by Analytics Insight
Apr 20, 2022
EverGrow Coins are putting stiff competition to Shiba Inu as both are recovering from a market downturn.
Shiba Inu and EverGrow Coin have recovered from a sudden market drop in April 2022. But while Shiba Inu is up 3.5% in the past 24 hours, EverGrow Coin wins more than 3x faster.
Shiba Inu burn rate has grown rapidly with $159 million SHIB tokens burned yesterday, according to shibburn.com† However, the burn rate is nothing like EverGrow Coin, whose chairman Sam Kelly recently announced coins are burning at the rate of $5 trillion ECG tokens per month.
Both projects have a total supply of 1,000,000,000,000,000,000 tokens, so EverGrow Coin’s price is expected to explode in 2022.
Read more about why these crypto projects are growing so fast in price:
EverGrow Coin gets DigiFinex listing
Earlier this month, EverGrow Coin was featured on the huge DigiFinex exchange – in the top 10 in the world for daily trading volume. The listing saw daily trading volumes skyrocket from between $500,000 and $1,000,000 to over $3,000,000 yesterday, according to CoinMarketCap†
EverGrow Coin’s price is currently $0.0000004111, but it is much higher on the DigiFinex platform, suggesting that the demand for this popular reflection token is soaring. EverGrow Coin has grown 10% in the last 24 hours due to volume.
The demand for EverGrow Coin is linked to the built-in coin-burning mechanism called Redemption and Burning (BB+B). EverGrow Coin charges a transaction tax of 14% and 2% set aside to buy EGC strategically and then burn those coins. It means that with a daily volume of $3 million, there is $60,000 available every day for strategic burns – compare this to Shiba Inu, where investors take it upon themselves to burn their own assets.
Shiba Inu Sees Ethereum Whale Buying $223 Billion
Shiba Inu is up 3.5% in the past 24 hours, according to CoinMarketCap† The price hike is linked to a massive purchase of 223.7 billion Shiba Inu tokens (worth about $5.78 million) worth of whales.
According to Whale Statistics this makes Shiba Inu the main token of Ethereum whales, with $1.6 billion invested in $SHIB. This is $0.4 billion more than the second top token – $FTX.
Shiba Inu also saw rapid price increases after it was listed on the Robinhood brokerage platform last week. However, Shiba Inu is down more than 10% so far. In fact, the price of Shiba Inu has fallen sharply from its all-time high of $0.00008845 in November, to $0.000025 today.
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Analytics Insight is an influential platform dedicated to insights, trends and opinions from the world of data-driven technologies. It tracks the developments, recognition and performance of companies in the fields of artificial intelligence, big data and analytics around the world.
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