Shiba Inu investing loses focus as burn rate plummets
Burning Shiba Inu is celebrated as a powerful way to boost the SHIB price.
There are currently 549 trillion Shiba Inu tokens in the circulating supply, and Shiba Inu in early November 2022 has a token price of $0.000011. But imagine if 548 trillion Shiba Inu tokens were destroyed?
Shiba Inu would suddenly have a price of $0.006 – a 55,000% price gain.
Sadly, such a scenario is a long way away. Shiba Inu just had its worst month of burning SHIB tokens all year. If SHIB burning continues at such a slow rate we won’t see such price gains for at least 50,000 years according to Shiba Burn Tracker.
Shiba Inu burns drop -97% in October 2022
Just 882 million Shiba Inu entered burn addresses in October, worth around $8,500. It’s a much lower figure than in September with 1.8 billion SHIB destroyed, and it’s a -97% drop compared to May with 31 billion SHIB destroyed.
So why is so little Shiba Inu being burned?
A quick look at monthly Shiba Inu burns on Shiba Burn Tracker shows one clear conclusion: more Shiba Inu is burned during bull market phases than bear markets, despite the lower cost of burning SHIB.
But that’s not all. May this year was the best month for burning Shiba Inu on record. The month coincided with the launch of the burn portal on the ShibaSwap website. The project promised to pay out passive income to anyone who burned their Shiba Inu there.
Unfortunately, the burn portal was a failure. ShibaSwap admitted mistakes and officially took over the project from its creators.
EverGrow set for 8,300,000% price gains in next 20 years
It’s worth comparing Shiba Inu’s trajectory with leading hyper-deflationary token EverGrow.
While Shiba Inu destroyed 0.01% of its total supply in the past 12 months – EverGrow destroyed 2.5%. EverGrow is burning its supply 250 times faster than Shiba Inu.
With more than 53% of the EverGrow original supply in the burn address, EverGrow is on track for a price of $0.01 within 20 years. That’s a price gain of 8,300,000% from the current EverGrow price of $0.00000012.
How is EverGrow achieving this?
EverGrow charges a transaction tax of 14%. A 2% cut is used to buyback and burn EverGrow – and it’s this 2% tax which has burned through so much supply in the past 12 months.
But the tax is not the only burn mechanism. If you’re reading this in 2022, you could have a chance to buy EverGrow before the price explodes.
Read more about EverGrow here: https://evergrowegc.com/
The first stage of the EverGrow ecosystem came to life in September. EverGrow launched its flagship NFT marketplace LunaSky – announcing that 100% of all revenue will be used to buyback and burn EverGrow.
It’s not just sending EverGrow to a burn address like with Shiba Inu. The EverGrow mechanism actually buys EverGrow from a decentralised exchange (PancakeSwap) and sends it to the burn address.
EverGrow burns therefore register as a buy on price charts.
EverGrow gained more than $250,000 in burn funds after launching LunaSky. The funds are about to be deployed to pump the EverGrow price on a daily basis until the end of the year.
Anyone buying in now not only has a chance to realise impressive ROI, but also to invest in a project that’s drastically beating Shiba Inu on token burns and will set the bar for the whole crypto industry.
Read more about EverGrow here: https://evergrowegc.com/
The post Shiba Inu investing loses focus as burn rate plummets appeared first on Analytics Insight.
Burning Shiba Inu is celebrated as a powerful way to boost the SHIB price.
There are currently 549 trillion Shiba Inu tokens in the circulating supply, and Shiba Inu in early November 2022 has a token price of $0.000011. But imagine if 548 trillion Shiba Inu tokens were destroyed?
Shiba Inu would suddenly have a price of $0.006 – a 55,000% price gain.
Sadly, such a scenario is a long way away. Shiba Inu just had its worst month of burning SHIB tokens all year. If SHIB burning continues at such a slow rate we won’t see such price gains for at least 50,000 years according to Shiba Burn Tracker.
Shiba Inu burns drop -97% in October 2022
Just 882 million Shiba Inu entered burn addresses in October, worth around $8,500. It’s a much lower figure than in September with 1.8 billion SHIB destroyed, and it’s a -97% drop compared to May with 31 billion SHIB destroyed.
So why is so little Shiba Inu being burned?
A quick look at monthly Shiba Inu burns on Shiba Burn Tracker shows one clear conclusion: more Shiba Inu is burned during bull market phases than bear markets, despite the lower cost of burning SHIB.
But that’s not all. May this year was the best month for burning Shiba Inu on record. The month coincided with the launch of the burn portal on the ShibaSwap website. The project promised to pay out passive income to anyone who burned their Shiba Inu there.
Unfortunately, the burn portal was a failure. ShibaSwap admitted mistakes and officially took over the project from its creators.
EverGrow set for 8,300,000% price gains in next 20 years
It’s worth comparing Shiba Inu’s trajectory with leading hyper-deflationary token EverGrow.
While Shiba Inu destroyed 0.01% of its total supply in the past 12 months – EverGrow destroyed 2.5%. EverGrow is burning its supply 250 times faster than Shiba Inu.
With more than 53% of the EverGrow original supply in the burn address, EverGrow is on track for a price of $0.01 within 20 years. That’s a price gain of 8,300,000% from the current EverGrow price of $0.00000012.
How is EverGrow achieving this?
EverGrow charges a transaction tax of 14%. A 2% cut is used to buyback and burn EverGrow – and it’s this 2% tax which has burned through so much supply in the past 12 months.
But the tax is not the only burn mechanism. If you’re reading this in 2022, you could have a chance to buy EverGrow before the price explodes.
Read more about EverGrow here: https://evergrowegc.com/
The first stage of the EverGrow ecosystem came to life in September. EverGrow launched its flagship NFT marketplace LunaSky – announcing that 100% of all revenue will be used to buyback and burn EverGrow.
It’s not just sending EverGrow to a burn address like with Shiba Inu. The EverGrow mechanism actually buys EverGrow from a decentralised exchange (PancakeSwap) and sends it to the burn address.
EverGrow burns therefore register as a buy on price charts.
EverGrow gained more than $250,000 in burn funds after launching LunaSky. The funds are about to be deployed to pump the EverGrow price on a daily basis until the end of the year.
Anyone buying in now not only has a chance to realise impressive ROI, but also to invest in a project that’s drastically beating Shiba Inu on token burns and will set the bar for the whole crypto industry.
Read more about EverGrow here: https://evergrowegc.com/
The post Shiba Inu investing loses focus as burn rate plummets appeared first on Analytics Insight.
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