A whopping 30% token burn has seen Burn Kenny ($KENNY) become the biggest name on the lips of meme coin buyers on Web3 ahead of its ICO launch this week.
The recently launched Burn Kenny ($KENNY) has become one of the most talked about projects in the space as it follows in the footsteps of another South Park-themed token, the Mr Hankey Coin.
$HANKEY not only sold its pre-sale in just 10 hours, but then surged nearly 200% after hitting exchanges.
KENNY may well improve and is poised to break that record and sell it in even faster time.
Emotion builds over potential burnout
Token burning has long been an extremely effective method of increasing prices, generating bombs, and increasing the long-term health of a coin.
The likes of Shiba Inu, Cronos, and Luna Classic have all employed token burning which had a very successful impact on their projects, and Burn Kenny is the latest to employ significant burning.
While LUNC, for example, has burned just 1% of its massive token supply, KENNY is set to burn 30% of its tokens.
Furthermore, that burn will take place over just three days, which could generate incredible volume and interest as buyers rush to secure their tokens.
The total supply is 6,666,666,666 tokens, but 2 billion of them will be removed in 72 hours, and Burn Kenny will remove 10% per day for the first three days after launch on a decentralized exchange.
This could not only cause FOMO from other investors, but also incentivize retention, as buyers hold onto tokens longer, knowing that a price jump is possibly on the way.
Discrete ICO could sell out in hours
Burn Kenny has followed in the footsteps of another shitcoin, Mr. Hankey Coin, to offer a low-key ICO launch that will bring several benefits to the project as a whole.
The ICO is rumored to start on Thursday, July 20 at 6pm CET; however, buyers will need to follow the project’s social media channels (below) for the exact launch time.
That secret launch has piqued buyer interest even more, while the ICO has a small hard cap of just $500k and a fixed price of $0.0001875.
This small price, with no minimum or maximum investment, makes it open to everyone and also prevents early adopters from dumping newcomers, something that has been seen in multiple pre-sales of late.
HANKEY sold out in just 10 hours, but KENNY could do better given its robust burn, something Mr Hankey Coin didn’t offer.
The pre-sale will offer 2,666,666,666 tokens (40% of the supply) with the final 30% reserved for liquidity.
This large amount of liquidity will ensure that all trades are fulfilled and should ensure a high trading volume; liquidity is also locked in, which means there is no chance of a rug pull or pump and dump.
The Burn Kenny token has been developed by an anonymous group but they are extremely well placed on Web3 with long experience of success and connections in multiple alpha investment pools and with exchanges.
KENNY also caught the attention of analysts and token traders on YouTube, with one describing it as a ‘space rocket’.
To learn more about the project, read the whitepaper: Tokens can be purchased at burnkenny.vip with ETH or USDT.
Follow the Twitter page and join the Telegram group to get exact launch times and the latest news on the project.
Visit Burn Kenny
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This post Burn Kenny ICO launch generated buzz following success of South Park token Mr. Hankey Coin
was published first on https://cryptopotato.com/burn-kenny-ico-launch-generating-excitement-following-success-of-fellow-south-park-token-mr-hankey-coin/