• Dog-themed meme coins are surging in value
• These coins are inspired by Dogecoin and feature canine mascots
• The volatile coins rely on online attention and continue capturing investor interest across blockchain networks
Dog-themed meme coins are seeing a surge in value, with tokens inspired by Dogecoin and other canine mascots gaining momentum. These coins, known for their volatility and reliance on online attention, continue to capture investor interest across various blockchain networks.
DOG•GO•TO•THE•MOON Hits All-Time High
DOG•GO•TO•THE•MOON (DOG), a Bitcoin-based meme coin, reached an all-time high price of $0.0096 on Sunday, with its market cap soaring to $966 million. Launched in April alongside the Runes protocol, DOG has quickly become one of the most popular tokens within the ecosystem, boasting over 95,000 holders.
Developed by Casey Rodarmor, the creator of Ordinals, Runes aims to integrate meme coins and NFTs into Bitcoin’s ecosystem. DOG’s rise was further bolstered by its listing on platforms like OKX and Magic Eden. According to co-creator Leonidas, achieving new milestones without a tier-1 exchange listing highlights the organic growth of the token.
Ethereum and BNB Chain Meme Coins Gain Traction
While DOG captured attention on the Bitcoin network, other meme coins have experienced notable gains on Ethereum and the BNB Chain. Baby Doge Coin (BABYDOGE), launched in 2021 as a homage to Dogecoin, saw its price jump 33% on Monday, approaching its previous peak of $0.000000006288.
On Ethereum, the meme coin Neiro (NEIRO), inspired by a 10-year-old rescue dog adopted by Dogecoin mascot Kabosu’s owner, reached a market cap of $1.1 billion last month. Its value rose another 10% on Monday to $0.002, reflecting sustained community interest.
Meme Coin Buzz Fuels Trading Activity
The trading volumes of DOG, Neiro, and Baby Doge Coin have surged, particularly on the Cayman Islands-based exchange Gate.io. Over the past day, the tokens recorded $61 million, $56 million, and $187 million in trading volume, respectively, according to CoinGecko.
Runes tokens, which accounted for 81% of Bitcoin network activity shortly after their launch in April, now represent 8% of Bitcoin transactions. Despite waning hype, their presence on the Bitcoin network remains notable.
Congressman’s Meme Coin Investment Sparks Interest
Ski Mask Dog (SKI), a meme coin featuring a dog in a ski mask, doubled in price after U.S. Congressman Mike Collins of Georgia revealed he had purchased up to $30,000 worth of the token. The announcement, flagged by Unusual Whales on X, added to the intrigue, with Collins responding humorously using a Pepe the Frog meme.
Legacy of Dogecoin’s Mascot Lives On
The passing of Kabosu, Dogecoin’s iconic Shiba Inu mascot, in May was a significant moment for the crypto community. However, the adoption of Neiro, a rescue dog, by Kabosu’s owner brought fresh inspiration. Meme coins based on Neiro quickly emerged on Ethereum and Solana, further solidifying the cultural influence of dog-themed tokens.
MicroStrategy’s Continued Bitcoin Investments
While meme coins dominate headlines, institutional players like MicroStrategy continue to focus on Bitcoin. The company recently purchased $2.1 billion worth of Bitcoin, bringing its total holdings to 423,650 BTC. This marks MicroStrategy’s fifth consecutive week of Bitcoin acquisitions, underscoring its commitment to the leading cryptocurrency.
Conclusion
Dog-themed meme coins and Bitcoin-based tokens are thriving amidst a wave of market enthusiasm. From DOG’s record highs to Baby Doge Coin and Neiro’s continued growth, these assets reflect the enduring popularity of meme culture in crypto. As trading volumes and on-chain activity remain robust, the intersection of humor, community, and finance continues to drive innovation in the space.
