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Someone paid over $500,000 for ‘DOGE’ username on Telegram

Someone paid over $500,000 for 'DOGE' username on Telegram

Among the 10 most expensive Telegram usernames sold on Fragment, one stands out for a particular reason – it is the only one related to the cryptocurrency sector, and it is one of Tesla (NASDAQ: TSLA) CEO Elon Musk’s favorite coins – the meme token Dogecoin (DOGE).

Indeed, the username @doge was sold on November 9 for 350,000 Toncoin (TON), which roughly equals to $546,000, making it the eighth most expensive Telegram username ever sold on the auction platform Fragment since its foundation, according to the data retrieved on November 17.

Top 10 most expensive Telegram usernames sold. Source: Fragment

This price is higher than the one reached by the likes of @alfa, @cash, @amazon, @adidas, @gold, @armani, @dior, or @elon. Topping the list as the most expensive Telegram username is @auto, which reached the price of 900,000 TON or around $1.43 million.

Buying usernames with TON

Short for ‘The Open Network,’ TON is a layer-1 blockchain designed by Telegram and is used for transaction fees, staking, settling payments, and as a governance token. TON is also used to buy and sell Telegram usernames on Fragment, established in late October 2022.

Interestingly, Toncoin is one of the rare cryptocurrencies that is presently recording increases on its daily, weekly, and monthly charts amid the market-wide crisis caused by the FTX collapse.

Specifically, it is currently trading at $1.70, up 1.25% on the day and 19.49% across the week, adding up to the monthly gain of 35.84%. At press time, Telegram’s official token had a market capitalization of $2.08 billion, making it the 26th-largest decentralized finance (DeFi) asset.

DOGE price analysis

Meanwhile, Dogecoin is recording a choppy week, changing hands at the price of $0.08542, down 2.67% on the day but up 3.76% compared to the previous seven days, as well as recording an increase of 43.66% on its monthly chart.

Dogecoin 7-day price chart. Source: Finbold

Its current market cap stands at $11.33 billion, dislodging Cardano (ADA) from its position as the eighth-largest digital asset by this indicator, according to CoinMarketCap data retrieved by Finbold on November 17.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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