DOGE Debut on THORChain

DOGE was created to mock cryptocurrencies, but it has now become the king of meme coins! Doge is endorsed by celebrities like Elon Musk and entrepreneurs like AMC Theatres CEO Adam Aron. After receiving endorsements from celebrities and going viral on social media, the meme coin moved into the top ten coins of the crypto market and surprised several skeptics. As a result of popular demand, THORChain has launched support for swapping DOGE tokens for any supported crypto token on THORSwap. Let’s see how DOGE performed when it debuted! 

DOGE was launched on 17th January 2022 on THORCHain and enabled all THORSwap users to exchange DOGE directly into other blockchain currencies like ETH, BTC, and BUSD. The following chart shows DOGE’s performance over the first 24 hours. The peak trading volume of 75K USD was observed during the first hour of trading, with a total trading volume of 234K USD for the 24 hour window.

How does this compare to debut of other tokens launched on THORChain? Here is a chart showing how much trading volume was generated during the first 24 hours of all popular crypto tokens during their debut. With a trading volume of 1.29 million in the first 24 hours, BUSD had the best debut of all currencies. The second highest volume is ETH, which has 993K, next is BNB, which has 669K, and so on. DOGE sits at 5th place with its 224K USD trading volume. What an achievement! You ask why? Well, take a look at who is in 6th position. It is none other than the king of cryptocurrencies, Bitcoin. OMG… DOGE performed better than BTC during its debut!

The meme coin never stops amazing in setting up records. On its THORChain debut, DOGE performed better than BTC in first 24 hours trading volume.

Leave a Comment

Your email address will not be published. Required fields are marked *