Shiba Inu (SHIB) has recently gone down a lot in value; in the past year, it has dropped over 33.27%. The thing has lost more than 6% of its value in just the last week.
Even worse for holders, there are more sellers than buyers in the market right now. There are current sell orders for 2.5 trillion SHIB on 16 major exchanges, which is more than the active buy orders for 2.14 trillion SHIB. This shows that there is a lot of pressure to sell Shiba Inu, which is making it go down.
The price of the former Dogecoin Killer has dropped to its lowest level since July 2021. This has investors and fans confused. Shiba Inu has been on a roller coaster ride of ups and downs, even though a lot of work has been put into improving its environment. This shows how unpredictable the cryptocurrency market is.
The people who owned $SHIB were betting that the start of the layer-2 blockchain "Shibarium" would lead to interesting and positive changes in the crypto. That being said, the currency hasn't helped them grow much in the last two years.
That being said, Shibarium has now had 3 million transactions, but the blockchain has only received about $0.38 worth of $BONE from those deals. The latest burn rate of the currency has been staying the same. The development team says that the blockchain will play a key role in the burning of tokens once Shibarium has collected around $25,000 worth of $BONE from transactions. But at this rate, there would have to be more than 5 quadrillion transactions on the blockchain for it to hit $25,000.
Golden Inu With New Changes To Its Ecosystem
Shiba Inu is having a hard time, but Golden Inu ($GOLDEN [BEP-20] Token) has quietly become a possible rival. With a 130% increase in September, Golden Inu has caught the attention of investors looking for options in a market that is always changing. The cryptocurrency's rise is due to strategic moves and choices made by the community, which sets it apart from its struggling counterpart.
The upcoming release of Golden Inuverse, a role-playing game (RPG) that will reward players with $GOLDEN tokens, is a big part of the game's appeal. Adding gaming and cryptocurrency to $GOLDEN makes it more useful, which makes it a good choice for investors and players.
People are interested in the idea of earning tokens through gameplay, which could change how cryptocurrencies are used in the gaming business. Also, Golden Inu (GOLDEN) coin burning is likely to start at that time. This is expected to boost the value of the cryptocurrency.
The Golden Treasury Plan
The innovative method of the Golden Inu (GOLDEN) token includes adding the Golden Treasury token-burning mechanism. Part of the money made by decentralized apps like Golden Inuverse will go to this community-backed project to buy back $GOLDEN tokens that are in circulation and burn them. This planned decrease in the token's supply not only makes its price go up, but it also adds a level of security that is often missing in the volatile world of cryptocurrencies.
This method is different from others because it can add a steady burning rate. This makes the currency healthier and could make $GOLDEN one of the most profitable memecoins ever.
This project will also be a great reason for everyone in the Golden Inu community to help the dApps in the ecosystem. Shiba Inu's drop makes people wonder if meme-based tokens will last, but Golden Inu's smart rise shows how important it is to be flexible and plan ahead when dealing with the unpredictable crypto world.
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