Bitcoin-based memecoin $DOG calms “Runes are dead” claims with 220% surge

DOG-GO-TO-THE-MOON (DOG) displayed remarkable performance over the past month to become the 9th largest meme token.

An over 216% 30-day surge saw the Bitcoin-based meme cementing its position in the crypto industry, with its press time market cap at $727.29 million.

DOG investors saw their investment profile increase by 80% and 25% over the past week and day, respectively.

DOG 1D Chart on Coinmarketcap

DOG-GO-TO-THE-MOON took the 9th spot in the meme tokens rank by value, trading at $0.00771 during this writing.

The altcoin has maintained an upside stance since its launch.

This performance represents a crucial milestone for the Bitcoin-centric meme token.

A solid user base contributed to DOG’s outstanding rise. The latest data shows around 70,300 unique BTC wallets hold DOG. The top address controls 3.25% of the meme coin’s supply.

DOG has emerged as the leading Rune-based coin on OKX’s digital collectibles over the last day.

Moreover, it tanked as the 2nd most traded Runes asset on Magic Eden, with a daily trade volume of $5.8 million (86.57 BTC).

DOG calms debates that Runes are zombies

The crypto sector displayed bearishness over the past day, with meme tokens market cap dropping by 4.6%.

Shiba Inu, Dogecoin, Dogwifhat, and FLOKI lost up to 10% on their daily charts.

However, BTC Runes coin DOG surged 25%, relaxing zombie claims.

Moreover, similar meme coin PUPS gained 16% in the previous 24 hours. Bitcoin-based digital coins are tokens released through the BTC Runes protocol.

The assets have faced a backlash from some community members. Some believe investors have no time to understand BRC-20 or Rune amid intense competition.

For instance, DOG’s activity could appear faded compared to the Ethereum-based PEPE.

While the Runes crypto had a daily trading volume of $97 million, PepeCoin had the same metric at $1.5 billion.

Some question whether DOG’s swift surge will attract top-tier exchange listing as “people don’t even know how to buy it yet.”

Meanwhile, PepeCoin emerged as the most profitable meme asset over the past month. PEPE’s 90% surge within the last 30 days placed over 96% of holders in profit.

IntoTheBlock’s data shows 227,990 PEPE investors celebrate returns, while the current $0.0000144 price puts 13,250 wallets at break-even.

DOG and PEPE’s growth underscores the increasing influence of meme assets in the financial space.

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