The dogecoin-related project is getting pumped. It’s not the first time. Community members are voting on a “great burn.”
The token, DC, began to increase in value on Friday, when it was trading at $0.0004 to then climb as high as $0.0018 on Sunday. The token hadn’t reached those levels since hitting its all-time high at the end of August.
The DC token has swung wildly before. It fell 90% from August to September, declining from about $0.004 to $0.0004.
Dogechain, which was launched in mid-August, now has a market capitalization of $46 million. Data from on-chain trackers shows that $5.8 million is locked on Dogechain-based products.
Dogechain community members are now voting on a “great burn” proposal, which determines whether the total supply of the token should be reduced by 80% proportionally throughout all allocations and reduce the vesting period of remaining Early Shibes airdrop from 48 to six months, according to the website. So far, 99% of votes are in favor.
BY: Lyllah Ledesma