Shiba Inu fans are excited for the launch of Shiba Eternity, set for release on October 6th.
But ETH whales are also adding SHIB to their stacks to take advantage of price movements and capitalise on any gains.
Investors only need to look to September 18th to see what could be round the corner.
Shiba Inu fell -11% the day after Shiba Eternity launched in Australia. The sell-off continued until SHIB had fallen -25% over the whole week. It was a blow for any investors hoping the Shiba Inu game would lead to Shiba Inu profits.
Crucially, nobody knows just how Shiba Eternity will lead to SHIB buys or SHIB burns.
Enter EverGrow.
This new BNB Chain token launched 12 months ago with a plan to take all that's great about Shiba Inu and make it better and for the benefit of smaller investors and whale investors alike.
How does EverGrow do this?
Let's look at the details below.
The EverGrow burn address contains 53% of initial supply in just 12 months of launching.
Meanwhile, the Shiba Inu burn address still contains 41%. It's the same amount that Vitalik Buterin destroyed with his historic SHIB burn in May last year.
It means that in 18 months, Shiba Inu burns have not increased the address by even 1%.
How does EverGrow burn so many coins?
It's to do with a transaction tax. The total tax is 14%, with the majority set aside for stablecoin rewards (see below) and 2% set aside to buyback and burn $EGC tokens. This tax alone has burned through 53% of the initial EverGrow supply.
The key difference is that Shiba Inu investors must either burn their own portfolios, or burn SHIB with a % of profits in a project.
EverGrow makes token burning fair and automatic.
Shiba Inu passive income gained a lot of hype in May with the launch of the ShibaSwap burn portal.
Fast forward a few months, and even the Shiba Inu lead developer team had to distance themself from the failings and disappointment of Shiba Inu passive income.
Not so with EverGrow.
A total of 8% of each transaction is set aside for BUSD rewards. They're distributed to all holders depending on the size of their position. It not only helps to create a source of passive income for holders but also means you take some earnings even when the market crashes both buy and sell transactions have to pay the transaction tax.
With a proven track record, EverGrow is launching an ecosystem to build even bigger.
The first application, LunaSky NFT marketplace, launched on September 26th. It's the world's first NFT marketplace to send 100% of revenue back to holders. It does this by using 100% of revenue to buy back EverGrow tokens and send them to the burn wallet.
Along with the sales of an in-house NFT collection, more than $217,000 was raised in the first five days of launch.
If this amount burned was used to burn Shiba Inu tokens, it would only burn 0.0035% of circulating tokens. But with EverGrow the amount will burn 0.3% of circulating tokens. The effect will be felt much more in the price charts because EverGrow is still a small cryptocurrency with a market cap of $72 million.
With a strong roadmap, winning track record and lucrative ecosystem, EverGrow won't remain a small cap cryptocurrency for long.
If you invest in EverGrow instead of Shiba Inu you could well be buying up a rival that will easily beat SHIB on price gains and passive income before 2022 is out.
EverGrow website: https://evergrowegc.com/
Lucro token website: https://lucrotoken.com/
EverGrow Twitter: https://twitter.com/evergrowcoinEGC
Lucro Twitter: https://twitter.com/lucrotoken
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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.