$DOGS Coin on TON Explodes 21% as Pavel Durov Is Released on €5 Million Bail

The largest meme coin on The Open Network (TON), $DOGS, surged 21% early today after news broke yesterday that Telegram CEO and Toncoin creator Pavel Durov was released by French authorities on €5 million bail.

Durov is accused of turning his back on the wide variety of criminal content and activity on the messaging app Telegram, which, thanks to its privacy features, has become a hub for all kinds of online activity.

However, authorities say Durov is complicit in the distribution of child pornography, human trafficking, money laundering and other organized crimes. They highlight his failure to comply with legitimate requests from European authorities in several neighboring countries, including France and Belgium, for action against crimes against minors, drug trafficking or online hate.

Following his arrest on Saturday, Durov was held for up to 96 hours, the maximum time an offender is allowed to spend in custody under French law.

The connection between $DOGS, Durov and The Open Network.

The Open Network (TON) was originally a Telegram project, but it split in 2020 after the US SEC declared that Telegram’s sale of Toncoin (then Gram) violated federal securities laws.

Yet The Open Network and Telegram are still closely linked.

Durov’s dog Scotty was the inspiration for the meme coin $DOGS, with a market cap of $737 million. It was launched 2 days ago and is already the largest meme on TON.

Yesterday at 12:00 ET, prices were up over 30%, from around $0.00125 to $0.00165. Now $DOGS is trading at $0.001423, a drop of just over 8.5% in the past 24 hours. In contrast, market leader Bitcoin ($BTC) was up 1.7% overnight and currently stands at $60,585.

Source: TradingView

From TON’s $DOGS to Basic $DAWGZ, Meme Coins Get Multichain

As a TON meme coin, $DOGS is one of many examples, like DogWifHat and Bonk on Solana, of how meme coins are starting to flourish outside of their native platform, Ethereum.

Investors looking for a bigger chance at profit can allocate a small portion of their funds to the new cross-chain meme coin Base Dawgz ($DAWGZ)still only available for pre-sale.

Like Dogecoin, Base Dawgz is another Doge meme coin. This time, the primary kennel is based on Coinbase’s Ethereum Layer 2, Base, but the coin is also compatible with Ethereum, Solana, BNB Chain, Avalanche, and Polygon.

$DAWGz launched on June 4th and raised over $200,000 in minutes as investors flocked to buy up a multi-chain meme coin with staking and share-to-earn capabilities. It has raised $3.2 million to date.

But what is share-to-earn? Simply put, the token’s ingenious marketing strategy places community members at the heart of Base Dawgz’s marketing strategy, thanks to a share-to-earn system that pays out point rewards for sharing $DAWGZ-centric content on social media.

This creates a more loyal meme coin community than $DOGS.

According to the pre-sale website, Base Dawgz also offers great wagering rewards of 736%.

Buy now and profit from this potentially stratospheric new meme coin for a fixed pre-launch price of $0.008582.

With multiple purchasing options including popular stablecoins like USDT and USDC, buying is simple and secure.

However, there are still six days to purchase the token before the next fixed pre-sale price is reached.

That means investors will need to act quickly if they want a first-mover advantage on a meme coin that has the potential to drive $DOGS out of the market.

Check out the Base Dawgz community on X and Telegram.

Buy $DAWGZ here

The post $DOGS Coin on TON Explodes 21% as Pavel Durov Is Released on €5 Million Bail appeared first on Cryptonews.