BabyDoge community agrees to burn 50 quadrillion more tokens
BabyDoge is a popular memecoin that received massive publicity last year thanks to Elon Musk’s viral tweets and extremely active engagement from its fans and holders. Initially, its number of tokens was 420 quadrillion, but thanks to the burning mechanism over the year it was possible to reduce this number by almost half, and now this figure is equal to 232 quadrillion.
Lately, the burning rating has not been much, but apparently the BabyDoge team, with the advice of the community, decided to step up the pace and successfully burned 6 quadrillion tokens in the first two days of June. Perhaps we can consider it a gift for BabyDoge’s first birthday.
Additionally, a vote has been cast to burn another 50 quadrillion tokens. At the moment, the main option in the vote is to burn BabyDoge’s 50 quadrillion all at once, while the least popular option was to do it gradually over a two-month period. Voting will continue until June 28, and if you’re a proud BabyDoge holder, you can contribute to the community.
At the same time, it should be clarified that the vote to burn 50 quadrillion applies to BabyDoge on the Ethereum network. No one specifies whether there will be similar actions on the project’s main network, BSC.
What’s the point of burning?
Burning is the most common and perhaps one of the most effective ways to increase both price per token and overall market capitalization. This tool is used by both meme projects like Shiba Inu and BabyDoge and serious crypto tech players like Polygon, which also successfully launched its MATIC token burning not too long ago.
