The Dogecoin blockchain community has recently completed its own version of an airdrop called “Runestone,” inspired by the previous nonfungible token (NFT) giveaway conducted by Bitcoin Ordinals. The distribution of the Doge Runestones, which are Dogecoin’s version of Ordinals, took place until April 2. A total of 30,272 Doge Runestones were given to wallets that held at least one Doginal from a specified list of collections provided by Robo AI, the organizer of the airdrop.
Currently, the Doge Runestones are being traded at a minimum price of 185 Dogecoins (DOGE), equivalent to around $32. In the past 24 hours, the trading volume for these tokens has exceeded $2,000, according to data from the Ordinals Wallet marketplace.
The appearance of the Doge Runestones is uniform, resembling a golden rock engraved with the DOGE logo. This airdrop was modeled after the popular Runestone airdrop conducted by Bitcoin Ordinals in March, where the community distributed over 112,000 Runestones to early adopters of the protocol. Bitcoin Ordinals are NFT-like assets, such as images or documents, embedded into sats, which are the smallest units of Bitcoin.
Dogecoin is a derivative of Bitcoin, being a “fork of a fork,” which allows it to have its own version of Ordinals called Doginals. The Doginals protocol was launched by an anonymous developer in February of the previous year, one month after Bitcoin Ordinals. Additionally, the protocol also laid the foundation for the introduction of the DRC-20 token standard in early May 2023. This standard was named after Ethereum’s ERC-20 standard and Bitcoin’s similar BRC-20 standard.
According to data from Doginal Explorer, there are currently 149 Doginal collections and almost 68,000 DRC-20 tokens in circulation, with a combined market capitalization of $120 million. Furthermore, the Dogecoin blockchain has even included the iconic 1993 shooter game, Doom, as a Doginal. This is a continuation of the meme where enthusiasts have successfully run Doom on unconventional hardware like washing machines and toothbrushes.
Despite the Doge Runestone airdrop, the value of DOGE has not experienced a significant positive impact. As of now, DOGE is trading at $0.1718, reflecting a 2% decrease in the past day and a 20% decrease over the week, according to Cointelegraph Markets Pro.
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