Memecoin is one of the most special features of the crypto market because it has its own culture and does not depend on technology. Recently, there was a very special memecoin, the DOGS coin, which attracted 1 million users in just 3 days. So what is special about DOGS coin? Let’s find out with Unich Analyst in this article.
What is a DOGS Coin?
DOGS is a memecoin developed on the Telegram platform, inspired by Spotty – a dog drawn by Telegram CEO Pavel Durov in a charity auction for orphans in Russia in 2011. Spotty’s image later became the mascot of the social network Vkontakte (VK) – a famous social network in Russia. DOGS coin was born to help the community become better thanks to the fundraising that DOGS collected.
History of formation
These applications were originally called “Clicker Games” or “Clicker Apps”. These applications are not exactly “clicking continuously” to earn money, but clicking to collect resources, then using those resources to upgrade, increase the collection efficiency, and finally earn bonus points that can be exchanged for cash.
However, the continuous clicking to collect resources in these applications is an important factor, and it is also an interesting point that attracts users.
The history of these applications can be divided into stages:
Early phase (2010-2015)
- At this time, “clicking” games mainly appeared on the PC platform.
- Cookie Clicker (2013) is a typical example, considered the “ancestor” of clicker games. The game is simple, players just need to continuously click on a cookie to collect points, then use the points to buy upgrades to increase the speed of earning cookies.
- These games are mainly for entertainment and rarely related to making money.
Transition phase (2015-2020)
- The development of mobile technology has brought clicker games to smartphones.
- These applications began to combine with the model of making money through watching ads, participating in surveys, or performing simple tasks to earn reward points.
- For example, “Coin Master” launched in 2015, combining clicker games with the model of making money. Players need to continuously tap to collect gold, use gold to attack, and plunder other players’ resources.
Boom phase (2020-present)
- Clicker Apps became more popular and diverse.
- These applications combined with other themes such as building, farming, business, and even NFT, blockchain elements.
- For example, Like Pi network, Notcoin, Catizen, etc.These applications also combine with more diverse earning models, for example:
- View ads: Watch video ads to earn reward points.
- Complete tasks: Perform simple tasks such as downloading apps, participating in surveys, and completing puzzles.
- Collect resources: Collect resources by tapping, use resources to upgrade, and sell resources to earn reward points.
- Integrate with social networks: Share achievements, connect with friends, and collect reward points from other players.
Project highlights
In less than 24 hours of its launch, DOGS coin has attracted the first 1 million users. This is the most impressive number that a memecoin has ever recorded. After 3 days, the number was recorded at 10 million users. As of August 14, about 1 month after the application was launched, the number has reached 51 million users. This is also Telegram’s birthday and the last day users can receive free DOGS tokens.
Telegram Account Age-Based Airdrop Mechanism
This is the most attractive point of DOGS, allowing users to receive tokens based on the time they created a Telegram account. This mechanism not only helps users receive money but also shows their “OG” (Original Gangster) for this messaging platform.
Airdrop Criteria
- The older your Telegram account is, the more DOGS tokens you will receive.
- The more active your account is, the more DOGS tokens you will receive.
- Telegram Premium accounts will receive an additional 300 DOGS tokens.
- Telegram users from the first days will receive OG status and receive more DOGS tokens.
DOGS token valuation
To value the DOGS token, I will rely on the following 2 references. First, the project allows users to receive DOGS based on buying stars through the “Stars for DOGS!” program. All proceeds from this program will be donated to charity. With a charity level of $165 to receive 10,000 DOGS tokens, the price of DOGS will be around $0.0165.
In addition, I will refer to the prices on the premarkets. First will be OKX with a trading volume of about $1.2 million, the premarket price of DOGS is currently trading at $0.009.
Next is Bitget with a volume of about $2 million, the premarket price is $0.005.
In my opinion, with the above trading volume, the DOGS price is likely to be traded in the range of $0.005-$0.009. If the price is lower than this level, I will buy DOGS to hold.
Pre-Market DOGS trading guide on Unich
- Access the Unich OTC Trading Platform
- Connect your wallet to the Unich Pre-Market OTC platform
- Choose the DOGS trading pair to buy or sell with DOGS on the Pre-Market market
- Deposit collateral and complete payment
Personal opinion
Pros
- The project is built on the telegram community, so it is very sustainable.
- The potential for future development is quite large because the DOGS operating model has practical significance. This is a difference from Notcoin
- TON is continuously listed on Binance and Launchpool, paving the way for the next projects in the TON ecosystem.
Cons
- There are too many holders at the beginning, so DOGS becoming a hidden gem is quite unlikely. Therefore, the potential for DOGS price growth is not too great.
- Information about the development team and tokenomics is not clear, so it is quite difficult to accurately value DOGS
In conclusion
DOGS is a memecoin with great potential but also contains many risks. The project takes advantage of the large Telegram community and unique airdrop mechanism and aims at charity. However, the lack of transparency and decentralization are still factors that need to be carefully considered. Investors should consider carefully before investing in DOGS. Above is Unich Analysis’s overview, thank you for reading.
