The crypto world is buzzing about the upcoming $DOGS and $NOT token burn, scheduled for October 9, 2024, at 1pm UTC. Get ready—$4 million worth of tokens will be burned! 😱 But here’s the truth: this massive burn is decided by the community and it’s all live-streamed on X (formerly Twitter). Transparency at its finest, right?
💬 Community in control
I have to give credit to the development team. Instead of keeping those unclaimed tokens for themselves, they turned to us—the community. We voted to burn them, and it felt like a pivotal moment for these projects. But wait… are we really sure that burning billions was the right move? Sure, reducing supply might increase the price, but there are no guarantees. Is it worth the gamble?
📉 Token Burning: Do They Really Work?
The article I read had some great insights. While some tokens like Terra Luna saw prices skyrocket after burns, not all projects followed that trend. Let's be honest—$DOGS and $NOT are still in their early stages. Are we setting ourselves up for disappointment if the market doesn't react as we hope? 🤔
🤯 The Ethics of Burning vs. Charity
This is the real twist in the plot. The article raises ethical concerns about burning unclaimed tokens instead of donating them to charity. Where did the tokens come from? If they were dropped from the air in a suspicious manner, would donating them cause a scandal? The last thing anyone wants is for a charity to be tied to something shady.
