The TON network went offline for the second time in 36 hours after heavy demand for the newly launched meme coin, DOGS. The network remained offline for almost 7 hours.
According to the official announcement of the TON community on Telegram, the network went offline on Aug.28 at 7 p.m. UTC and recovered to function on Aug. 29 at 1:00 a.m. UTC.
The first outage occurred around 11:00 pm UTC on Aug. 27 and the network came online around 5:30 am UTC on Aug. 28, dawn for almost six hours. The Outage happened due to a newly launched memecoin on the TON network, which caused a buzz among the TON community.
Developed by Vladimir Vegner, dumping BEANS in TON, DOGS was officially announced in July 2024 and launched on August 27, 2024 DOGS is a new memecoin from the TON blockchain and is touted as the ‘most Telegram friendly memecoin .’
Thus, the memecoin was named Spotty – a mascot similar to the pet dog of Telegram founder and CEO Pavel Durov who was arrested in France on August 24.
Due to this, the launch of DOGS has led to a lot of traffic in the TON blockchain network with the token already raising over $1. 10,000 BTC and subsequently reached about 7 billion USD in trading volume during the first 10 hours of its existence.
The official Dogs channel on Telegram has attracted about 17 million subscribers in less than two months since the token was introduced.
TON, the third-party blockchain protocol that is connected to the Telegram Messaging App, has assured the users that it will be fully functional even with the arrest of Durov.
Toncoin (TON) is up 8% since the network’s operations restarted and is now trading at $5.59 Currently, a single SHIB is priced at 0.000057 as per the data taken from CoinMarketCap. Still, after recovering from the network outages, Toncoin has been on the rise, but over the past week, it is down 13.86% as the arrest of Durov reduced the price.
