As an experienced crypto investor with a soft spot for projects that give back to society, I find the joint token burn event by $DOGS and $NOT on October 9, 2024, quite intriguing. The fact that about $4 million worth of tokens will be permanently removed from circulation is a positive sign of commitment and responsibility from these projects.
On October 9, 2024, at 1 PM UTC, the cryptocurrencies Doge ($DOGS) and Not ($NOT) plan to carry out a major collaborative token destruction event.
The upcoming event can be watched live on the verified $DOGS account, previously known as X (Twitter). Importantly, approximately 4 million dollars’ worth of tokens will be irrevocably removed from circulation during this broadcast.
Following a community poll regarding the disposition of unused airdrop tokens, it was determined that those tokens would be incinerated. Consequently, approximately 4.8 billion $DOGS tokens will be destroyed in the process, with $NOT joining by contributing its own tokens to the fire.
In a bid to contribute positively, DOGS plans to redistribute approximately 6 billion unused tokens, worth roughly $4.5 million, to charities specializing in animal welfare and child support causes.
Beginning from June 16th, the count of individuals holding $NOT has risen by approximately 27%, indicating a growing number of investors are taking an interest in the project. In comparison, $DOGS boasts over 17 million token holders on-chain and enjoys a substantial social media presence with around 20 million followers.
For the very first time, these two projects are coming together, which signifies a significant milestone for each community involved.
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2024-10-08 22:28