The biggest meme coin on The Open Network (TON), $DOGS, experienced a 21% rally in the early hours after news broke that Telegram CEO and Toncoin creator Pavel Durov was released on €5 million bail by French authorities. Durov’s arrest was related to allegations of his involvement in criminal content and activities on the Telegram messenger app, including the spread of child pornography, trafficking, money laundering, and other organized crimes. Despite the charges, Durov has been released after being detained for up to 96 hours, the maximum allowed under French law.
The Open Network (TON) was originally a Telegram project that spun out in 2020 due to legal issues with the US SEC. However, The Open Network and Telegram still maintain a close affiliation. The $DOGS meme coin was inspired by Durov’s pet dog Scotty and quickly became the biggest meme on TON. The prices of $DOGS spiked more than 30% midday yesterday but have since pulled back slightly. In contrast, Bitcoin added 1.7% overnight and currently trades at $60,585. While $DOGS is a TON meme coin, meme coins like DogWifHat and Bonk on Solana are also thriving outside of their original platform, Ethereum.
Investors looking for potential upside in meme coins may consider exploring Base Dawgz ($DAWGZ), a multi-chain meme coin still in pre-sale. $DAWGZ launched on June 4 and has raised over $3.2 million to date. The token employs a share-to-earn system where community members earn rewards for sharing $DAWGZ-centric content on social media. Incentivizing community engagement helps create a loyal meme coin following. Additionally, Base Dawgz offers staking rewards of 736%, according to the presale website. Investors can purchase $DAWGZ at a fixed pre-launch price of $0.008582 using popular stablecoins like USDT and USDC.
With only six days left to purchase $DAWGZ at the current fixed pre-launch price, investors are encouraged to act quickly to potentially benefit from the token’s upward price potential. By buying in now, investors may gain a first-mover advantage on a meme coin that could rival $DOGS in the market. Those interested in Base Dawgz can join the community on platforms like X and Telegram. As with all crypto investments, it is essential to remember that this is a high-risk asset class, and the article provided for informational purposes does not constitute investment advice. Investors should be aware that they could lose all of their capital.
