The launch of the DOGS token airdrop caused significant disruptions across Telegram Wallet and several crypto exchanges, as millions of users engaged in swaps and on-chain activities. Inspired by Telegram founder Pavel Durov's mascot, the DOGS token is part of a mini-game on The Open Network (TON). The surge in user activity led to temporary service outages on platforms like Bybit and Binance, though normal operations were quickly restored. However, Telegram Wallet continued to implement fixes at the time of reporting. The early trading of DOGS on MEXC, before other exchanges, introduced price volatility, frustrating many users.

Despite the disruptions, DOGS achieved a fully diluted valuation (FDV) of $707 million, surpassing Bitget's $550 million prediction. The token traded around $0.0012, similar to its pre-market price before the airdrop. The DOGS token is the latest in a series of Telegram mini-app projects, with users anticipating future airdrops from other viral apps like Hamster Kombat. Meanwhile, the crypto community was shaken by the arrest of Telegram's Pavel Durov in France, leading to widespread criticism of French authorities.