• Shiba Inu has burned 380 billion SHIB tokens, aiming to increase the token’s value.
• However, the token burning had only little effect on its price prediction.
• Metacade is a new and innovative project which offers potential for unheard of gains due to its high utility tokens.
Burning Tokens: The Shiba Inu Strategy
Shiba Inu (SHIB) is a meme coin project that recently burnt 380 billion tokens in an attempt to drive up the price of their coin. This strategy follows the example set by Ethereum founder Vitalik Buterin, who famously burnt his own 410 trillion SHIBs back in 2021. Despite this massive burn, the total supply of SHIBs still stands at one quadrillion tokens and thus these burns have not had much impact on their price prediction.
A New Project with High Utility Tokens
As it stands, projects such as Shiba Inu are having difficulty regaining momentum due to the lack of progress being made in their ecosystems. Projects like Metacade however offer far more potential for investors and have seen huge success with its $5.4m presale raise in record speed. This is largely thanks to its high-utility tokens which can be used across various platforms and functions within the ecosystem – something that sets it apart from other projects such as Shiba Inu.
What Is Shiba Inu (SHIB)?
Shiba Inu is a meme coin project built on top of Ethereum’s blockchain and modelled after Dogecoin’s success story as an alternative cryptocurrency investment option. Despite attempts to create a token utility through burns, there has been little change in its overall price prediction due to the sheer amount of tokens still left in circulation despite burn events taking place multiple times since 2021.
Metacade: A Better Investment?
Metacade offers greater potential for investors than just holding onto SHIB tokens due to its high level of utility that can be used across different platforms within its ecosystem – something that will always be attractive regardless of market conditions or headlines surrounding certain projects or coins. Those who decide to invest early on into this project stand a much better chance at earning substantial gains compared those who decided against investing or chose instead chose projects like Shiba Inu with fewer opportunities for growth and appreciation over time.
Conclusion
Token burning is often seen as a viable way for crypto projects to induce an increase in token prices but this does not always work out when dealing with large supplies such as Shiba Inus‘. Instead, investors should look towards projects like Metacade which offer far greater potential due to their high-utility tokens that are applicable across various platforms within their ecosystems – something that makes them much more attractive even during bear markets or when more newsworthy projects take center stage momentarily before fading away again quickly thereafter..