EverGrow Coin Burned Tokens More Than Shiba Inu Burn Rate In 2022
Burning Shiba Inu tokens is seen as the best way to increase the price – but while supporters have burned about 0.03% of the supply in a year, EverGrow Coin burned 52.85% of its stock in just 5 months.
EverGrow Coin is quickly drawing attention to built-in mechanisms that perform well above the Shiba Inu burn rate. In fact, while Shiba Inu followers take it upon themselves to burn coins regularly (they have burned 41.03% Shiba Inu so far), EverGrow Coin does this automatically.
Figures from Shibburn.com shows that the Shiba Inu burn rate has increased by 700% in the last 24 hours with 162,854,653 $SHIB tokens burned. Meanwhile, the most recent move in EverGrow Coin address is at bscscan.com shows 76,142,170,738 $EGC tokens burned in one transaction.
With both projects having a similar total inventory ($1,000,000,000,000,000 EGC vs $999,91,669,384,079 $SHIB) it’s an impressive burn rate that will see EverGrow Coin hit $1 way ahead of Shiba Inu.
Why EverGrow Coin Will Continue To Outperform Shiba Inu Burn Rate?
The strength of EverGrow Coin is that coin-burning is built into the entire project roadmap. Compare this with Shiba Inu, whose followers only started burning coins after Ethereum co-founder Vitalik Buterin burned 41% of the total stock last May. (To date, Shiba Inu fans can only burn tokens by sending them to Vitalik Buterin’s wallet address, and since then they’ve burned 0.03% of the stock.)
However, EverGrow Coin performs coin burning automatically. To date, this has mainly been achieved by the 14% transaction tax on all EverGrow Coin buy/sell orders, of which 2-3% is reserved for strategic coin burns. Smart contracts run the coin burn once a month.
But at least EverGrow Coin is being rolled out 10 different income streams for strategic coin burns throughout 2022. This includes profits from the content subscription platform cratera NFT Marketplace on the Binance Smart Chain, The abstract virtual reality metaverse, as well as upcoming drops from an EverGrow Exchange and EverGrow Wallet.
Shiba Inu’s burn rate, meanwhile, is steadily growing, but there is no centralized oversight. There are innovative mechanisms such as the Shiba Inu Coffee Company (which burns $SHIB tokens at a profit), but since these combined have only reached 0.03% of the supply in a year, Shiba Inu still has a long way to go to reach $1 in price.
EverGrow Coin Investors Earn Passive Income As They Wait For The Burn Speed To Increase
The innovative EverGrow Coin combustion mechanism – called buyback and burn or BB+B – is not the only attractive feature. EverGrow Coin investors are also benefiting from BUSD stable coin rewards as they wait for the $EGC price to rise. To date, the project has paid more than $36 million in BUSD since its launch last September, according to the EverGrow Coin Dashboard†
This is, of course, modest compared to Shiba Inu’s rapid rise from a market cap from a few thousand dollars in May last year to $14 billion in a matter of weeks. But it is worth remembering that the huge success of Shiba Inu was attributed to a single coin burning of Vitalik Buterin of 41% of the total stock of Shiba Inu.
It is unlikely that Shiba Inu will see such a high burn rate again. It will take hugely altruistic Shiba Inu whales to sell all their stock, or incredibly innovative combustion mechanisms to see the Shiba Inu burn rate increase in 2022.
That is why EverGrow Coin has become so popular in recent months, as a token that can automatically beat the burning speed of Shiba Inu, without the need for investors to open their digital wallets.
Disclaimer: The information in the article is for educational purposes only. By using this, you agree that the information does not constitute investment or financial advice. Do your own research and check with financial advisors before making any investment decisions.
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