Dog (formerly known as “DOG•GO•TO•THE•MOON) is a memecoin introduced on Layer 2 of the Bitcoin blockchain through the Runes Protocol and launched on April 24th, 2024.^[1][9]

Overview

On April 24th, 2024, during the Bitcoin Halving event, the memecoin $DOG was launched using Runes Protocol, which is the Bitcoin Layer 2 network.

Developed by the Runestone team, a contributor to Runes Protocol and Ordinal Inscriptions technology, the $DOG token shortly after its launch on April 29, 2024, reached a market capitalization of $368 million. $DOG had an airdrop held on April 24, 2024.

The entire supply of $DOG, 100 billion tokens**** was strategically airdropped to the holders of Runestone, leveraging a community already primed for digital asset engagement. Within 24 hours of its launch, $DOG achieved a market capitalisation of half a billion dollars. ^[1][5][8]

Dog Rebrand

In December 2024, the Dog team announced the rebrand of “DOG•GO•TO•THE•MOON".

This community-driven effort represents a strategic step to align with the needs of its growing community while making the project more accessible to newcomers in the space. The change reflects $DOG’s dedication to simplifying its identity without losing the unique spirit that has driven its success thus far. ^[11]

The team highlights that the rebrand and renaming emphasizes its foundation as a Bitcoin-native meme coin, leveraging the power of the Bitcoin blockchain while maintaining a fun, community-driven ethos.

“Dog (Bitcoin)” positions $DOG as a key player in the Bitcoin ecosystem, proudly embracing its roots while appealing to a broader audience. Including “Bitcoin” in the name highlights the project’s connection to the world’s leading cryptocurrency, creating instant recognition and credibility for crypto natives and newcomers alike. ^[11]

Runestone

Runestone is a project within the Bitcoin blockchain ecosystem, led by Leonidas, a figure in the NFT and crypto community. Using the Ordinals Protocol, Runestone inscribes digital artifacts directly onto Bitcoin’s blockchain. The project started with a “parent inscription,” symbolically sent to a wallet believed to belong to Satoshi Nakamoto. A historic auction of the first Runestone funded an airdrop to over 112,000 early adopters.

One significant milestone for Runestone was the airdrop, which distributed tokens to 112,383 wallets, marking one of the largest distributions within the Bitcoin network.

The narrative of Runestone expanded with the introduction of $DOG, the first memecoin on the Bitcoin blockchain via the Runes Protocol. This initiative rewarded Runestone holders with $DOG, integrating the $DOG community with existing Runestone enthusiasts. This exemplifies a model of community rewards within the cryptocurrency space.

$DOG itself was born from an airdrop program specifically for the Bitcoin Ordinals community, making it an integral part of the Runestone project. ^{[1][2][5][6][7]}

Leonidas

Leonidas is a key figure in the crypto space, known for his foundational role in developing Ord.io and the Runestone project on the Bitcoin blockchain. His leadership in launching $DOG, a community-driven meme coin, showcases his commitment to leveraging blockchain for broader adoption and community empowerment. ^[10]

Through Ord.io, Leonidas enhances interaction with Bitcoin Ordinals, fostering a secure environment for digital asset exploration. His efforts emphasize transparency, fairness, and decentralization, aiming to inspire and cultivate a fair community-oriented blockchain ecosystem. ^[1][10]

Tokenomics

$DOG operates with a total supply of 100 billion tokens, the project had no pre-sales, allocation of tokens to team members or insiders, involvement of paid opinion leaders (KOLs), or paid promotions and with all tokens distributed at 100% of the circulating supply, $DOG refrains from paying centralized exchanges (CEXs) for listings and the project is interested in organic growth and through community support. ^[1][3][4]

Currently, it is possible to trade $DOG on different exchanges, including:

• Gate.io
• OKX
• Bitrue
• BitMart
• Bitget
• BingX