DOGS pre-market price hints at $550 million FDV on launch: Bitget

Bitget had raised over $4 million in pre-marketing for the Telegram-based TON memecoin prior to the listing of DOGS on August 23.

Pre-market trading is becoming increasingly popular in the crypto space. Platforms are listing variants of tokens that have not yet been released, allowing speculative investors to trade ahead of the main listing. DOGS has seen similar interest, with several platforms including Bitget, KuCoin, and Gate launching pre-market products for the coin.

On Bitget, volumes in Tether (USDT) alone have surpassed nearly $4 million, a Bitget representative told crypto.news via email on Aug. 19. Many believe the token could instantly reach a fully diluted valuation of $550 million at launch. On Bitget’s pre-market facility and elsewhere, DOGS traded for less than a cent, around $0.001.

Meanwhile, BinanceDog On Sol (DOGS) defied a broad market decline by rising over 60% amid increased airdrop activity. The coin should not be confused with the TON-based DOGS.

BinanceDog pumps Sol coin higher amid TON-based DOGS frenzy | Source: CoinMarketCap Over 6M verified DOGS users claim 30% of $440B airdrop

According to the DOGS community on Telegram, over six million verified mini-app users have requested to receive the airdrop via supported exchanges. Telegram’s built-in wallet app is primarily focused on The Open Network (TON).

Claimants have until 6pm UTC on August 21 to queue up for airdrop deposits on exchanges and Telegram Wallet. DOGS has set a deadline for non-custodial wallet claims at 8am UTC on August 23, with the token scheduled to be listed at noon UTC on the same day.

DOGS is a mini-app token inspired by Spotty, a mascot created by Telegram founder Pavel Durov. The project was launched last month and has amassed over 53 million users, 42.2 million of whom are eligible for the airdrop.

Approximately 82% of the 550 billion DOGS token supply has been allocated to users, with 10% reserved for the team and future updates. A 12-month lockup period means the project will not be able to liquidate tokens until August 2025. Additionally, 8.5% has been set aside for liquidity purposes.

DOGS is one of many TON-powered Telegram minigames making waves in the web3 space. Projects like Notcoin (NOT) have given away billions of dollars to early adopters, and other teams like Hamster Kombat have promised to deliver the “largest airdrop in crypto history.”