DOGS Token at Risk | What Happens When 94% of Tokens Unlock Today?
DOGS Token Listing Price
The DOGS token price is on the brink of testing the critical $0.001 support level as the ecosystem braces for a major Token Generation Event (TGE) on August 26th. This event is set to release a staggering 502.48 billion DOGS tokens into the market, significantly increasing the circulating supply and potentially impacting the token's value.
As the DOGS ecosystem prepares for this massive influx of tokens, investors and traders are closely monitoring market dynamics, anticipating potential price fluctuations. The substantial token release could lead to heightened selling pressure, testing the resilience of the $0.001 support level. Market participants are advised to stay informed and consider the implications of this Token Generation Event on their trading strategies.
With such a significant increase in supply, the DOGS token's price trajectory remains uncertain. Will the market absorb the newly released tokens, or could this lead to a downward spiral? All eyes are on DOGS as it approaches this pivotal moment in its market history.
Key Points
- DOGS Token is set to release 502.48 billion tokens (91.4% of the total supply) on August 26th, with 72.7% earmarked for a community airdrop.
- DOGS price saw a surge in momentum following its listing on Gate.io and its inclusion in Binance’s 57th launch pool.
- The $0.001 level remains a crucial support for DOGS buyers to protect as the token unlock approaches.
DOGS, a community-focused cryptocurrency built on the TON Blockchain, aims to tap into Telegram's massive user base and popular meme culture. Recently, DOGS has caught the eye of investors due to its unpredictable price movements during a volatile August market. However, with billions of DOGS tokens set to be unlocked today, the asset faces the potential for a significant price correction.
DOGS Price Faces Major Test with 502.48 Billion Token Release
DOGS is a new meme coin featuring a dog mascot, originally created by Telegram's founder. It aims to introduce blockchain technology to a wider audience through fun experiences like tokenized stickers.
Recently, DOGS has gained popularity, especially after being listed on the Gate.io crypto exchange and included in Binance's 57th launch pool.
On August 26th, DOGS investors will witness a major Token Generation Event (TGE), where 502.48 billion DOGS tokens—91.4% of the total supply—will be released.
Most of these tokens, 400.02 billion DOGS (72.7%), are set aside for a community airdrop. This aligns with the project's focus on community ownership, which could boost user involvement and increase token circulation within the DOGS ecosystem.
The remaining tokens are allocated as follows: 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 Binance Launchpool, and 17.9 billion DOGS (3.27%) for advisory.
Such a large token release could flood the market with supply, potentially causing a significant drop in DOGS' value. While the community airdrop might dilute the market, the gradual release of tokens for the team and advisory through linear vesting schedules will add to the circulating supply over time, rather than all at once.
Can DOGS Token Recover After the Token Unlock?
During the mid-August sell-off, DOGS found solid support at the $0.001 level, which helped boost its price by over 200%, reaching a resistance point at $0.0031. This kind of rapid movement is common in meme coins, which are often driven by speculative trading.
Currently, DOGS is trading at $0.0021. If the upcoming token unlock increases selling pressure, the price could drop by 50%, potentially falling back to its previous support level. If that support breaks, DOGS holders might look for support around $0.0008.
On the other hand, if buyers can keep the price above the $0.001 support level, the next recovery could push the price up to $0.0052.
FAQs
Why is the August 26th Token Generation Event (TGE) important for DOGS?
The TGE will release 502.48 billion DOGS tokens, which make up 91.4% of the total supply, and this could have a major impact on the market.
What is the key support level for DOGS during the token unlock?
The $0.001 level is a crucial support for DOGS, and it’s essential to keep the price from falling further.
What might happen to DOGS’ price after the token unlock?
If selling pressure increases, the price could drop by 50%. However, if the $0.001 support holds, the price could recover and reach $0.0052.
