outside their original Ethereum platform. Similar to DogWifHat and Bonk on Solana, $DOGS exemplifies this trend. Investors looking for more opportunities in the multichain meme coin space might consider the new cross-chain project, Base Dawgz ($DAWGZ), which is still in pre-sale.
Exploring Base Dawgz ($DAWGZ)
Base Dawgz, a new entry in the meme coin market, launched on June 4 and quickly attracted over $200,000 from enthusiastic investors eager to participate in a multi-chain meme coin featuring staking and share-to-earn potentials. Base Dawgz, primarily based on Coinbase’s Ethereum Layer 2, Base, is also compatible with several other blockchains, including Ethereum, Solana, BNB Chain, Avalanche, and Polygon.
Incentives for Community Participation
What sets Base Dawgz apart is its innovative share-to-earn marketing strategy, which rewards community members for sharing $DAWGZ-related content across social media platforms. This approach fosters a more engaged and loyal community compared to $DOGS. The presale website also highlights appetizing staking rewards of 736% for those who invest.
Urgency for Early Investors
Potential investors can buy into Base Dawgz at a fixed pre-launch price of $0.008582, but time is of the essence, as only six days remain before the price increases. Multiple payment options are available, allowing purchases with popular stablecoins like USDT and USDC, making the buying process both simple and secure. For those looking to gain first-mover advantage in meme coins with significant growth potential, now is the time to act.
Stay Connected with Base Dawgz
Interested investors can engage with the Base Dawgz community on platforms such as X and Telegram. To get involved, you can buy $DAWGZ directly through the designated purchasing platforms.