Tokenomics of a project is the first clue about the power of a crypto project. Good tokenomics reflect a successful project, as can be seen in the success stories of Bitcoin (BTC) and Shiba Inu (SHIB).
DogeMiyagi (MIYAGI), a new meme coin in presale, is following the model set by BTC and SHIB by creating a limited supply token with an interesting burn strategy. This article will look at the tokenomics of BTC, SHIB and MIYAGI to gain an understanding of what makes these projects special.
Bitcoin – The Most Powerful Cryptocurrency
Bitcoin, the first and most renowned cryptocurrency, operates on a different level compared to DogeMiyagi. As a decentralised digital currency, Bitcoin’s token economics focus on limited supply, scarcity, and decentralisation. With a fixed maximum supply of 21 million coins, Bitcoin seeks to curb inflation and establish itself as a store of value.
Bitcoin’s network relies on a consensus algorithm called Proof-of-Work (PoW) to validate transactions and maintain the integrity of the blockchain. The PoW architecture allows new BTCs to be mined at a fixed rate. The mining rate of BTC is programmed to halve until the total supply of BTC is mined. The limited supply and increasing adoption, and global recognition have propelled Bitcoin’s value over the years, making it a favourite among long-term investors.
Shiba Inu: The Challenger for the Meme Coin Throne
Shiba Inu positions itself as the “Dogecoin killer” and aims to emulate the success of its main rival. The token, true to meme coin fashion, has a large supply to ensure a democratic supply of SHIB. The token stands 15th in the market cap rankings with a market capitalisation of over $5 billion.
Shiba Inu has a large total supply, with one quadrillion of tokens in circulation. SHIB is deflationary in nature and has a burn system to maintain its scarcity, thus helping the network to maintain the token’s price. SHIB is pivoted to be a utility-driven token with an increasing number of services now accepting payments in SHIB.
DogeMiyagi: The Future of Meme Coins
DogeMiyagi, built on the Ethereum blockchain, stands apart from the crowd with its community-centric ethos. The network plans to become a full DAO network after launch. With the plan to be a DAO, DogeMiyagi aims to involve its community in its decision-making process. This decentralized approach ensures that the power lies in the hands of token holders, fostering a sense of ownership and inclusivity.
Tokenomics-wise, MIYAGI will serve as the network’s native token. The token will power NFTs within the network and will also serve as the reward for the platform’s daily incentive schemes. With a total supply of over 96 billion tokens and a significant burn of 96,182,996,300,000 tokens, DogeMiyagi aims to create scarcity, potentially driving demand and value appreciation.
The Last Word
Bitcoin’s tokenomics have made it the apex crypto it is today. Likewise, Shiba Inu’s tokenomics of a large supply balanced with a significant burn rate has made it a favourite among meme coin enthusiasts. DogeMiyagi’s tokenomics incorporating a burn and comparatively limited supply will potentially give it an edge over its peers.
Click To Know More About Mr DogeMiyagi:
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi
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