A note from the LunaDoge team

  1. We chose to sell 8T tokens from the dev address (0.8% of the total supply). We did this a couple of weeks ago and the effect of such a sell was expected to be -23%. Last time, the token dropped 20% and price got back up within half a day. We announced the sells, posted the transactions and no one batted an eye. This time, 15 seconds after our first sell, a former valued community member sold his stack and left the project. This was the catalyst for an unprecedented drop in price, where the token price dropped another 50%.
  2. Our dev wallet funds are the result of a 4% allocation plus static rewards appreciation. These tokens were locked for 14 days initially. A small reminder, we launched this project with our own funds. These developer tokens were valued at $400 at the time of our launch. Since we had to manually lock all of our tokens during launch, we were not able to buy “cheap” LOGE when everyone else who participated during launch were able to grab percentages of the total supply for under 1 BNB. We could have done a stealth launch and bought up 20% of the supply and then slowly dumped that stack and nobody would have noticed. All of our transactions have been transparent, and all we get is negative reactions. This is impacting us negatively as a team, because it just shows that nothing except price appreciation matters to the bulk of our investors.
  3. As a result of all of the commotion in the chat and after carefully considering the options with the team, we chose to lock our dev tokens for the next month. The rewards accrued by the contract address will be burned. As a personal sorry note to all of the investors negatively impacted by the unfortunate chain of events, I’ve burned 5T LOGE of my own tokens.
  1. Burn address: 61.2T
  2. Team token lock contract: 40.6T

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LunaDoge

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