Today, the Dogs of Elon team announced on their telegram that they have burned 10 million $DOE tokens, worth $500,000. The team has provided an Ethereum transaction as proof of the BURN.

What Is Dogs of Elon?

Dogs of Elon ($DOE) is an emerging NFT and crypto project that is aimed at the meme coin hodlers. The project features an NFT collection featuring everyone’s favorite canine along with a $DOE token that can be traded on exchanges.

Why Burn Tokens?

The first question that might come to your mind is why burn $500,000 worth of $DOE tokens? For those aren’t familiar, burning tokens is a great way for projects to increase the scarcity of their tokens which in turn projects a value increase on each individual token.

Burning tokens is a great way for teams to show their dedication to the project and reassure investors that they will be able to recoup their initial investment.

Join the $DOE presale

Dogs of Elon are currently hosting a presale for their $DOE token. The presale will last for only 6 more days and there are only 82 million tokens left.

The minimum amount one can purchase is 300 $DOE for the price of 0.004 ETH (roughly $17 at the time of writing)

To find out more about Dogs of Elon visit their website: https://dogsofelon.io/

For the latest news about $DOE make sure to follow their official twitter: https://twitter.com/dogsofelon

To stay involved with the $DOE community, make sure to join their telegram group: https://t.me/dogsofelon

Source: The VR Soldier