@ZachXBT self-described “on-chain sluth” tweeted that wallets linked to developer Dogechain have began dumping DC tokens.
Dogechain launched DC tokens on August 24 by way of airdrop to eligible wallets. Eligibility standards are any Dogechain pockets that interacted with the protocol earlier than August 23. This requires including Dogecoin liquidity (DOGE) to the protocol.
Reddit consumer u/evelynvee posted that the developer pockets talked about by @ZachXBT is dumping 20 billion tokens acquired from the airdrop at a peak of 1 million tokens a minute.
In keeping with u/evelynvee, DC token holders typically can’t dump their tokens as a result of there’s a charge of 8 million DC tokens to connect with the Ethereum chain, plus a minimal switch of 9 million DC tokens ($16,000).
The official Dogechain Twitter web page didn’t reply to requests for remark on the time of writing.
Dogecoin Basis board member Jens Wiechers warned that Dogechain will not be a associated product and is disseminating false data on the contrary. Equally, Dogecoin developer @cb_doge mentioned it’s “one other faux token” and warned DOGE holders to not danger their meme-coins.
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