The Dogecoin blockchain has recently concluded its own version of the “Rune Stone” airdrop, drawing inspiration from a similar non-fungible token (NFT) giveaway conducted via Bitcoin Ordinal last month.
According to data compiled by airdrop organizer Robo AI as of April 2, a total of 30,272 unique "Doge Runestone" Doginals (the Dogecoin term for its Ordinals) have been distributed to wallets holding at least one Doginal.
The current trading floor price for Dog Runestones stands at 185 Dogecoins, equivalent to approximately $32, with a 24-hour trading volume surpassing $2,000, as reported by the Ordinals Wallet Market. This airdrop mirrors the success of March’s Bitcoin ordinal-based Runestone airdrop, which saw over 112,000 Runestones distributed to early adopters of the protocol.
Bitcoin ordinals represent NFT-like assets, such as images or documents, embedded within sats—the smallest unit of Bitcoin. Given that Dogecoin is a fork of Bitcoin, it has the capability to incorporate Ordinals. The Doginals protocol was introduced by an anonymous developer in February, following the launch of Bitcoin Ordinals.
Moreover, the protocol introduces the potential launch of the DRC-20 token standard in early May 2023, named after Ethereum’s ERC-20 standard and Bitcoin’s analogous BRC-20 standard. Currently, Doginal boasts 149 holdings and nearly 68,000 DRC-20 tokens, with a total market cap of $120 million, as per Doginal Explorer.
Additionally, the Dogecoin blockchain has seen peculiar inscriptions, including the 1993 classic shooter Doom, as a Doginal—a nod to the ongoing meme of running Doom on unconventional hardware like washing machines and toothbrushes. However, despite these developments, the Doge Runestone airdrop does not appear to have significantly impacted DOGE, which is trading at $0.1718—down 2% in the past day and 20% for the week.
