Bitcoin-based meme coin DOG•GO•TO•THE•MOON (DOG) has surged to highs not seen since June as speculation swirls around a potential futures listing on Binance.
DOG, Pups•World•Peace (PUPS) and Billionaire•Dollar•Cat (BDC) are all under review, according to a update from Bitcoin explorer Ordinals Ord.io, with users on screenshots of the token nomination.
Binance did not return immediately Decrypt request confirmation on this point.
It follows a Kraken Futures Quotation for DOG on November 15, kicking off a major run over the weekend and fueling speculation about new listings on major exchanges.
This sent traders into a frenzy, with the token soaring 88% over the week to $0.007. PUPS and BDC, meanwhile, are up 31% and down 1%, respectively, over the same period.
It comes like dog themed coinsincluding Dogecoin and those based on the Solana and Ethereum blockchains, are spending their time in the sun, with many exchanges above multi-month highs.
The Republican Party’s victory in the White House has helped spur traders’ speculation in digital assets in recent weeks, with many anticipating favorable policy under the new administration of President-elect Donald Trump.
What is the DOG?
DOG is a meme-inspired cryptographic token etched atop the Bitcoin blockchain using the Runes protocol. Launched in May 2024, DOG was airdropped to holders of the Runestone Ordinals project, quickly becoming the most widely held Runes token.
BRC-20 tokens have overtaken Runes in Bitcoin’s fungible token market, now accounting for 55% of all transactions, compared to 45% for Runes, showing an inverse 30-day trend.
For context, Runes had 94.7% dominance over BRC-20 tokens, as reported on October 17, according to a Dune Dashboard.
DOG, which has a market capitalization of $791 million, also holds the first place in the Runes trend ranking, according to UniSat data.
Bitcoin meme coins have changed significantly over the past year with Casey Rodarmor’s introduction of the Ordinals protocolwho opened the way to the Runes.
Rodarmor previously describe it’s a way for people to “create shitcoins” and whatever else comes to mind. It is in this space that DOG was conceptualized and subsequently became a standout artist.
“DOG lives at the intersection of the two major narratives of this cycle, namely meme coins and Bitcoin,” said the token’s pseudonymous creator Leonidas. Decrypt.
“Solana and Ethereum both have dog coins that are equivalent to 3% of the value of the chain’s native currency, so many people expect a similar phenomenon to happen between DOG and Bitcoin,” a he declared.
Edited by Sébastien Sinclair
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