On August 25, Dogechain, the blockchain for Dogecoin, was involved in rumors of “sneaky” discharging DC tokens. This has caused a stir in the crypto community and raised questions about the credibility of the project team.
On August 24, Dogechain announced the release of DC, Dogechain’s tokens as an airdrop for users. At 3 am on August 25, DC token was listed on Uniswap trading with DC/wETH trading. Currently, DC is trading at $0.001305.
However, this afternoon (August 25), the social network community spread rumors about the news that this project had completely discharged its tokens.
ZachXBT, a popular on-chain investigator on Twitter, pointed out a wallet address that received more than 20 billion DC tokens equivalent to 2% of the total supply and started “discharge to the community”.
Similarly, a Twitter account with the name SatoshiFixer denounced the project and released a program reporting the token transfer process of the project wallet address.
— SatoshiFixer (@SatoshiFixer) August 25, 2022
This issue was also mentioned by the “on-chain wizard” in a recent tweet. In addition, he also warned people about the phenomenon of “pump and dump” tokens.
The trail of some $DC fuckery 🧵:
0xfe3d deploys the $DC contract on dogechainhttps://t.co/P8Q4UEKWUp
0xfe3d mints 1 trillion $DC to 0xBce7https://t.co/9K4VG1Nb4A
0xBce7 sends 50bn $DC to 0xF82https://t.co/4rxOvcEeuF
— Onchain Wizard (@OnChainWizard) August 25, 2022
The Onchain wizard shows a wallet address 0x3dc that has received hundreds of millions of tokens from 0x410, given the project’s airdrop token distribution wallet address. 0x3dc is also the first wallet address to buy DC tokens on Uniswap. Specifically, this wallet address bought 485 million DC tokens with 40 ETH (about 67 thousand USD). After that, this wallet address gradually sold DC tokens when the community began to rush to buy and earn more than 700 thousand USD.
Up to now, this is still a rumor that has not been confirmed.