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Shiba Inu And Evergrow Coin Burn Billions to Reach the Top

Shiba Inu And Evergrow Coin Burn Billions to Reach the Top
Shiba Inu And Evergrow Coin Burn Billions to Reach the Top

Shiba Inu and EverGrow Coin are predicted to rise rapidly in value this April 2022 as both tokens burn billions of their crypto tokens

Almost 1.2 billion Shiba tokens were burned this past week. The burn included a single coin burn of 159 million–which totals about $30,000. There have been several cases of people burning coins of the Shiba Inu cryptocurrency to make it seem more valuable. The trend follows the act by Ethereum co-founder who burnt 41% of all Shiba Inu coins in May last year. As a result, the market cap rose rapidly and reached $14 billion in a few days.

EverGrow Coin is unlike Shiba Inu, which has burned 52.85% of its supply. In fact, EverGrow Coin actually has a built-in mechanism to buy back $EGC tokens from the open market. And, then burn them permanently from the supply.

5 trillion EverGrow Coin are going to be burned every month.

EverGrow Coin chairman Sam Kelly states that the project will continue burning over $5 trillion worth of $EGC every month. Evergrow Coin has been among the coins that have skyrocketed following a listing on DigiFinex and the 14% transaction tax applied to their coins. This makes it the top reflection token on Binance Smart Chain and one of the leaders in the hyper-deflationary kind of crypto tokens.

For every buy/sell transaction, EverGrow Coin will put 2% aside each month. This goes to buying up $EGC tokens from the market and removing them permanently from the supply (buyback and burn). When Sam Kelly mentioned “coin burning,” he was referring to the strategy of manipulatively inflating the price of EverGrow Coins. The coin burner does so by placing huge buy orders into exchanges like on PooCoin. Therefore, people think it is valuable and there are no immediate losses. 

EverGrow Coin has burned 11% more tokens from their supply than Shiba Inu. And, with their roadmap nearing completion in the next month, you can expect a lot more burned.  Approximately, $2 million should be collected via buybacks & burning by April 2022.

It is predicted that the use of Shiba Inu as a currency will grow significantly by 2022.

Shibburn.com says that there are 1.4 billion tokens burned in the last week. It will make more SHIB available to users and who knows maybe it’ll reach $1 in the future!

This only adds to the 313 billion tokens burned in the last year. Despite that, it’s worth noting that EverGrow Coin can burn 5 trillion tokens every month. It is because of its built-in mechanism to burn coins and remove them from circulation. In contrast, all Shiba Inu transactions are funded from the pockets of the investor.

Considering that SHIB’s strength index has fallen below 50, it seems like coin burn is the best option. A decrease in the number of coins will surely result in an increase in demand.

Final thoughts

Coin burning is an important built-in feature of deflationary tokes like EverGrow. For other tokens like Shiba Inu, it takes the buyer’s money to do the same. However, both coins will burn their token in April 2022, so let’s see which one comes out on the top.

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Disclaimer

Any references on this website or blog are an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

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