On August 26th, a major unlock of 91.4% of DOGS tokens could trigger a significant price correction. The DOGS token is approaching a critical juncture at the $0.001 support level, as over 500 billion tokens are set to flood the market. The future of DOGS largely depends on whether it can hold onto this key support level after the substantial Token Generation Event (TGE).
DOGS, a community-focused cryptocurrency on the TON Blockchain, is preparing for a pivotal moment. The upcoming TGE will release 502.48 billion DOGS tokens, accounting for 91.4% of the total supply, into circulation. This event introduces a potential challenge to the token's market value, which has been subject to significant fluctuations.
Initially launched by Telegram's founder as a meme coin, DOGS seeks to capitalize on Telegram's extensive user base and the growing popularity of meme culture to broaden blockchain adoption.
The project has garnered attention with its recent listings on Gate.io and its inclusion in Binanceâs 57th launch pool. However, the impending release of over 500 billion tokens will be a crucial test of the token's market strength.
The distribution strategy includes a major community airdrop, with 400.02 billion DOGS (72.7% of the total supply) allocated to foster community ownership, which could enhance user engagement. Other allocations include 50.49 billion DOGS (9.18%) for marketing, 29.89 billion DOGS (5.45%) for liquidity, 29.48 billion DOGS (5.36%) for the team, 22 billion DOGS (4%) for the Binance Launchpool, and 17.9 billion DOGS (3.27%) for advisory purposes.
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