Shiba Inu never fails to surprise investors with ingenious methods to give high crypto returns. You'd need to be crazy (or a YouTuber) to burn dollar bills in the belief it will make you rich. But coin burns are exactly how cryptos like Shiba Inu and EverGrow Coin plan to give the highest returns in 2022.
Shiba Inu became a household name in the world of investing after it rocketed 46,000,000% throughout last year. The rise in Shiba Inu price was thanks to huge investment into the meme-related cryptocurrency – but not everyone knows the role the Shiba Inu burn rate played in this.
EverGrow Coin has built coin burns into its core utility, making it one of the top cryptos to give high returns in 2022 alongside Shiba Inu.
EverGrow Coin is a hyper-deflationary token according to its whitepaper. This means the 1,000,000,000,000,000 EverGrow Coin tokens in circulation at launch in September last year will continue to reduce in number. As the EGC token supply reduces, the price of EverGrow Coin will rise.
So how does EverGrow Coin plan to burn EGC tokens? The project has up to 10 different revenue streams that will finance a mechanism called buyback & burn. Using this revenue, the team of top investment experts chooses a strategic moment each month to burn a large amount of EGC tokens and remove them permanently from the supply.
So far, in just six months EverGrow Coin has burned over 52.85% of its initial supply – according to bscscan.com. This has been financed by 2% from a 14% tax on EverGrow Coin transactions.
But 2022 is expected to be a breakout year for EverGrow Coin as it begins financing further coin burns through methods that include: profits from a sale of 15,000 unique NFTs, profits from an NFT marketplace on the Binance Smart Chain, profits from a content subscription platform (Crator), profits from a metaverse integration with The Abstract virtual reality gaming arcade streamed on the cloud.
The EverGrow Coin price is currently $0.000000504 and is up 8% in the last 24 hours.
The price of Shiba Inu rocketed up between April and May last year, as its market cap shot from mere thousands of dollars to $13 billion. The rise was linked to mass adoption as well as a huge coin burn of 41% of the Shiba Inu supply.
Shiba Inu coin burns have since been tipped as one of the best methods to boost the Shiba Inu price – for example, you can check out the daily coin burning total over at shibburn.com.
This April the Shiba Inu team partnered up with the Ryoshis Vision decentralised finance project to offer passive income rewards to investors who burn their Shiba Inu tokens. Using the ShibaBurn website investors can burn Shiba Inu tokens and receive burntSHIB tokens, which payout RYOSHI token rewards at a variable rate.
According to the website, as of April 25, some 11 billion Shiba Inu tokens have been burnt since the application launched.
The Shiba Inu price is currently at $0.00002281 and is down 5% in the last 24 hours.
Disclaimer: The information provided in this article is solely the author's opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.