EverGrow Coin has burnt tokens more than the Shiba Inu burn rate in 2022

Burning Shiba Inu tokens is seen as the best way to boost its price – but while supporters have burned about 0.03% of supply in a year, EverGrow Coin has burned 52.85% of its supply in just 5 months. 

EverGrow Coin is fast attracting attention for built-in mechanisms that perform far above the Shiba Inu burn rate. Even better, while Shiba Inu followers take it upon themselves to conduct regular coin burns (they've burned 41.03% Shiba Inu so far) EverGrow Coin does this automatically.

Figures from Shibburn.com show the Shiba Inu burn rate is up 700% in the last 24 hours with 162,854,653 $SHIB tokens burnt. Meanwhile, the most recent movement in the EverGrow Coin burn address on bscscan.com shows 76,142,170,738 $EGC tokens burnt in a single transaction.

With both projects having a similar total supply (1,000,000,000,000,000 $EGC vs 999,991,669,384,079 $SHIB) it's an impressive burn rate that will see EverGrow Coin reach $1 far before Shiba Inu.

Why EverGrow Coin will continue to outperform the Shiba Inu burn rate

The power of EverGrow Coin is that coin burning is built into the project's entire roadmap. Contrast this with Shiba Inu, whose followers only began burning coins after the Ethereum co-founder Vitalik Buterin burnt 41% of the total supply in May last year. (To date, Shiba Inu fans can only burn tokens by sending them to Vitalik Buterin's wallet address, and they've burnt 0.03% of supply since then.)

EverGrow Coin however conducts coin burns automatically. To date, this is mainly achieved through the 14% transaction tax on all EverGrow Coin buy/sell orders, of which 2-3% is set aside for strategic coin burns. Smart contracts execute the coin burn once a month. 

But EverGrow Coin will roll out at least 10 different revenue streams for strategic coin burns throughout 2022. This includes profits from the content subscription platform Crator, an NFT marketplace on the Binance Smart Chain, The Abstract virtual reality metaverse, as well as upcoming drops of an EverGrow Exchange and EverGrow Wallet. 

The Shiba Inu burn rate meanwhile is growing steadily but lacks centralised oversight. There are innovative mechanisms like the Shiba Inu Coffee Company (which burns $SHIB tokens with profits) but as these collectively have only achieved 0.03% of supply in a year Shiba Inu still has a long road to reach $1 in price.

EverGrow Coin investors earn passive income while waiting for the burn rate to increase 

The innovative EverGrow Coin burning mechanism – called buyback and burn, or BB+B – is not its only attractive feature. EverGrow Coin investors also benefit from BUSD stable coin rewards while they wait for the $EGC price to grow. To date, the project has paid over $36 million in BUSD since launching in September last year, according to the EverGrow Coin dashboard.

Of course, this is modest compared to Shiba Inu's meteoric rise from a market cap of a few thousand dollars in May last year to $14 billion within weeks. But it's worth remembering that Shiba Inu's huge success was attributed to a Vitalik Buterin's single coin burn of 41% of the Shiba Inu total supply. 

It's unlikely that Shiba Inu will see such a high burn rate again. It will take hugely altruistic Shiba Inu whales to sell off all their supply, or incredibly innovative burning mechanisms to see the Shiba Inu burn rate take off in 2022. 

That's why EverGrow Coin has become so popular in recent months, as a token that can beat Shiba Inu's burn rate automatically, without investors so much as opening their digital wallet.

Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.