A massive 2.75 billion DOGS tokens, valued at approximately $3.3 million, have been distributed to 150,000 Notcoin users. The size of the drop was determined by the user’s level and activity, rewarding those who were more engaged with larger amounts.
For many users, this distribution covered their Level costs, in addition to offering access to explore pools and other exclusive benefits.
The impact on the market was immediate, with the $DOGS price surging nearly 7% in just 24 hours. The market capitalization now stands at $697.6 million, with a 24-hour trading volume of $560.85 million, a slight drop of around 24%.
Since the trading of DOGS tokens started on different centralized exchanges, its trading volume has rallied significantly. With the surge in DOGS on-chain activity, Ton blockhain faced multiple network outages, however, the team clarified that there are no impacts on users’ funds.