Shiba Inu dominated the memecoin market in 2023. The number two memecoin hit several new milestones, including the release of Shibarium and Shib Magazine, a magazine dedicated to the Shiba Inu ecosystem. Now, following new announcements from Shytoshi Kusama, experts believe that Shiba Inu’s value will hit an all-time high within the next year.
Shiba Inu Burn Rate Increases 161,540% Overnight
Recent data from the Shibbrun wallet tracker has shocked the Shiba Inu community. In just 24 hours, the Shiba Inu burn rate increased by 161,540%, with over 8.5 billion SHIB tokens being burned. This increase in token burning has triggered a 2.5% rise in Shiba Inu’s price, which is currently $0.00001062.
While headlines focus on the increased burn rate, Shiba Inu’s Shibarium has also hit a new record. On December 22nd, Shibarium passed 160,000,000 transactions, with 7.8 million transactions being processed daily. This milestone is a sign of how fast the Shiba Inu ecosystem is growing and has many investors feeling bullish towards the memecoin.
In addition to new milestones, Shiba Inu’s lead developer Shytoshi Kusama, also announced a new collaboration with D3. This collaboration will help Shiba Inu move into the domain market, with .shib domains looking to be issued as early as February 2024. This development is a huge win for Shiba Inu, and the project’s market cap has increased to $6.28B.
As Shiba Inu continues to grow its ecosystem, market analysts believe that a new all-time high is growing closer. Should Shiba Inu replicate this year’s success in 2024, bullish experts predict that it could pass its former all-time high of $0.00008845 by Q4, offering huge returns for current SHIB token holders.
Could This New Memecoin Offer An Alternative To Shiba Inu
Having recently experienced a price surge, some experts believe that it could be too late to capitalize on Shiba Inu. As a result, new memecoins like Meme Moguls could be more profitable investments.
Meme Moguls is a new play-to-earn ecosystem where players can learn about investing. The project empowers its community by giving players the opportunity to build new income streams, network with other investors, and gain a stronger understanding of the investment landscape.
To start, Meme Moguls will give investors $100,000 in virtual currency to invest in a stock market. To simulate real-world investing, just 20% of an investor’s portfolio can be made in a single investment. This simulated investing will give players the opportunity to learn about investing without needing to use their own money.
The idea behind Meme Moguls has already proven to be extremely popular throughout the memecoin community. The project has quickly raised $715,000 during its presale, and its token value has increased from $0.0019 to $0.0023.
During its presale, Meme Moguls will sell 60% of its token supply. 8% of the supply will be held for team tokens and locked for 2 years and token liquidity will be locked for 5 years to prevent a rug pull. Furthermore, the project has been fully vetted to guarantee investor safety.
With stage two of the presale looking to sell out soon, investors are stacking $MGLS tokens to maximize their returns in 2024.
Learn more about the $MGLS here:
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