Propose an edit: Dog Go To The Moon

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Dog Go To The Moon, written on chain as DOG GO TO THE MOON and traded as DOG, is a [[meme coin]] issued on Bitcoin through the Runes protocol. It launched at the April 2024 Bitcoin halving and became the flagship token of the Runes ecosystem, giving Bitcoin its first major native dog coin.

## Origin

The Runes protocol, created by Ordinals inventor Casey Rodarmor, went live at the halving on April 20, 2024 and allowed fungible tokens on Bitcoin for the first time at scale. DOG was etched among the earliest runes with a supply of 100 billion and was distributed entirely for free: every holder of the Runestone Ordinal, a project associated with the Ordinals historian known as Leonidas, received an airdrop of 889,806 DOG on April 24, 2024. The free and broad distribution, with no presale and no team allocation, became central to the token's identity.

## Market history

Decrypt reported the token hit a market capitalization of about 336 million dollars within days of the airdrop, and CryptoBriefing recorded it passing 500 million dollars in its first 24 hours of trading. By June 2024 CoinDesk described DOG rocketing toward a 1 billion dollar capitalization after a 200 percent monthly surge. The all time high of about 0.0099 dollars came in early December 2024, putting the capitalization at roughly 999 million dollars. The token was listed on major exchanges and remained the largest rune by value, though by August 2026 its capitalization had retraced to around 63 million dollars.

## Cultural impact

DOG's community, the self styled DOG army, marketed the token as the number one meme coin on Bitcoin and pushed the narrative that the oldest blockchain deserved its own [[Dogecoin]]. Its airdrop model was held up in [[the trenches]] as the fair distribution counterpoint to the [[pump.fun]] launch meta on [[Solana]], and its trajectory effectively defined the Runes asset class: it proved the protocol could host a billion dollar asset, and its later decline tracked the broader fade of Runes speculation.

## References

- https://decrypt.co/227953/bitcoin-meme-coin-dog-336-million-market-cap-runes-airdrop
- https://www.coindesk.com/markets/2024/06/04/bitcoin-based-meme-coin-dog-rockets-toward-1b-market-cap
- https://cryptobriefing.com/dog-token-market-cap-500m/
- https://www.coingecko.com/en/coins/dog-go-to-the-moon-runes-2
- https://www.benzinga.com/markets/cryptocurrency/24/06/39151241/dog-go-to-the-moon-a-bitcoin-based-memecoin-outperformed-the-broader-market-with-25-gain-f

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