DOG•GO•TO•THE•MOON (DOG) is a memecoin introduced on Layer 2 of the Bitcoin blockchain through the Runes Protocol and launched on April 24th, 2024.^[1][9]

Overview

On April 24th, 2024, during the Bitcoin Halving event, the memecoin DOG•GO•TO•THE•MOON ($DOG) was launched using Runes Protocol, which is the Bitcoin Layer 2 network.

Developed by the Runestone team, a contributor to Runes Protocol and Ordinal Inscriptions technology, the $DOG token shortly after its launch on April 29, 2024, reached a market capitalization of $368 million. $DOG had an airdrop held on April 24, 2024. During this event, 100 billion $DOG tokens were distributed among over 75,000 holders of Runestone Ordinal NFTs. ^[1][5][8]

Runestone

Runestone is a project within the Bitcoin blockchain ecosystem, led by Leonidas, a figure in the NFT and crypto community. Using the Ordinals Protocol, Runestone inscribes digital artifacts directly onto Bitcoin’s blockchain. The project started with a “parent inscription,” symbolically sent to a wallet believed to belong to Satoshi Nakamoto. A historic auction of the first Runestone funded an airdrop to over 112,000 early adopters.

One significant milestone for Runestone was the airdrop, which distributed tokens to 112,383 wallets, marking one of the largest distributions within the Bitcoin network.

The narrative of Runestone expanded with the introduction of $DOG, the first memecoin on the Bitcoin blockchain via the Runes Protocol. This initiative rewarded Runestone holders with $DOG, integrating the $DOG community with existing Runestone enthusiasts. This exemplifies a model of community rewards within the cryptocurrency space.

$DOG itself was born from an airdrop program specifically for the Bitcoin Ordinals community, making it an integral part of the Runestone project. ^{[1][2][5][6][7]}

Tokenomics

$DOG operates with a total supply of 100 billion tokens, the project had no pre-sales, allocation of tokens to team members or insiders, involvement of paid opinion leaders (KOLs), or paid promotions and with all tokens distributed at 100% of the circulating supply, $DOG refrains from paying centralized exchanges (CEXs) for listings and the project is interested in organic growth and through community support. ^[1][3][4]

Currently, it is possible to trade $DOG on different exchanges, including:

• Gate.io
• OKX
• Bitrue
• BitMart
• Bitget
• BingX