DOGS and Notcoin to Burn $4 Million in Tokens - Potential Price Rally Ahead
As reported by CNF, both DOGS (DOGS) and Notcoin (NOT) are gearing up to burn $4 million worth of unclaimed tokens from their Telegram airdrops on October 9. This event, which has garnered strong community support, could lead to a decrease in Token supply and an increase in scarcity, potentially boosting the Market prices of both tokens.
Community Support Fuels Optimism
- The planned burn of $4 million in DOGS and Notcoin tokens could decrease supply and increase scarcity, potentially boosting their market prices.
- Strong community approval and involvement in the token burn decision have fostered a bullish sentiment, raising expectations for a price rally following the event.
The decision to burn unclaimed tokens was met with enthusiasm from the community, with many anticipating a positive impact on the tokens' market performance. The live stream of the token burn, scheduled to take place on X (formerly Twitter) at 1 p.m. UTC, has further fueled excitement among supporters.
Price Predictions for DOGS and Notcoin: Potential Rally on the Horizon?
At present, DOGS is trading at $0.0007211, experiencing a slight decline of 0.88% in the last day but showing an increase of 11.35% over the past week. Despite a 55% drop from its launch price, there is a sense of optimism surrounding DOGS within the market. Notcoin, on the other hand, is currently trading 46% below its all-time high.
Despite these setbacks, community sentiment remains positive leading up to the token burn event. The decision to allocate a portion of unclaimed tokens to charitable causes demonstrates a long-term Growth strategy favored by the community over short-term financial gains.
Technically, DOGS’ price is showing signs of trying to break out of a descending triangle pattern on the 4-hour chart. If successful, DOGS could potentially rally to $0.00088 and even reach $0.0010. However, a failure to break out could see the price retract back to $0.00068. Similarly, Notcoin is aiming to surpass $0.0085, with targets set at $0.011 or even $0.014. Conversely, a failure to rise could result in a price drop to $0.0072.
Recent discussions highlighted in a previous CNF post pointed out that both DOGS and Dogecoin faced price stagnation due to a significant transaction from a DOGE whale into RCO Finance. As of now, Dogecoin (DOGE) is trading at $0.109, with a 0.41% decrease for the day but a 0.59% increase for the week.
