Last updated:
Author
Tim Hakki
Author
Tim Hakki
Share
Generic footer crypto disclaimer
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The biggest meme coin on The Open Network (TON), $DOGS, rallied 21% in the early hours today, after news yesterday that Telegram CEO and Toncoin creator Pavel Durov was released on €5 million bail by French authorities.
Durov is charged for turning his back on the wide variety of criminal content and activity on the Telegram messenger app, which is a hub for a wide range of online activity thanks to its privacy features.
However, authorities say Durov is complicit in the spread of child pornography, trafficking, money laundering, and other organized crimes. They highlight his failure to comply with lawful requests by European authorities in several neighbouring countries, including France and Belgium, for actions on crimes against minors, drug trafficking or online hate.
After his arrest on Saturday, Durov was detained for up to 96 hours, the maximum time an offender can be held in custody under French law.
The Connection Between $DOGS, Durov and The Open Network.
The Open Network (TON) was originally a Telegram project but it spun out in 2020 after the US SEC declared that Telegram’s sale of Toncoin (then called Gram) constituted a breach of federal securities laws.
Still, The Open Network and Telegram have maintained a close affiliation.
Durov’s pet dog Scotty inspired the $737 million market cap meme coin $DOGS, which launched 2 days ago and is already the biggest meme on TON.
At midday yesterday, prices spiked more than 30%, from around $0.00125 to $0.00165. Now $DOGS is trading at $0.001423, a pullback of a little over 8.5% in the last 24 hours. In contrast, market leader Bitcoin ($BTC) added 1.7% overnight and currently stands at $60,585.
From TON’s $DOGS To Base $DAWGZ, Meme Coins Get Multichain
As a TON meme coin, $DOGS is one of several examples, much like DogWifHat and Bonk on Solana, of how meme coins are starting to thrive outside of their original platform, Ethereum.
Investors wanting to explore some headier upside could allocate a small portion of funds to the new cross-chain meme coin Base Dawgz ($DAWGZ), still only in pre-sale.
Like Dogecoin, Base Dawgz is another Doge meme coin, this time its primary kennel is on Coinbase’s Ethereum Layer 2, Base, but it’s also compatible with Ethereum, Solana, BNB Chain, Avalanche and Polygon.
$DAWGz launched on June 4, taking in over $200,000 within minutes as investors piled in to snap up a multi-chain meme coin with staking and share-to-earn capabilities. To date, it has raised $3.2 million.
But what is share-to-earn? Simply put, the token’s ingenious marketing strategy puts community members at the core of Base Dawgz’s marketing strategy, thanks to a share-to-earn system that pays out point rewards for sharing $DAWGZ-centric content on social media.
This incentivizes a more loyal meme coin community than $DOGS.
Base Dawgz also offers mouth-watering staking rewards of 736%, according to the presale website.
Buy in now to catch this potential stratospheric new meme coin at a fixed pre-launch price of $0.008582.
With multiple purchase options, including popular stablecoins like USDT and USDC, buying in is simple and secure.
However, six days remain to purchase the token before it rises to the next fixed presale price.
That means investors better hurry if they want first-mover advantage on a meme coin that has the upward price potential to remove $DOGS from the picture.
Check out the Base Dawgz community on X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
