- Bitcoin-based meme coin DOG surged 88% this week, driven by Kraken’s futures listing and speculation about a Binance futures listing.
- DOG, launched via the Runes protocol, leads Bitcoin’s meme coin pack with a $791M market cap, reflecting a broader shift in token dominance.
Bitcoin-based memecoin DOG•GO•TO•THE•MOON (DOG) has seen a meteoric rise, reaching levels not seen since June. The surge follows speculation about a potential futures listing on Binance, fueled by reports from Bitcoin Ordinals explorer Ord.io and screenshots circulating on social media that suggest DOG, Pups•World•Peace (PUPS), and Billionaire•Dollar•Cat (BDC) are under review.
However, Binance has not confirmed these rumors yet.
This speculation comes on the heels of DOG’s recent listing on Kraken futures on November 15, which triggered a significant rally over the weekend. The token has since soared 88% for the week, hitting $0.007. PUPS has climbed 31%, while BDC has slipped 1% during the same period.
Dog-themed memecoins, led by the likes of Dogecoin (DOGE), are experiencing an exceptional bull run. DOGE itself recently hit $0.29, marking its highest point in three years. A series of market tailwinds, including President-elect Donald Trump’s anticipated crypto-friendly policies, have further spurred trader enthusiasm across the memecoin space.
DOG, launched in May 2024, is a Bitcoin blockchain-based token built using the Runes protocol. Initially airdropped to holders of the Runestone Ordinals project, DOG quickly became the most widely held Runes token. Its market capitalization currently stands at $791 million, with the token maintaining its lead on the Runes trending leaderboard, according to UniSat data.
The rise of DOG also reflects a broader shift in Bitcoin’s fungible token market. BRC-20 tokens now account for 55% of transactions, overtaking Runes, which dominated at 94.7% just a month earlier.
DOG’s pseudonymous creator, Leonidas, described the token’s success as living at the intersection of two major narratives this cycle: memecoins and Bitcoin. Leonidas noted that Solana and Ethereum also have dog-themed coins valued at approximately 3% of their native currencies, leading many to anticipate a similar trend between DOG and Bitcoin.
