Friday, Sep 22, 2023

Shiba Inu Burn Rate Soars By 5000%, What Does This Mean For Other Meme Coin

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Shiba Inu Burn Rate Soars By 5000%, What Does This Mean For Other Meme Coin

Shiba Inu combines community support with the recent launch of the Shibarium testnet to take bolder steps towards reducing the supply of $SHIB.

Shiba Inu
Shiba Inu

The recent surge in the burn rate of Shiba Inu (SHIB) has sent shockwaves throughout the meme coin market. The burn rate, which represents the rate at which tokens are permanently removed from circulation, has skyrocketed by an astonishing 5000%. This significant increase in token burn has implications not only for Shiba Inu but also for other meme coins in the market.

Investors and enthusiasts are eagerly analysing what this surge in burn rate means for the future of meme coins and how it might impact their investments. Will other meme coins follow suit and implement similar strategies to increase scarcity and drive up value? Or will this development create a new paradigm in the meme coin space? These questions loom large as market participants keep a close eye on the evolving landscape of meme coins in the wake of Shiba Inu's extraordinary burn rate surge.


SHIB Burn Rate Soars by 5000%

Shiba Inu combines community support with the recent launch of the Shibarium testnet to take bolder steps towards reducing the supply of $SHIB. The most recent and remarkable display of this mission is the successful burning of an equivalent number of meme tokens as those moved to dead wallets over the past week.

The Shibburn tracker reports a massive total of 225,049,340 Shiba Inu tokens were permanently removed from circulation in the last few days. And with that, the Shiba Inu community recorded a noteworthy 5000% increase in the burn rate. 

The implications of such a burn rate extend beyond Shiba Inu itself and raise questions about its effects on other meme coins. Meme coins have gained popularity in the crypto market due to their community-driven nature and the potential for high returns. With Shiba Inu's burn rate surging, it has drawn attention to the importance of tokenomics and supply dynamics in the meme coin space.

Other meme coins may face pressure to adopt similar strategies to increase scarcity and drive up demand. However, as the burn rate continues to rise, it remains to be seen how other meme coins will respond and what implications this development will have for their value and long-term viability.

Interestingly, there is an emerging memecoin with a similar deflationary model that has been generating significant buzz in the crypto market: Pikamoon.

Pikamoon (PIKA) is Set to Dominate and Yield Insane Profits

Pikamoon (PIKA) is a groundbreaking project that aims to revolutionise the GameFi world. At its core is Pikamoon Adventure, an exciting metaverse game set in the Pikaverse. Gamers can earn valuable rewards, such as NFTs and $PIKA tokens, by engaging in various in-game activities and trading assets on the marketplace. This play-to-earn model presents a unique opportunity for both gamers and investors.

Pikamoon stands out with its innovative features and advanced technologies, positioning it for potential success similar to the meteoric rise of $SHIB in 2021. The project has the potential to transform not only the meme coin sector but also the entire crypto market. With Pikamoon, the future of gaming and crypto is looking brighter than ever.

Next-Level Gameplay

Building the Pikaverse in Unreal Engine 5, the world's most advanced real-time 3D creation tool, allows Pikamoon Adventure to deliver superior photorealistic visuals and immersion in its gameplay. This makes the game more enticing to gamers, increasing the demand and value of the in-game token ($PIKA), and fostering growth.

Deflationary Token

$PIKA’s status as one of the fastest-growing GameFi tokens in the crypto space is due to the combination of its deflationary nature and several utilities. This deflationary token serves as the project's utility token, the reward token for players, and the payment token on the in-game marketplace. 

These multiple use cases boost the token's demand and value, getting it poised for rocketing profits.

Supported by a Vibrant Community

Like Shiba Inu, Pikamoon (PIKA) enjoys support from a community of popular crypto investors, whales, and analysts. These elites know it's on course to hit the moon and can see the potential as it gets ready for huge gains.

Pikamoon’s Presale

Pikamoon has become a hot topic in the crypto market, attracting attention during its presale phases amid the memecoin craze. Early investors have already enjoyed significant gains, with a 100% price increase to $0.0004.

As the presale progresses, PIKA is expected to reach even higher levels, aiming for at least $0.0006 by the final phase. Experts have even predicted an astonishing 5,000% ROI for $PIKA before the end of 2023, positioning PIKA as one of the most profitable investments this year. Invest in $PIKA today and ride the wave of potential profits.


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Disclaimer : The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.



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