Speculations from inside sources suggest that the $SHIB developers team is set to remove about 9.25 trillion of the token from circulation. This implies that the $SHIB total supply will reduce again, and it could spike the meme coin's value. The speculated token burn won't be the first, but it could be the first done automatically, as others have been manual. This may result in more impactful results than previous times. 

While $SHIB isn't among the top 5 cryptocurrencies with high-profit potential, the expected token burn makes it a strong investment consideration, as it may be a catalyst to a rally. $GFOX is another memecoin generating a lot of hype recently – and for good reason. The budding token is having an impressive ICO, and it's sure to be a top memecoin in the market. 

$GFOX Turns Heads With Impressive Presale Run

Galaxy Fox is having the best meme ICO this year, and it hasn't gone unnoticed. The budding meme coin has raised close to $2.5 million on presale and sold more than 90% of its allocated value. This reflects the growing trust and acceptance $GFOX currently enjoys. Top investors are taking cognizance of the meme coin now due to the prospect shown on presale. They believe the meme coin is among the top 5 cryptocurrencies to purchase currently and are patient enough for long-term returns. 

$GFOX has what it takes to live up to expectations. It is an essential token in the Galaxy Fox ecosystem, and it aims to extend its utility to the web3 sector in general. This will make the budding token prominent and increase its propensity to boom. The ERC-20 coin will have a deflationary feature. This means part of the token supply will go out of circulation periodically, creating scarcity and causing the value to rise. 

Galaxy Fox will combine the positives of the meme sector with that of GameFi, making it a meme coin with promising prospects. $GFOX is halfway through its presale and has impressed many observers. The fox-themed token has raised about $2.5 million and may be sold out soon. Hence, proactive investors looking to own a  part of $ GFOX's remaining 1+ million presale tokens must act fast. 

Beyond the imminent sold-out, the presale tokens' price will increase in the next stage. Currently, $GFOX presale token sells at $0.001749, but it will rise to $0.00198 by the seventh (7th) stage. This is another  reason why being proactive on the decision to join the presale is advisable. $GFOX is prepared to enjoy a successful post-ICO launch if the meme sector witnesses expected growth and GameFi profitability improves. 

Can $SHIB Token Burn Inspire Positive Price Action? 

$SHIB developers are constantly trying to bring the meme coin's glory days back. $SHIB has struggled recently, and developers hope to restore its profitability. The meme coin had high-profit potential, as it was tipped to be the "Dogekiller" on its launch. However, $SHIB was never able to topple $DOGE; instead, it maintained its position as the second most valuable memecoin by market capitalization. 

$SHIB's struggle in the crypto market recently has been disappointing. It's one of the top 5 cryptocurrencies experiencing a double-digit decline. This is why $SHIB developers are attempting to restore the meme coin's profitability. Token burn has been one of the go-to strategies. About 9.52 trillion out of $SHIB's 589,544,082,435,685 circulating volume will be out of circulation. Amongst other things, it could help the meme coin find its momentum, bringing positive price action. 

$SHIB remains in the top 20 crypto ranking by market capitalization, even though its run hasn't been impressive. However, experts believe the various developmental efforts by its developers could change its current trajectory, placing it on course for a bullish rally.

Conclusion 

Token burns make crypto tokens more scarce and valuable. It's one of the strategies many developers teams employ to protect their token's value, and $SHIB has already seen numerous major token burns. Market observers hope the large volume of this expected burn could impact $SHIB positively. $GFOX is another meme coin that will experience periodic burns as its development continues. The buzzing ERC-20 coin is well-positioned to be a high-performing token. It is among the top 5 cryptocurrencies to watch out for currently, especially in the presale stage when opportunity is at its highest. 

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