The Shiba Inu (SHIB) community is recording a remarkable 1,190% growth in the burn rate, which is attributed to exceptionally intense token burning activities. According to Shibburn data, 44 million SHIB tokens were burnt in one day, and two immense transactions were made on that day: one for roughly 20.8 million SHIB tokens, and another for approximately 20.5 million.
As for the members of the memecoin ecosystem, there is growing interest in ChowWow ($CHOW), one of the new crypto ICOs. A lot of analysts have pointed out that $CHOW could become a top memecoin on the Solana blockchain, and so there is an expectation that its price will increase significantly. During the first presale phase, CHOW is being sold for $0.008, but there are some who think that it might be possible for CHOW to go 100x more.
Let’s dive into how these developments might shape the future of both tokens.
Shiba Inu (SHIB) Burns Surge 1,190% Amid Unusual Whale Activity
Based on figures released by public blockchain tracker Shibburn, the SHIB community has been burning their memecoins quite actively in recent days, thus driving the burn rate higher. Shibburn data source revealed tens of millions of SHIB have been moved to unspendable blockchain wallets in the past few days. Two anonymous whales carried 20,809,760 and 20,490,768 in the two biggest burn trades.
Overall, since 2021, 410,744,479,788,339 SHIB have been destroyed by the combined efforts of the Shiba Inu community and the group that developed this memecoin under the leadership of Ryoshi. This has been made possible in significant part by Ethereum cofounder Vitalik Buterin. Ryoshi handed him half of the original quadrillion SHIB supply in May 2021. Still, Buterin burned almost all of it because he didn’t think SHIB had much potential and didn’t want to handle so much cryptocurrency.
ChowWow ($CHOW) Gains Momentum as Top Crypto ICO Project
One of the emerging crypto ICOs attracting investors’ attention is ChowWow. Unlike Shiba Inu, its model has a vision and strong tokenomics. It is meant to be enjoyable, rewarding, and community-oriented. Interest is high among presale investors, and it looks promising. ChowWow is built on the Solana blockchain, which allows for fast and cheap transactions.
Solana’s technology is reliable for ChowWow’s users since it guarantees safe and easy trading. One of its most notable features is ChowWow’s play-to-earn model. Players in the ChowWow gaming kingdom can earn tokens that can be converted to real-world value or in-game purchases. Given that 10% of the supply is allocated for gaming rewards, ChowWow makes a good crypto investment for the players.
Being in presale makes it a good crypto investment for smaller and larger token holders, and the $0.008 price per token is very inviting. This gives investors the chance to invest in this crypto platform while it’s still new. Also, ChowWow has a stake-to-earn feature that allows users to stake their tokens in return for rewards. Based on how long tokens are staked, the rewards are between 8%-15% a year.
This ensures sustained commitment from investors while encouraging long-term investment. $CHOW is specifically designed to get the attention of its users. It uses social media to organize meme competitions, events, and airdrops as a means to promote user engagement. At launch, 5% of the total tokens are reserved for rewards and airdrops.
It is a potential top memecoin option because it combines gameplay, staking, and a vibrant community. ChowWow is emerging as the next major name in the memecoin space.
Conclusion
The SHIB’s burn rate surge highlights the community’s ongoing efforts to reduce supply and potentially boost its value. Meanwhile, the ChowWow project has a better percentage growth trajectory for investors. Also, ChowWow’s ecosystem offers more utility than Shiba Inu, which might help the $CHOW token rank among the top 200 cryptocurrency assets sooner than expected.
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