The nano-cap memecoin is celebrating a successful week by organizing a 30 trillion token burn event.
Dog Lovers Rejoice
The crypto sphere’s love affair with micro and nano-cap meme tokens shows no sign of abating. This token provides the typical high risk high reward volatility seen in nano-caps.
The Republic of Dogs ROD token surged 900% in the seven days from August 15th to an all-time high of $0.000000005561. The token has since retraced 30%+ to $0.000000003475 – the current 7 day gains for ROD sit at 711.6%.
Following a successful week the dogcoin has announced a burn party to reduce the total supply of 1 quadrillion ROD. Despite a large token number, the team is burning ~$100,000 in USD value, displaying the small size of the market.
“Who likes to party? We will be hosting another Burn Party in which we will burn 30 Trillion, [sic] plus we will add some sauce upon that we will use our Saviour onto his full capacity he will buy the tokens and send them to the burn address, in conclusion A LOT of Tokens will be burned,” Republic of Dogs said on Twitter on August 20th.
The ‘savior’ is a feature of Republic of Dogs in which a percentage of all sell transactions (7%) is stored in a smart contract in the form of BNB. This BNB is then periodically used to buy back ROD tokens and to burn them.
The token has quickly fallen off the trending list on CoinMarketCap after a few days of trending status. Only time will tell the success of the project but the micro-cap token has had a solid start – alot of the time what goes up must come down.
More Good News
Republic of Dogs has recently had a number of positive news events to share with its community with a listing on the FEG exchange among them. FEG is short for ‘feed every Gorilla’. The charitable side of the exchange neatly aligns with Republic of Dogs’ own animal welfare concerns, which include funding dog charities.
On August 22nd the Republic of Dogs confirmed that the number of unique addresses holding ROD tokens had now surpassed 5,000. This dog republic may still be small, but it is growing.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
