DOG Rune, Bitcoin Based Meme Coin Soars 200%

Bittime - The crypto world is abuzz with the presence of unique meme coins. DOG•GO•TO•THE•MOON (DOG), as it is called, managed to steal attention after shooting up 200% in the last 30 days. This surge brought DOG's market capitalization to close to IDR 1 trillion (US$ 1 billion).

DOG Appears During Bitcoin Halving

DOG was launched on April 20, coinciding with the Bitcoin halving event. The coin, nicknamed "Rune Number 3", was born on Bitcoin's Runes protocol, making it the largest meme coin on the Bitcoin network and the seventh largest meme coin in the entire crypto market.

For comparison, Dogecoin (DOGE), the king of meme coins, currently has a market capitalization of IDR 368 trillion (US$23 billion).

The presence of DOG also enlivens the meme coin trend that is currently popular with the public. So far this year, names like SHIB, PEPE, and FLOKI have skyrocketed, adding billions of dollars to their market capitalization.

Advantages of Bitcoin Runes

Uniquely, DOG sits on top of the Bitcoin Runes protocol. This is different from most other meme coins circulating on super-fast blockchains like Solana and Base. DOG's success fueled optimism that Runes had the potential to become a legitimate Bitcoin layer-2 network, despite Bitcoin's notoriously slow blockchain.

Simply put, Runes offers cheaper and faster transactions than Ordinals Protocol, Runes' predecessor which stored data on the Bitcoin blockchain through small transactions.

DOG Trading Volume Increases

Market players seem to be starting to look at DOG's potential. This can be seen from DOG's trading volume which almost touched IDR 1.6 trillion (US$100 million) in the last 24 hours.

They are curious whether this Bitcoin-based meme coin can match the success of Dogecoin and its friends.

Conclusion

However, keep in mind that meme coins are highly volatile assets. The price is often influenced by social media buzz, rather than the underlying utility. DOG itself fell more than 60% in the three weeks after launch, before DOG prices finally rose again to where they are today.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Study Complete Guide How to Buy Crypto on Bittime.

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.