Can you smell that? Not what the Rock is cooking, but it smells like… burning.
In this article, I will be looking at Shiba Inu, its reported increase in burned tokens and what this might mean, and a new meme coin, Rocketize (JATO).
Shiba Inu: Burn Baby Burn
Shiba Inu (SHIB) is one of the most popular meme coins on the market. At the time of writing, it sits at the number 13 spot of the most popular cryptocurrencies on CoinMarketCap. Shiba Inu rose to prominence as 50% of its tokens were donated to Ethereum founder Vitalik Buterin, to which he refused and burned the majority of his tokens. Tokens are ‘burned’ when they are taken out of circulation – usually through sending to a dead address. But why would burning these tokens send the price skyrocketing? This is because due to a drastic reduction in supply, the price increased rapidly. Early adopters of Shiba Inu have seen mind-bending gains of 14,044,998%. Being an early investor in meme coins can pay off.
In the past 24 hours at the time of writing the burn rate of Shiba Inu has leapt a jaw-dropping 506.61%. This is according to Shibburn, a website focused on tracking the amount of Shiba Inu that has been burned. This is equivalent to 31,076,547 tokens removed from the circulating supply, and 26,772,703 sent to a dead wallet in a single transaction. The address to the majority of Shiba Inu is sent to be burned is the same one that Buterin sent his tokens to “0xdead000000000000000042069420694206942069”. If the burn rate of Shiba Inu is increasing, then its price is also very likely to increase.
Rocketize: Black Friday Booster
We’ve seen from Shiba Inu (SHB) how much you can reap from being an early investor in meme coins. Don’t miss out on the next opportunity to secure some astronomical gains, with the new meme coin Rocketize (JATO). What makes Rocketize a great asset to invest in, is that it is a deflationary asset like Bitcoin (BTC). Unlike Dogecoin (DOGE) which is an inflationary asset and Shiba Inu (SHIB) which does not have an in-built burning mechanism, Rocketize has a 2% tax which redistributes a portion to the total wallet holders and a portion to a dedicated burn wallet. This allows a more equal distribution of tokens within the community and allows the price of Rocketize to increase over time.
Rocketize is having a Black Friday sale, with 50% bonus tokens available with each purchase. Don’t miss out!
As Shiba Inu (SHIB) looks to rise in price with an increase in burned tokens, many investors may look to enter in as the price is low right now. Prices are also extremely low with new meme coins with ample potential like Rocketize (JATO). As it is still in pre-sale, the potential gains you can get are incredible. The Black Friday deal is for 24 hours only! It is an incredible opportunity not to be missed. Happy investing!
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