In 2023, the cryptocurrency market offered a challenging yet potentially lucrative landscape for memecoins.
After the initial crypto boost of early 2023, mainstream tokens like Bitcoin and Ethereum stagnated due to the highly negative cloud of regulatory pressure that hovered over the market.
From that moment on, investors opted to diversify their wallets more, in search of more volatile and potentially profitable tokens. This mixture of developments caused memecoins to go through a boost in popularity over the course of the year.
Leading meme tokens like dogecoin saw a drastic increase in trading volume, mostly thanks to Elon Musk’s actions as Twitter CEO, while new tokens like Golden Inu gained an incredible amount of momentum around the middle of the year.
In addition, the landscape was also poised to provide even further excitement with the launch of Shiba Inu’s layer-2 blockchain, Shibarium.
When comparing Golden Inu’s unparalleled growth with Shiba Inu’s expanding ecosystem, investors saw two tokens competing for one spot: the most utility-driven asset in the memecoin market.
While the second-largest memecoin by market capitalization worked on the launch of a new blockchain, Golden Inu launched several different applications poised to provide value to its token, $GOLDEN.
And today, heading towards the end of the 2023 crypto season, the community asks itself: Which “Inu” project was able to provide the most profits for its holders?
What you'll learn 👉
How Much $SHIB Investors Gained in 2023?
In truth, Shiba Inu’s performance throughout the year was nothing short of disappointing. Heading to 2023, many expected the project to gain a tremendous amount of value and notoriety with the launch of Shibarium, as well as updates regarding ShibaSwap.
However, the team behind the project collected several failures ahead of the launch of the blockchain. Shibarium became noteworthy for its constant delays and postponements, and many former $SHIB investors began to doubt the project’s ability to go through with its roadmap.
Today, on September 10, the already-launched Shibarium is already live, but the effects of such a meaningful launch can’t be seen in the performance of $SHIB.
Since January 1st, SHIB has gained a modest 5.4% in value this year, while most of these profits are due to February’s peak when the currency reached $0.00001471. Since then, however, the price of Shiba Inu’s token has gone on a free fall.
Currently trading at $0.000007083, $SHIB lost over 50% of its total worth since its yearly high in February.
What further adds to the idea that investors are wary of putting a lot of money into the project is the contrast between the increased number of Shibarium users since its August 16 launch and the token’s downfall.
Since the blockchain was made available to the public, roughly one month ago, the price of $SHIB went into an even stronger downward trend amassing 35.42% losses.
How Much $GOLDEN [BEP-20] Investors Gained in 2023?
Meanwhile, on the red corner, the new challenger for the post of most profitable “Inu” of the year showcased a completely different performance.
After its debut in February on the Binance Chain, Golden Inu’s $GOLDEN token embarked on one of the most profitable rides in the entire market. From June to August alone, $GOLDEN holders saw their investment grow by over 1200% in value.
In truth, the token also had its downs in the year. Despite providing positive reports from several different security audit specialists, Golden Inu suffered a lot with investor doubts, as is usual with newer projects.
However, so far, $GOLDEN holders certainly have nothing to complain about. In total, the currency amassed a near 300% growth, effectively tripling the initial investment of its investors.
To put into perspective how significant these numbers are, $GOLDEN investors were able to enjoy profits 60 times larger than $SHIB holders.
When taking into account that Golden Inu has several innovative developments scheduled before the end of the year, the currency could reach December 31st with even more significant profits.
Stunning New P2E Game + Token Burning
On September 21st, Golden Inu will launch its new RPG crypto game. The play-to-earn game is named “Golden Inuverse”. This unique Web3 p2e game will allow players to earn $GOLDEN rewards during their time gaming.
While the game is completely free to play, Golden Inuverse requires at least ten dollars in $GOLDEN available on the game-connected wallet. In order to acquire tokens, remember to adjust the slippage to 7% in order to ensure smooth transactions.
Alongside the launch of Golden Inuverse, the memecoin will also kick start its new token-burning mechanism: Golden Treasury.
The mechanism allocates 50% of the profits generated from the entire ecosystem dApps (including Golden Inuverse) in order to purchase back $GOLDEN and burn them.
With such an innovative approach to creating deflation in the ecosystem and enhancing the individual value of all $GOLDEN tokens in circulation, Golden Inu not only incentivizes investors to use and support the project’s applications but also ensures continuous and effective token burning.
When asking any $GOLDEN holder today, they will most likely talk about how they can’t wait to see their investment skyrocket in price once the Golden Treasury goes live.
And that is why, many in the community credit Golden Inu as the project with the most potential for growth to appear in a very long time in the memecoin market. The sole fact that the currency not only withstood the test of time but also outperformed nearly all the other memecoins speaks a lot about its future.
Disclaimer: CaptainAltcoin does not endorse investing in any project mentioned in this article. Exercise caution and do thorough research before investing your money. CaptainAltcoin takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We advise readers to do their own thorough research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. Any investment decisions made based on this content are at the sole risk of the reader. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
