A massive token unlock event on August 26th will release 502.48 billion DOGS tokens, representing 91.4% of the total supply, into circulation. This significant event poses a substantial risk to the token's value, which has recently experienced dynamic movements amidst market fluctuations.
The DOGS cryptocurrency, built on the TON Blockchain, aims to leverage Telegram's large user base and meme culture appeal to introduce blockchain technology to a broader audience. However, the upcoming token unlock threatens to undermine the token's recent gains.
Key Allocations:
- Community Airdrop: 400.02 billion DOGS (72.7% of total supply)
- Marketing: 50.49 billion DOGS (9.18%)
- Liquidity: 29.89 billion DOGS (5.45%)
- Team: 29.48 billion DOGS (5.36%)
- Binance Launchpool: 22 billion DOGS (4%)
- Advisory: 17.9 billion DOGS (3.27%)
Historically, token unlocks of this magnitude can lead to significant selling pressure, causing a notable decline in the asset's value. The DOGS token, currently trading at $0.0034, may face a steep drop, potentially retesting the $0.001 support level.
Possible Scenarios:
- Breakdown: Price plummets to $0.0008 as the market absorbs the influx of new tokens
- Recovery: Buyers maintain support at $0.001, leading to a potential rebound to $0.0052
The upcoming TGE will be a critical moment for DOGS, determining whether the token can sustain its recent gains or face a significant correction.
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