DOGS token has achieved a new milestone in the TON blockchain after the largest meme-based Token Generation Event. This event, reported by the Telegram TON community, led to 17 million users claiming their tokens. The daily transaction was recorded to have reached 14.4 million.
DOGS Way to the Top
The rising users and transactions made on the platform point to the increasing popularity and efficiency of blockchain technology. Since the distribution of DOGS tokens, the activity of the TON blockchain has grown tremendously.
The DOGS token is now one of the most widely held tokens among all the blockchains. When reporting, it trading at $ 0.00105 per Coinmarketcap, marking a 3.35% increase in price in the past day. This has been mainly due to the high user interaction where 17 million tokens were claimed within the first two weeks of its Token Generation Event (TGE).
The TON community has released data on their telegram community showing daily active user addresses reaching 1.1 million multiple times. This has made DOGs the second most held token in the TRON and Ethereum network only behind USDT. It is currently held in 4.5 million unique wallets.
The distribution of DOGS tokens has proved to be a game changer, given the user interactions and market conditions within the blockchain domain.
Anticipation and Preparation for Future TGEs
Furthermore, DOGS token has set the bar high for TGEs on the TON blockchain. In the next few months, more people are likely to gravitate towards projects like Catizen and Hamster Kombat. They can attract tens or even hundreds of millions of new users to the blockchain.
It is possible that the two next projects Catizen and Hamster could go viral and see explosive popularity. Catizen has 10 days for its initial listing, scheduled for September 20th at 10:00 (UTC). Such expansions are to put pressure on TON’s infrastructure, which is preparing for the increased load in the network.
These future TGEs will therefore seek to expand the user base of the blockchain. Which will further strengthen the position and adoption of the blockchain technology. In a bid to bridge the gap between traditional internet usage and decentralized applications, users with no prior experience with blockchain technology are likely to take to gaming applications and meme tokens on the TON platform.
Mini Apps
The DOGS token has also shown that the use of Telegram Mini Apps as a strategic tool for the promotion of blockchain technology is viable. The Mini Apps, according to Justin Hyun, the Director of Investments at TON Foundation, can help bring the technology to the masses through easy use. Such applications are embedded in platforms such as Telegram and help to simplify the first contacts with blockchain for users. Hyun pointed out that these apps introduce users from simple transactions to other incentives including cryptocurrencies and app usage rewards.
This strategy seeks to increase the users’ involvement by offering them a chance to earn from their interaction hence increasing their interest in blockchain technology. TON Foundation is also aiming to reach 500 million users by 2028.
