- 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.
Despite recent struggles, as reported by CNF, DOGS (DOGS) and Notcoin (NOT) are set to burn $4 million worth of unclaimed tokens from their Telegram airdrops on October 9. This event has sparked excitement among the community, with many speculating that it could lead to a significant price rally for both tokens.
The token burn, which permanently removes tokens from circulation to reduce supply and increase scarcity, received community approval and will be streamed live on X (formerly Twitter) at 1 p.m. UTC.
Price Predictions for DOGS and Notcoin: Poised for a Rally?
Currently, DOGS is trading at $0.0007211, showing a decrease of 0.88% in the past day but an increase of 11.35% over the past week. Despite being down about 55% from its launch price, there’s an optimistic sentiment in the market. Notcoin, on the other hand, is trading 46% below its all-time high. Despite these setbacks, community sentiment has grown more bullish in anticipation of the token burn.
Notably, the community decided not to burn all unclaimed tokens, instead allocating a portion to charitable causes, reflecting a preference for long-term growth over immediate financial gains. Technically, DOGS’ price is trying to break out of a descending triangle on the 4-hour chart.
If successful, DOGS could rally to $0.00088 and potentially hit $0.0010. If it fails, the price might fall back to $0.00068. Similarly, Notcoin is looking to break above $0.0085, with potential targets at $0.011 or even $0.014. However, failure to rise could see its price drop to $0.0072.
Earlier discussions in a CNF post noted that DOGS and Dogecoin had price stagnation due to a large transaction from a DOGE whale into RCO Finance. Currently, Dogecoin (DOGE) is trading at $0.109, down 0.41% for the day but up 0.59% for the week.
