The BabyDoge team is set for a whopping 50 quadrillion tokens burn on the Ethereum network tomorrow, June 29. For this burn to take place, the corresponding voting results must be on the approval end. At the time of writing, voting on this burn proposal has closed and the result is yet to be officially disclosed.
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Upcoming 50 Quadrillion Tokens Burn on ETH
The idea behind the possible burning of 50 quadrillion BabyDoge Coins is to further reduce the total supply of the memecoin. To note, when tokens are burned, they are removed from circulation forever.
In marking the project’s birthday, on June 1, the BabyDoge team rolled out a burn proposal for the community to approve or vote down. The voting, which employed a single-choice voting concept, was open for 27 days only.
The voting window for this proposal was closed as of June 28 at 4:00 UTC. However, the outcome of the voting is yet to be officially announced at the time of writing.
On the voting dashboard, it reads that;
“Results could not be calculated. This is often due to a misconfigured strategy or an unresponsive RPC node involved in the strategy.”
Nonetheless, other sources say that the voting outcome is in support of the team burning 50 quadrillion BabyDoge coins on the Ethereum network in one go, on June 29.
Read Also: BabyDoge Surges 14% After the Team Burned 14 Trillion Tokens; 196.1 Quadrillion Destroyed So Far
The burn rate of the low cap and large volume memecoin continues to rise as more and more burn activities surface.
Earlier today, the BurnBabyDoge Twitter handle disclosed that 10.4 trillion BabyDoge tokens have been burned in the last 24 hours. Likewise, the team previously burned 3.2 quadrillion tokens worth over $10 million.
With these massive burns taking place, the price of BabyDoge token saw a 14% price increase today as revealed by Coinmarketcap. So far, 196.1 quadrillion Baby Doge Coin tokens, amounting to 46.70% of the memecoin’s initial supply of 420 quadrillion have been destroyed.
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