Bullish Run on SHIB Price as Burn Rate Spikes!
The SHIB token, powered by Shiba Inu (‘SHIB’) – the meme-based cryptocurrency, has been on quite a bull-run recently! Prices surged by a staggering 20%, prompting investors and analysts alike to stand up and take notice.
But the spectacular SHIB growth doesn’t end there; in slightly more worrying news, the burn rate – which measures the daily number of tokens destroyed – also spiked by 613%, as of the time of writing. So what does this mean for this burgeoning cryptocurrency? We take a closer look.
The Basics of SHIB
SHIB token is the world’s first deflationary cryptocurrency, representing the Shiba Inu meme. It was created as an act of rebellion against some of the large corporate-backed cryptocurrencies, particularly Dogecoin, but it has quickly become one of the most popular digital tokens in the space due to its low transaction fees and awesome name.
The Mechanisms of SHIB
SHIB is a unique token. It has three mechanisms built into it that make it stand out amongst its peers:
- First is an ERC-20 tokenomics model, which is the same as that of Dogecoin, meaning that a certain amount of tokens are created each day and burned each day.
- Second is the One-Fifty model, which ensures that at least 150 SHIB tokens are burned for every transaction.
- Third is the ‘Walter White’ model, which states that the hash rate used for mining increases the tokenomics automatically.
The idea behind the SHIB tokenomics is to continually devalue the token, thus creating an incentive to buy now rather than later.
The Explosion of SHIB
The recent explosion of SHIB’s price and its massive 613% surge in burn rate has been a pleasant surprise to investors, and to many a confirmation that the SHIB isn’t just a passing fad. With continued ROI of around 10%, SHIB is proving to be a safe and sound investment.
The meme-based cryptocurrency is expected to continue its upward trajectory in the near future. With its novel deflationary tokenomics model, SHIB stands out amongst its peers and gives investors the opportunity to make huge gains.
So why wait? Get your SHIBs now and join in the fun!
