After going down twice in less than a day due to demand for a new memecoin called DOGS, the Open Network (TON) is back up and running.
After 36 hours, the Open Network (TON) returned to service following a second significant outage.
After being down at 7:17 pm on August 28, the official TON Community declared in the official TON Telegram group that the network had returned to normal functioning at approximately 1:00 am UTC on August 29.
The TON Community chat said, “TON network is fully operational!” and stated that deposits and withdrawals to TON wallets would be credited over the next few hours and days.
The most recent outage, which lasted for just over six hours, was again attributed by TON to an increase in network traffic brought on by the introduction of Dogs (DOGS), a new memecoin built on TON.
Around 11:00 pm UTC on August 27, TON went down for the first time and could not produce blocks for six hours. It returned online at 5:30 am UTC on August 28.
Market analysts and TON Community members attributed the first downtime to the DOGS memecoin, later verified by official TON channels during a second network outage.
Almost the past 36 hours, there have been nearly 12 hours of outage on the TON network.
DOGS is a new memecoin that runs on the TON blockchain and was formally introduced in July 2024. It was launched on August 27 and is promoted as the “most Telegram-native memecoin.”
The memecoin got its inspiration from Spotty, a mascot modeled by Pavel Durov’s dog, the pet owner of Telegram, who was detained in France on August 24.
Since DOGS went up, it has generated over $1.7 billion in trade activity in the first ten hours, contributing significantly to the congestion on TON.
Since the coin was first proposed, the official Dogs channel on Telegram has gained around 17 million subscribers in less than two months.
The messaging app Telegram has included the third-party blockchain system TON in its service and declared that Durov’s imprisonment will not affect it.
According to CoinGecko data, Toncoin TON$ 5.57 is trading for $5.57, up 8% since the network was returned online.
Toncoin’s price fell 17% in the last week after Durov’s arrest, despite the token’s price rising on the announcement that network functionality had been restored.
