DOGS Conducts Largest Meme TGE in Crypto History

DOGS conducted the largest meme-TGE in crypto history, according to a statement from TON Community on Telegram.

According to the provided statistics:

• 53 million users accessed the DOGS application;
• 42.2 million were eligible for the airdrop;
• 17 million users claimed DOGS;
• the token has 4.5 million unique holders.

In the past two weeks, the number of daily active users on TON exceeded 1.1 million several times, and daily transactions reached 14.4 million, according to the TON Community team. The distribution of DOGS played a key role in this surge in activity.

“Such a level of user engagement was unthinkable for Web3. In September, we expect more extensive TGEs for Catizen and Hamster Kombat, which could attract tens or even hundreds of millions of users to the blockchain,” the TON Community statement reads.

The team highlights the high likelihood of technical difficulties arising in the network. Back in the launch of DOGS, the TON blockchain stopped twice.

Other TON Metrics

Following the arrest of Telegram founder Pavel Durov, activity within the TON network grew exponentially. The 7-day moving average of daily transactions on the blockchain reached nearly 12 million as of September 9.

The figure increased by 160%.

The 7-day moving average of daily active addresses also reached a record high of 701,800.

TON Price

In contrast to network activity, the coin’s price reacted negatively to the arrest. The crypto asset fell by 30% following the incident but then partially recovered.

Bitget Research analyst Ryan Lee sees potential for further price growth in September, especially if the potential rate cut by the Fed contributes to a positive market environment.

“Toncoin’s performance in September might slightly outperform the broader market, largely depending on macroeconomic factors. If market sentiment improves, Toncoin could retest levels of $6.5–7. However, if the overall situation remains unchanged, the price is likely to fluctuate between $5 and $6,” he noted.

In September, the blockchain The Open Network (TON) surpassed 1 billion transactions, half of which were sent in the last three months.