DOGS Token Generation Event Becomes the Largest Meme TGE in Cryptocurrency History

A record-setting number of users claimed Dogs (DOGS) on the layer-1 blockchain The Open Network (TON) during the new memecoin's recent airdrop

(CryptoSlate) – A record-breaking number of users claimed Dogs (DOGS) on the layer-1 blockchain The Open Network (TON) during the new memecoin’s recent airdrop, the project’s developers said.

In a new post on messaging app Telegram, TON developers said that Dogs has become the “largest meme TGE (Token Generation Event) in cryptocurrency history.”

The TON blockchain was originally created by Telegram in 2018, but has since been taken over by an international group of independent developers.

“17 million users claimed DOGS tokens. In the last two weeks, our daily active user addresses hit 1.1 million several times, with single-day transactions peaking at 14.4 million. The DOGS token distribution played a key role in this surge. DOGS token is now held by 4.5 million unique wallets on TON, putting it in a unique position – it has the most unique token holders on any chain ever, and it achieved this in just two weeks. Only USDT on TRON and Ethereum have more holders than DOGS.

DOGS, a meme project on TON inspired by Telegram founder Pavel Durov’s iconic dog drawing, has led to the largest meme TGE in cryptocurrency history.

TON developers are also predicting larger TGEs for upcoming airdrops on the TON blockchain, including Catizen (CATI) and Hamster Kombat (HMSTR).

“These levels of user engagement were unimaginable in Web3 before. In September, we anticipate even larger TGEs for Catizen and Hamster Kombat, which could bring tens or even hundreds of millions of users to the blockchain for the first time. The network will undoubtedly face more technical pressures and possibly some unforeseen issues, but we are unwavering in our commitment to building and addressing these challenges as we move toward mass adoption.”

Dogs is trading for $0.001047 at time of writing, up 2.6% in the last 24 hours. The memecoin has a market cap of $541,450,195.