Fenomena Dog Go To The Moon (DOG), Harga DOG Meroket 73% dalam Sehari

The phenomenon of a new meme coin from the Bitcoin Runes network, Dog Go To The Moon (DOG), has recently experienced an astonishing price surge in a short period of time. In the past 24 hours, DOG's value soared by 73% and surpassed a market capitalization of $540 million (Rp 8.64 trillion), according to the coin's creator who identified himself as Leonidas.

DOG Trading Volume Rises  

Citing data from the UniSat market, DOG also exceeded the trading volume by $3.5 million (IDR 56 billion). Any investor who held Bitcoin (BTC) Ordinal "Runestone" on April 21 was eligible to receive 889,806 DOG per person on April 24.

DOG is a token issued using the Bitcoin Runes protocol, which is used to create fungible assets on the Bitcoin blockchain. This token was introduced immediately after the Bitcoin halving. The Runes protocol was developed by Casey Rodarmor, the creator behind the hotly discussed Ordinals protocol.

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Runes Transactions Increase

More than 3.5 million Runes-related transactions have been made since April 20, representing 63.6% of all transactions on the Bitcoin blockchain over the past six days, according to the Dune Analytics dashboard created by user Cryptokoryo.

"This high number of Runes transactions indicates the tremendous enthusiasm of the crypto community towards this new project," CoinDesk analysts said.

Furthermore, investor Runes also reportedly paid 2,113 BTC (Rp. 1.8 trillion at the current price of Bitcoin) in fees to get involved in the project.

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Runestone Token Value Plummets

Amid DOG's impressive success, the price of Runestone plummeted after the announcement of a snapshot for the token airdrop on April 21. The Runestone is down from 0.07 BTC (Rp. 6 million) to 0.027 BTC (Rp. 2.3 million) today, a decrease of 61.5% in less than a week.

However, analysts expect the price of the Runestone to still have the potential to rise again. Leonidas himself has mentioned that two other meme coins will be dropped for Runestone holders as long as the current uptrend is still ongoing.

Quoting from Crypto Slate, the DOG and Runes phenomenon reflects the enthusiasm of the crypto community for new innovations, although it has a fairly high speculative element as with most meme coins.

"Projects like this attract attention because they have a unique concept and open up potential investment opportunities. However, the risk is no less great given the extreme price volatility," said Crypto Slate.

Conclusion

Thus, investors and traders of DOG, Runestone, and crypto assets in general are urged to remain vigilant and conduct in-depth analysis before making investment decisions. Prudence remains key amid volatile crypto market conditions.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.