In 2023, the cryptocurrency market was tough for memecoins but could also be very profitable. After the initial crypto boost in early 2023, popular tokens like Bitcoin and Ethereum stopped growing because of the heavy governmental pressure that hung over the market.
After that, buyers decided to spread out their wallets even more, looking for tokens that would be more volatile and might make them money. Memecoins became more famous over the course of the year because of all of these differences.
The trading volume of popular meme tokens like Dogecoin went up a lot, mostly because of what Elon Musk did as CEO of Twitter. Around the middle of the year, new tokens like Golden Inu got a huge amount of popularity.
Shibarium, Shiba Inu's layer-2 blockchain, was about to go live, which would add even more excitement to the scene.
Investors saw two tokens fighting for one spot: the memecoin with the most useful features. They were Golden Inu, which had the fastest growth, and Shiba Inu, which had the fastest ecosystem growth.
The market share of the second-largest memecoin was working on a new blockchain launch. At the same time, Golden Inu launched a number of new apps that would make its token, $GOLDEN, valuable.
How Much Did $Shib Investors Make In 2023?
The truth is that Shiba Inu's behavior all year was nothing but disappointing. Many people thought that the project would become very valuable and well-known in 2023, when Shibarium came out and news about ShibaSwap spread.
On the other hand, the project team had a number of mistakes before the blockchain went live. As time went on, Shibarium kept getting pushed back, and many previous $SHIB investors started to doubt that the project could stick to its schedule.
Shibarium was started already on September 10, but you can't tell from the performance of $SHIB that it had any change from being live.
SHIB has only gone up in value by 5.4% since January 1st of this year. Most of these gains come from the currency's peak in February, when it was worth $0.00001471. But the value of Shiba Inu's coin has dropped sharply since then.
$SHIB has lost more than half of its value since February, when it hit its all-time high. It is now selling at $0.000007083.
Even more proof that investors aren't sure about putting a lot of money into the project is the fact that the number of Shibarium users has gone up since its launch on August 16 but the value of the token has gone down. Following the release of the blockchain to the public about a month ago, the price of $SHIB has been falling even more sharply, losing 35.42%.
How Much Did People Who Put Money Into $20 Golden Gain In 2023?
In the red corner, the new contender for the title of most profitable "Inu" of the year put on a totally different show.
When it first appeared on the Binance Chain in February, Golden Inu's $GOLDEN token went on one of the best rides in the market. It was worth over 1200% more for people who owned $GOLDEN from June to August alone.
In reality, the ticket had some bad times during the year. Even though several different security experts gave Golden Inu good reviews, investors were still skeptical, which is common for new projects.
But so far, people who own $GOLDEN have no reason to be unhappy. Overall, the value of the currency increased by almost 300%, which is the same as tripling the money that buyers put into it.
To get an idea of how important these numbers are, investors in $GOLDEN made 60 times more money than investors in $SHIB. When you consider that Golden Inu is planning a lot of new and exciting things to happen before the end of the year, the currency could end the year with even bigger gains.
Token Burning + Stunning New Player-to-Player Game
The 21st of September will see the release of Golden Inu's newest role-playing crypto game. "Golden Inuverse" is the name of the earn-as-you-play game. Playing this one-of-a-kind Web3 p2e game will reward you with $GOLDEN.
While Golden Inuverse itself doesn't cost anything, having ten dollars' worth of $GOLDEN in your in-game wallet is a must. Remember to set the slippage to 7% while purchasing tokens to ensure a seamless transaction.
The memecoin's new token-burning mechanism, Golden Treasury, will be activated simultaneously with the introduction of Golden Inuverse. The system sets aside 50% of all dApp ecosystem income (including Golden Inuverse's) to repurchase and burn $GOLDEN.
Token burning by Golden Inu is innovative because it encourages investors to use and support the project's applications by causing deflation in the ecosystem and increasing the value of each $GOLDEN token in circulation.
If you ask any $GOLDEN holder today, they will almost certainly tell you that they can't wait for the price of their cryptocurrency to explode once the Golden Treasury is online.
Because of this, many people in the memecoin community see Golden Inu as the most promising new initiative in a long time. The fact that this currency has not only survived, but thrived, despite competition from hundreds of competing memecoins, bodes well for its long-term viability.
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