AUS
NZ
UK
CA
USA
IND
The Open Network (TON) has resumed full functionality after experiencing two significant outages within a 36-hour period, attributed to a surge in network activity triggered by the launch of a new memecoin, {Dogs} (DOGS).
The TON network faced its first disruption on August 27 at 11 PM UTC, resulting in a six-hour downtime before it resumed operations at 5:30 AM UTC on August 28. A second outage occurred on August 28 at 7:17 PM UTC, lasting just over six hours. The official TON Community confirmed the restoration of normal operations around 1 AM UTC on August 29, announcing that withdrawals and deposits to TON wallets would be processed in the coming hours and days.
Both outages have been linked to the introduction of DOGS, a new memecoin launched on the TON blockchain on August 27. Market observers and TON Community members noted that the high volume of transactions related to DOGS contributed to the network congestion. The DOGS memecoin, which is marketed as the “most Telegram-native memecoin,” has generated significant interest, with trading volume exceeding $1.7 billion within the first 10 hours of its launch.The official DOGS Telegram channel has rapidly grown to nearly 17 million subscribers since the token's introduction.
The TON network is integrated with the Telegram messaging platform, and despite the recent operational disruptions, it is expected to remain functional. The network’s recovery comes amidst broader market reactions to Telegram founder Pavel Durov's arrest in France on August 24, which has impacted the price of Toncoin.
Following the network's return to service, Toncoin experienced an 8% price increase, trading at $5.57, according to CoinGecko data. However, despite this rebound, the token has faced a 17% decline over the past week, reflecting broader market volatility and the recent legal issues surrounding Durov.
