Shiba Inu, one of the oldest and most well-known Inu tokens, garnered a lot of attention in 2020 thanks to its ambitious plan and the sponsorship of Tesla CEO Elon Musk. Shiba Inu is also one of the most valuable Inu tokens.
As we moved into the year 2023, all indications pointed to this being the "breakthrough" year for the company's profits, as they planned to develop their very own blockchain technology that year dubbed Shibarium.
But things didn't work out the way Shiba Inu had hoped they would. The release of Shibarium was repeatedly put off due to a lack of communication from the development team as well as problems with the game's underlying technology. Because of this, ultimately, investors in $SHIB lost faith in the idea and sold their tokens, which caused a large decline in price.
According to information provided by CoinMarketCap, the value of $SHIB began the year at $0.00000677 and hit its all-time high on February 10th at $0.00001471, representing a rise of 117%. However, ever since that time, the value of the token has been steadily decreasing, and it has already dropped by more than half. As of the 10th of September, the price of $SHIB on cryptocurrency exchanges was $0.000007083, representing a modest growth of 5.4% since the beginning of the year.
Even the formal introduction of Shibarium on August 16th did not help to enhance the price of $SHIB when it was first traded. The value of the token continued to decrease during the past month, falling by 35.42% despite the fact that there were more than one million users on the blockchain.
$SHIB continued to struggle with losses, with a significant 35.42% decline in value in the month following the blockchain's public release, despite the fact that the number of users on Shibarium has been expanding steadily since the platform's introduction.
The Extraordinary Development Of Golden Inu
In striking contrast, Golden Inu ($GOLDEN) emerged as the undeniable victor in the race for profitability among "Inu" tokens in 2023. This was an unquestionable achievement.
After making its debut on the Binance Chain in February, the value of $GOLDEN [BEP-20] immediately began a stunning ascent in price. Holders of $GOLDEN saw an incredible growth in the value of their assets of 1200% just between the months of June and August.
According to information provided by CoinMarketCap, the price of $GOLDEN began the year at $0.0000000000123 and hit its all-time high on August 31 of this year at $0.0000000001567, representing an astounding growth of 1174%.
As of the 10th of September, the price of $GOLDEN on cryptocurrency exchanges is $0.0000000000469, representing a rise of 281% from the beginning of the year. To put that into context, people who held $GOLDEN experienced gains that were an astounding 60 times higher than their peers who held $SHIB.
An Insight At What The Future Holds
Golden Inu's potential for ongoing expansion looks to be a bright prospect, as the company has a number of ground-breaking projects lined up for the remainder of this year. The premiere of the role-playing game "Golden Treasury," which is scheduled to take place on September 21st, is one event that is being eagerly anticipated.
Players not only have the option to enjoy themselves while participating in this one-of-a-kind Web3 play-to-earn game, but they also have the possibility of earning $GOLDEN rewards. When buying tokens, players will be required to have a minimum of ten dollars' worth of $GOLDEN in their wallets. To ensure that their purchases go through without a hitch, players will need to alter the transaction settings to allow for a 7% slippage rate.
Alongside the introduction of the Golden Inuverse game, Golden Inu will also roll out "Golden Treasury," a brand-new token-burning system. This method allots fifty percent of the earnings made by the ecosystem's decentralized applications (dApps), such as Golden Inuverse, to the acquisition and destruction of $GOLDEN tokens. This forward-thinking strategy encourages deflation inside the ecosystem, which boosts the value of each circulating $GOLDEN token while also encouraging support for the apps developed by the project.
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