The development team behind BabyDoge continues to run meme coin burning events. Accordingly, more than 33 trillion meme coins have been burned in the last 24 hours, thus taking another step towards reducing the token supply. There is a special incineration portal that is expected to be launched and although this portal has not been released yet, there has been an increase in incineration events.
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In the past 24 hours, 33,669,636,369,369 (~$50,134) #BABYDOGE tokens have been burned. So far, 201,337,892,764,148,704 #BABYDOGE tokens (47.938%) have been burned from the total supply of 420,000,000,000,000,000. #BabyDogeCoin #BabyDogeArmy @BabyDogeCoinNEWS CONTINUES BELOW— Burn BabyDoge (@babydogeburn_) January 30, 2023
The official BabyDoge Twitter account is keeping an eye on the development, noting that although the new incineration portal has not been launched, incineration activities continue. pulled.
In addition, data from CryptEye reveals that 699.5 trillion in meme coin burns took place last month and 100.3 trillion last week. Total cumulative burns currently stand at 201.3 quadrillion coins, representing 47.94% of the asset’s total supply of 420 quadrillion.
Despite the increase in incineration, the community believes it is necessary to accelerate the incineration rate to ensure that the supply is reduced significantly. To this end, the project’s development team has introduced a dedicated BABYDOGE burning portal where community members can burn their tokens and receive incentives for doing so.
As we previously reported, the team announced their plans to develop the portal three weeks ago, stating that they will offer users the opportunity to purchase BABYDOGE at a discounted rate when they burn their tokens on the portal. Last week, the team behind the project announced that they have completed the development of the portal in question and will launch it soon.
New Milestone in BabyDoge DEX
Alongside the heavy burning activities, the BabyDoge project continues to attract investors’ attention among the notable developments aimed at increasing adoption. Last month, BABYDOGE partnered with leading decentralized aggregator 1inc.
Besides, BabyDogeSwap, the project’s private decentralized exchange, hit an all-time high in liquidity on Sunday, with a massive $39.5 million total locked in the exchange. DEX is currently among the top 20 DeFi apps on the BNB network.
You can follow the current price action here.
Source : the crypto basic