Donald Trump's recent win in the presidential election has lit a fire under meme coin enthusiasts, with several of these tokens outshining large-cap assets in the latest market rally. The Bitcoin-based meme token $DOG (Rune) has surged to levels not seen since June, driven by mounting hype over a listing on the Tier-1 exchange, Kraken.

This surge ignited a weekend rally and fueled speculation that $DOG might be gunning for a spot on Binance next.

The Trump Effect on the Meme Mania

It’s hard to deny the role of the Republican victory in the White House in spurring trader excitement for digital assets. The market is buzzing with hopes for crypto-friendly policies from the new administration, which traders are betting could give a much-needed boost to the sector.

Dog-themed meme coins like Dogecoin, along with tokens on the Solana and Ethereum blockchains, are enjoying a moment in the sun, with many reaching multi-month highs. Riding this wave of enthusiasm, $DOG skyrocketed 88% in a week, hitting $0.008.

A Visionary Start and the Rise of $DOG

Bitcoin meme coins have transformed in the past year, thanks to Casey Rodarmor’s introduction of the Ordinals protocol, which paved the way for Runes. Rodarmor initially described this as an opportunity for people to "create shitcoins" and whatever else their hearts desired. It was within this very space that $DOG was born, later emerging as a standout performer.

Launched in May 2024, $DOG was distributed to holders of the Runestone Ordinals project and quickly became the most widely-held token within the Runes ecosystem. Today, $DOG boasts a market cap of $735 million, topping the Runes leaderboards.

Leonidas, The Godfather of the project, said: 

$DOG lives at the intersection of two major narratives of this cycle — meme coins and Bitcoin. Solana and Ethereum have their dog coins worth about 3% of their native token's value, so many are betting that a similar phenomenon will happen between $DOG and Bitcoin.

The journey of $DOG began with Leonidas' strategic foresight. To drive widespread adoption of Runestones, he auctioned off the first-ever Runestone, raising critical funds to cover significant network fees associated with airdropping Runestones to over 112,000 early followers of the Ordinals protocol. This successful airdrop paved the way for the launch of $DOG. 

$DOG is the first meme coin launched on the Bitcoin blockchain using the Runes Protocol. As a nod to early supporters, it was airdropped to all Runestone holders, and today, those early tokens are worth a whopping $7,000 per airdrop recipient.

In Search of a Fair Listing

On November 2, Coinbase CEO Brian Armstrong posted on X that his exchange was open to free listings, inviting projects to simply “reach out.” However, mysteriously, $DOG’s listing application seems to have been overlooked.

In response, Leonidas wasn’t shy about airing his frustrations. In an open letter posted on X, he called out Coinbase for ignoring $DOG’s listing request, despite their efforts to engage with the exchange.

The letter implored Coinbase and Armstrong to rethink their listing policies, urging them to consider “decentralized and fairly distributed meme coin communities.”

He added:

Mr. Armstrong’s public call to ‘just write us,’ even after our previous fruitless attempts, has only emboldened the $DOG army to renew our plea for listing.

The letter also touched on “broader issues in the crypto space regarding transparency and fair listing practices for non-utilitarian tokens (meme coins).”

So far, $DOG is still waiting on a response. Neither Armstrong nor the exchange reps have thrown this dog a bone.

Elon Musk Game X Empire Breaks the Internet | HODL FM
X Empire: Tap-to-earn game where players rack up in-game cash…
hodl-post-imageHODL FM: The Wildest Ride in the Crypto MarketHODL Team
hodl-post-image

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.