DOG Meme Coin Surges Amid Binance Speculation

DOG•GO•TO•THE•MOON (DOG) leads a meme coin rally, fueled by Kraken listing and Binance futures speculation.

Bitcoin-based meme coin DOG•GO•TO•THE•MOON (DOG) has skyrocketed 88% this week to $0.007, reaching its highest level since June. The surge follows a Kraken futures listing on November 15 and rumors of a potential Binance listing, driving excitement among traders and meme coin enthusiasts.

According to Bitcoin Ordinals explorer Ord.io, DOG, along with Pups•World•Peace (PUPS) and Billionaire•Dollar•Cat (BDC), is under review for futures listings. Although Binance has not confirmed this, circulating screenshots have stoked trader speculation, propelling DOG’s price upward.

Meme Coin Frenzy

DOG’s rally comes during a broader resurgence in dog-themed meme coins, with tokens like Dogecoin and Solana-based projects trading at multi-month highs. PUPS is up 31% on the week, while BDC is down 1%.

The Republican party’s White House win and the incoming Trump administration have added fuel to the fire. Anticipation of pro-crypto policies has energized the digital asset market, with traders flocking to speculative assets like DOG.

What is DOG?

DOG is a meme-inspired token built on Bitcoin’s blockchain using the Runes protocol. Launched in May 2024, the token was airdropped to holders of the Runestone Ordinals project. It has since become the most widely held Runes token and holds the top spot on UniSat’s Runes trending leaderboard, with a market cap of $791 million.

DOG’s creator, the pseudonymous Leonidas, describes it as a perfect blend of two dominant market narratives: meme coins and Bitcoin. “DOG lives at the intersection of the two major narratives this cycle, which are meme coins and Bitcoin,” he told.

The Rise of Bitcoin-Based Tokens

The introduction of the Ordinals protocol by Casey Rodarmor in 2023 paved the way for Bitcoin meme coins like DOG. This innovation allowed the creation of fungible tokens such as Runes and BRC-20 tokens, sparking a wave of speculative activity.

BRC-20 tokens have overtaken Runes, now accounting for 55% of Bitcoin’s fungible token transactions. DOG, however, remains a standout among Runes-based assets, exemplifying the protocol’s potential.

Leonidas highlighted a potential trend where DOG could mirror the success of dog-themed coins on Solana and Ethereum, which account for 3% of their respective chain’s native asset value.