TON-Based Shiba Inu (SHIB) Rival Listed on Major US Exchange

Crypto.com, one of the leading U.S.-backed exchanges, has announced the listing of the DOGS (DOGS) token. 

Its users will be able to purchase it with the U.S. dollar (USDT), the euro and a slew of other fiat currencies. 

The meme coin upstart, which is powered by The Open Network (TON), is based on Spotty, a canine mascot created by Telegram founder Pavel Durov. 

Notably, the cryptocurrency has its own bot on Telegram that allows users to collect tokens by participating in various activities (such as inviting friends or subscribing to social media channels). Loyal users and premium subscribers can expect to receive more tokens. 

Last week, Binance introduced the DOGS token on its Launchpod platform, pushing the token closer to the mainstream.

Earlier today, the exchange announced that the TON network upgrade was taking longer than expected due to "unforeseen issues," which is why deposit and withdrawal services are currently suspended.

Telegram Wallet has warned that several exchanges are experiencing performance issues due to the release of DOGS. Hence, its exchange function has been temporarily disabled. "Our exchange feature is temporarily unavailable, but don’t worry — we're working hard to resolve this and get everything back to normal soon," the announcement said.

TON ecosystem takes hit

Last week, the price of TON, the native token of the eponymous network, took a double-digit hit following Durov's arrest. 

Despite this, it remains the 11th biggest cryptocurrency, with a market capitalization of roughly $14.1 billion.   

According to a recent report by Fortune, the popular social media app is rife with "everything illegal."