Will DOGS Price Crash as a Whopping 94% Tokens Unlock Tomorrow?
DOGS price is poised to test the $0.001 support as the ecosystem faces a significant Token Generation Event on August 26th, releasing 502.48 billion tokens.
DOGS Token release 502.48 billion tokens (91.4% of the supply) on August 26th, with 72.7% allocated for a community airdrop
DOGS price gained momentum after listing on Gate.io and inclusion in Binanceâs 57th launch pool.
The $0.001 level stands as major support for DOGS buyers to defend amid token unlock.
DOGS, the community-driven cryptocurrency built on the TON Blockchain, is aimed at leveraging Telegramâs large user base and meme culture. The token has recently garnered investorsâ attention for dynamic moves amid market uncertainty in August. With the upcoming token unlock of Billion of DOGS, the asset is at risk of a notable correction.
DOGS Price to Rest Major Support Amid 502.48 Billion Token Release
DOGS, a new mascot meme coin originally created by Telegramâs founder, focuses on introducing blockchain technology to a broader audience through fun and engaging experiences, such as tokenized stickers.
The token has recently gained traction among similar projects amid the listing on the Gate.io crypto exchange and being launched in Binanceâs 57th launch pool.
On Aug 26th, DOGS investors are set to experience a significant Token Generation Event (TGE), during which 502.48 billion DOGS tokens, representing 91.4% of the total supply, will be released.
The majority of tokens are allocated to the community airdrop, i.e., 400.02 billion DOGS (72.7%), which aligns with the projectâs emphasis on community ownership, potentially increasing user participation and token circulation within the ecosystem.
By the press time, the DOGS token trades at $0.0021. If the upcoming token unlocks accelerate the selling pressure, the price could witness a 50% drop to retest the bottom support. With further breakdown, the asset holders could seek support at the $0.0008 level.
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