DOGS and NOT Ready to Burn $4 Million Worth of Tokens, Price Predicted to Rise

Bittime - Telegram-based crypto projects $DOGS and $NOT have officially announced their highly anticipated token burn event. 

This community-driven event is scheduled to take place on October 9, 2024, at 13:00 UTC, and will be broadcast live via the official $DOGS account on X (formerly Twitter). 

This strategic move will permanently remove a large number of tokens from circulation, with a total value of approximately $4 million.

Community Based Decisions

These two projects burned tokens after a community vote was held to determine the fate of unclaimed airdrop tokens. The $DOGS project, in particular, will burn around 4.8 billion tokens, while $NOT will also contribute, bringing the total value of tokens removed from the market to around $4 million. 

This burning action is expected to increase token scarcity and potentially strengthen long-term value for token holders.

In addition to the token burn, $DOGS will donate approximately 6 billion unclaimed tokens, worth approximately $4.5 million, to charitable causes. These donations will go towards initiatives chosen by the community, such as animal welfare and child support, underscoring $DOGS' commitment to social responsibility.

Why $DOGS and $NOT Burn Tokens?

This decision to burn a large number of tokens reflects $DOGS' dedication to decentralization and sustainability in tokenomics. 

Through a governance model, $DOGS gives the community the opportunity to choose what to do with unclaimed tokens from the initial airdrop. The result of this vote is clear: some of the tokens will be burned, while the rest will be donated to charity.

This deflationary action, which reduces the total supply of tokens, is designed to support the value of existing tokens by creating scarcity. With a promise not to issue new tokens in the future, this burn event is an important step in maintaining the long-term health of the project ecosystem.

Bakar Collaboration with $NOT

This burn event was also a historic moment for $NOT, which collaborated with $DOGS for the first time. 

This collaboration shows a growing trend in the crypto world, where meme tokens and community-based projects come together to achieve common goals, including sustainability of token value and decentralized governance.

Charitable Donation Strengthens Social Responsibility

In addition to the token burn, the decision to donate 6 billion unclaimed $DOGS tokens to charity shows a continued focus on giving back. 

The $DOGS community has previously donated more than $300,000 to charitable organizations such as Save the Children and Animal Charity Evaluators. This donation initiative further strengthens the project's commitment to core values ​​such as freedom, self-expression and social responsibility.

How the Token Burn Process Works

On October 9, unclaimed tokens from $DOGS and $NOT will be moved to a “burn” address, a move that will remove those tokens from circulation permanently. 

This deflationary strategy is at the heart of creating scarcity in the ecosystem of both tokens, which is expected to drive long-term value for active holders while eliminating inflationary pressures.

For $DOGS, the burn event was an important moment that demonstrated the project's commitment to the community as well as its dedication to a sustainable and decentralized future. The reduced supply is expected to strengthen the project's position in the market as it continues to grow.

Pivotal Moment for $DOGS and $NOT

The upcoming token burn event, driven by community input, is expected to bring significant changes to the $DOGS and $NOT ecosystems. 

By reducing the token supply, the long-term benefits of this deflationary action are expected to be felt by holders and active community members. The charitable donations also reflect both projects' dedication to making a positive impact outside the crypto world.

With the burn event fast approaching, both $DOGS and $NOT are bracing for a moment that will reverberate throughout their communities. 

The burn and donate plan highlights a growing trend in community-based crypto projects, namely prioritizing sustainable tokenomics and charitable giving while reducing supply to create long-term value.

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