• Shiba Inu has burned millions of its SHIB tokens in an attempt to increase the price, but it hasn’t been a successful approach.
• Metacade is a newer project that offers more utility and potential for gains than Shiba Inu.
• The Metacade presale has already raised $5.4m, showing the potential success of this project.
What is Shiba Inu (SHIB)?
Shiba Inu is a meme coin project on the Ethereum blockchain, having followed in the footsteps of Dogecoin as a popular cryptocurrency meme coin with a large circulating supply. It was founded by Vitalik Buterin in 2021 and has seen more than 380 billion SHIB tokens burned since then in an effort to induce a rally in price.
Token Burning as Price Inducer
Burning tokens can be an effective way to increase token prices because it reduces the circulating supply and transfers value to those tokens that remain. This is one approach taken by the Shiba Inu project which has so far not led to any significant increases in price despite its quadrillion total supply.
Metacade: A High-Potential Project
There are some incredible new projects offering huge potential for investors, such as Metacade which offers high levels of utility through its token economy and platform usage fueled by them. The presale for Metacade has already raised $5.4m at record speed, showing how much potential many believe it holds for substantial gains going forward.
Why Is Metacade More Promising?
Meme coins like Shiba Inu have difficulty finding buyers due to their lack of progress in their ecosystems and limited utility, whereas projects such as Metacade have grand ambitions combined with high-utility tokens that can drive up their price even when traditional markets are struggling.
In conclusion, while burning tokens can be an effective way to induce growth, it hasn’t had much effect on Shiba Inu’s price prediction due to its large total supply and lack of progress made within its ecosystem. Projects like Metacade offer far greater potential through their ambitious plans and platforms powered by high-utility tokens that could see huge returns over time – making them great investments right now!