Bitcoin Meme Coin DOG Hits $336 Million Market Cap After Runes Airdrop - Decrypt

Summary

The article describes the airdrop of a Bitcoin meme coin, 'DOG•GO•TO•THE•MOON' (DOG), using the Runes protocol to Runestone Ordinals holders. It highlights DOG's immediate success, becoming the most widely held Runes token with over 74,000 holders. Despite its low individual value, the coin's significant trade volume on Magic Eden resulted in a market capitalization of approximately $336 million. The article explains that the odd naming convention of tokens aims to prevent name squatting and that the requirement will decrease over time. Summary: The 'Puppies' concept is loosely connected with the 'DOG•GO•TO•THE•MOON' Bitcoin meme coin mentioned in the article, which discusses its airdrop, holder statistics, and significant market cap within the realm of cryptocurrency, relating to 'Germanic culture' through the use of the 'Runes' protocol, and 'Alphabets' in its naming conventions.