The Africa first Meme token Wakanda Inu has announced the upcoming token burn of 750 Trillion units which is approximately 76% of the total coin supply. The Token burn would occur on the 7th day of December 2021.
About the Africa Meme token
$WKD originated as a community meme project that depicts the daily challenges and ambitions of every human being, according to its white paper. The token wishes to unite individuals of many origins together under a single, unified flag by symbolizing the spirit of community, or in this instance, Wakanda.
About the Burn
Wakanda Inu, the African dog meme token, has stated that it would burn $150 million WKD tokens, or 76% of its total supply.
This news was made through a Medium post. On the 7th of December 2021, 2 days from today, the token will turn to gold.
Wakanda Inu was released on November 7th, following a 24-hour token sale that raised over $800,000, of which 80% was locked away and supplied as liquidity on pancakeswap.
In the 28 days after its introduction, the project has developed tremendously. After hitting a peak of $40 million, it now has over 96K holders and a market value has recently dropped a little from its all-time high of 40 million dollars.
Effect of the burn
Wakanda Inu is currently trading at $0.0000001491 which pales in comparison to the unit price some days ago. But all these are very likely to change as the token burn of over 76% would see investors believe more in the project as it reduces the chance of a rug. Burning the token simply means making them unusable which also means that the supply of Wakanda Inu tokens would be drastically reduced and here we see the Economics principles in full swing. As they say ‘the smaller the supply of an item, the higher the price.
The Wakanda Inu token’s maximum supply will be reduced to 24 percent of a quadrillion after a 76 percent burn.
It’s unknown whether further token burns will be announced in the future, but in any case, Wakanda Inu may be the crypto space’s fastest-rising meme token.
Summary
Therefore in summary we should all anticipate the token burn as burning over 76% of the total token supply would see a massive impact on price. The African meme coin, which is currently listed on roughly 13 exchanges across the world, has sparked remarkable interest and activity on social media, where it was a hot topic on Twitter for a few days.
You can buy your Wakanda Inu meme coin from flitaa exchange as it’s one of the major centralized exchanges that Wakanda Inu listed on it. You can also buy from pancakeswap.
You can also read
Africa First Meme Token – Wakanda Inu Finally Listed on CoinmarketCap In 2021
Africa First Meme Token – Wakanda Inu Finally Listed on CoinmarketCap In 2021
