The circulating supply of DODO tokens
https://scout.cool/dodoex/mainnet/
Last updated
https://scout.cool/dodoex/mainnet/
Last updated
One of the indicators that I use to sense a potential selling pressure is the sudden large increase of circulating supply of a token. I will use DODO token as an example. Everything mentioned in this post are purely based on my speculations and some references below from CoinGecko. Please do NOT take any content here as investment advice.
Go to the Holders by balance chart
You can change the balance parameter to any numeric value to limit the number of listed accounts. For example, you can only list accounts with over 990000 tokens. https://scout.cool/dodoex/mainnet/charts/60259f0fdbc8b500178e9460?balance=990000
The distribution of the tokens are not very even which makes my job relative easy. All the key wallets are on the first page.
0x4447, 0x3e19, 0x95C4, LockedTokenVault1: The pattern of balance change in these wallets is a step function graph. All the changes are large in volumes but don't occur very often. My guess is that they are probably the "reserves" wallets which the team controls.
DODORewardVault: This could be the smart contract that gives out rewards regularly to those who provide liquidities.
DODOMine: The smart contract where people deposit DODO tokens to earn more DODO tokens.
DODO Pairs: DODO-USDT: The liquidity pool for trading DODO tokens.
Based on the token economics, there are total 1 billion tokens.
By subtracting the balances of all the key wallets (except DODO Pairs: DODO-USDT) from 1 billion, you will get below graph. The live chart is here.
In general, I like what I am seeing:
The circulating supply is stable.
People prefer holding onto DODO tokens (to earn more tokens) over selling it.
The demand for DODO tokens keeps increasing.
And the price below seems to agree with this narrative.
