DogeChain Developer dumping 2 billion $DC immediately after launch grabbing a lot of attention in the market and also in social media channel twitter
- DogeChain developer found dumping 2 billion $DC, peaking at 1 million tokens a minute
- The qualifying criteria for acquiring the tokens
- Some of the users predict malpractice
- The DogeChain foundation warning
Let’s look at a series of tweets first.
#DCLaunch takeoff! 🚀
🔹 Contract address – 0x7B4328c127B85369D9f82ca0503B000D09CF9180 pic.twitter.com/cyB9NC4Ngn
— Dogechain💜 (Giving away a Tesla) (@DogechainFamily) August 25, 2022
Nice a wallet that received 20,000,000,000 DC for free ties directly back to the deployer and has already started dumping tokens on people.
— ZachXBT (@zachxbt) August 25, 2022
— SatoshiFixer (@SatoshiFixer) August 25, 2022
After referencing the tweet, we understand that, DogeChain went on to launch its native token recently called “$DC.” Before the launch of the news could spread and make an impact in the market, another news started spreading like a wildfire.
One of the users from twitter ZachXBT went on tweet that, a wallet started dumping around 2 billion $DC tokens as soon as it had launched. The peculiar aspect about the information was that, the wallet actually belonged to one of the developers of DogeChain.
It was further reported that, the user went on a spree selling the token. The peak rate of selling was achieved when the user went on to sell around 1 million tokens in just a minute, which certainly grab a lot of eye balls in the crypto space.
Let’s see how the $DC was being made available to the users of DogeChain.
The Qualification Criteria
On August 24, Dogechain released its DC token through an airdrop to eligible wallets. Any Dogechain wallet that had interacted with the protocol prior to August 23 met the qualification requirements. This would require integrating Dogechain protocol with Dogecoin(DOGE) liquidity.
When the DogeChain introduced $DC tokens were getting dumped by the developer, some of the critical experts in the market guessed that there was a mal practice happening. Let’s get into details on how the analysts thought it was a malpractice
According to u/evelynvee (a reddit user), the tokens of DC cannot be dumped on Ethereum Blockchain. According to him, “Since connecting to the Ethereum chain costs 8 million DC tokens and requires a minimum transfer of 9 million DC tokens ($16,000), holders of DC tokens typically cannot sell them.”
The warning from DogeChain
As the news started trending in social media, the foundation board member went on to issue an warning that DogeChain is being defamed, by stating false facts by some of them in the paid media channels such as social media.
What do you think about the dumping? Do you think there was any kind of mal practice happening in the company? Share your thoughts in the comment section. Also in case you like the information mentioned in the article, then don’t forget to share it with your friends and family