The Runes-based meme token DOG•GO•TO•THE•MOON, initiated by Leonidas, the founder of Ord.io, has reached a new pinnacle in its journey. It has ascended to become the 8th-largest meme coin by market capitalization. The token, which combines the fun of a meme coin with the trust of Bitcoin and the efficiency of the Runes protocol, has seen its market value soar to an impressive $932 million at the time of writing. The Runes protocol leverages Bitcoin’s native features and its Unspent Transaction Outputs ( UTXO) model to create, mint, and transfer tokens directly on the blockchain. Being Runes-based is supposed to mean that the DOG token operates in harmony with Bitcoin’s core principles, helping to maintain the network’s integrity while minimizing the creation of unnecessary “dust” UTXOs.
Bitcoin-Based DOG Token Climbs to 8th Largest Meme Coin, Nears $1B Capitalization
This article was published more than a year ago. Some information may no longer be current.
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