As the memecoin market heads into one of the most critical times in history, two currencies inspired by the iconic Japanese dog breed, Inus, emerge as some of the projects with the most potential for growth in 2024.
The first one is Shiba Inu, one of the most popular memecoins in the market. After consolidating as the second-largest memecoin by market capitalization, the world’s first Inu token aims to continue its upward trajectory with the launch of its own blockchain, Shibarium.
Meanwhile, the Golden Inu Token, a new token initially launched in February of 2023, has already made a mark in the memecoin market. The project, led by KYC-verified “Golden Takeishi” aims to provide a plethora of useful applications and products to the memecoin market.
As investors head to the end of the year, many are on the lookout for new tokens to invest in and diversify their wallets.
Shiba Inu’s Outlook
Up to this day, a good chunk of $SHIB investors swear solemnly by the potential for Shiba Inu to skyrocket in price.
Until recently, the vast majority of investors had their faith that the project’s new blockchain, Shibarium, would turn out to be the catalyst that Shiba Inu (SHIB) needed in order to dethrone Dogecoin as the world’s leading memecoin.
However, what ensued was nothing short of a disappointment for everyone financially or emotionally involved. Shibarium had to go through several postponements before its launch, and even after launch the blockchain showcased problems.
Only moments after its official debut on August 16, 2023, Shibarium had to be taken private after millions of investor’s funds became stuck on an Ethereum bridge. With yet another problem related to Shiba Inu’s innovative project, a good part of the cryptocurrency community began to lose faith in Shiba Inu’s ability to implement its own layer-2 blockchain.
After all, with countless problems related to Shibarium, it becomes increasingly harder to see how the blockchain could rival already established companies like Solana and Polygon.
And the effects of this disappointment can be seen in the price of the Shiba Inu (SHIB) token. Over the past week alone $SHIB lost over 5% in value.
Furthermore, the larger picture represents even more problems for the memecoin. Over the past month, the token lost nearly 27% in value, while the yearly chart showcases a deficit of nearly 50%.
With countless problems and a lack of investors’ confidence on its side, Shiba Inu would definitely need a miracle in order to reach $0.005 anytime soon.
Golden Inu’s Outlook
Meanwhile, a new project has been working on the sidelines of the memecoin market, but also eyeing up the post of becoming the most utility-driven token in the meme-inspired crypto market.
Golden Inu, a new project launched in February on the Binance Chain, has since been diligently working towards leaving its market in the market.
From June to August, Golden Inu’s $GOLDEN [BEP-20] token stood out for its impressive growth of nearly 1500% in a short time span. Since then, the project has undergone several different security audits (while passing with flying colors) in order to assure investors that Golden Inu is as reliable and secure as possible.
What is interesting about this project is that up until this point, Golden Inu is just starting. The new memecoin potentially has plenty of room for growth with several upcoming projects down the horizon.
Why Golden Inu Will Likely Grow
The reasoning behind this statement is simple: Golden Inu (GOLDEN) has trillions of tokens in circulation, but the project hasn’t implemented its new token-burning mechanism yet.
The “Golden Treasury”, Golden Inu’s smart contract that promises to drive the value of $GOLDEN forward, will work by allocating half of the total profits generated by the project’s dApps. These separated funds are to be then used to buy $GOLDEN tokens from circulation and automatically burn them.
This new mechanism is expected to start operations alongside the launch of the new play-to-earn game “Golden Inuverse”, on September 21st. With an already large following of Web3 gamers learning ‘how to play’ before embarking on the metaverse journey, the new game is still accepting subscriptions for those looking to enjoy a unique RPG that also offers rewards in $GOLDEN.
While the game is completely free to play, players should have ten dollars worth of $GOLDEN in their wallets. Also, transactions in GOLDEN require a 7% slippage fee in order to ensure smooth swaps.
Further down the line Golden Inu is set to launch new applications that are also promising to enhance the value of its token. Firstly, a new DeFi marketplace that will allow the community to buy, sell, and offer DeWork services.
In addition, instead of investing in yet another blockchain, Golden Inu devs are working on the launch of an exclusive Decentralized Exchange that will put to use the project’s multi-blockchain technologies in order to offer the crypto space cheaper and quicker swaps between tokens from different blockchains.
While Shiba Inu shows signs of stagnation—Golden Inu’s potential for growth makes it stand out as a project to look forward to in the upcoming future. By encompassing token-burning and community interest at the same time, the token might have a higher chance of reaching the desired $0.005 milestone.
If that were to happen, $GOLDEN holders would certainly be in for a profitable ride. With the value of $GOLDEN [BEP-20] trading at around $0.000000000004604 currently, Golden Inu is one of the few projects that can confidently say that it has the potential to generate a couple of millionaires and maybe even billionaires, in the future.
Also, watch the crypto ecosystem’s ERC-20 version of the $GOLDEN token for valuable updates as it too will go along for the ride once it’s applied to Golden Inu dApps.
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