Shiba Inu Burns Millions of Shib Tokens Hoping for a Rally, But Metacade Is Still a Better Buy
There are many different ways that crypto projects can induce an increase in price, with token burning one of the most clear-cut ways to achieve it. This is because burnt tokens are taken out of the circulating supply, transferring their value to the tokens that are left.
This is one approach taken by the popular meme coin project Shiba Inu, which has seen more than 380 billion SHIB tokens burned since Ethereum founder Vitalik Buterin burned his bag of 410 trillion tokens back in 2021.
With a total supply of a quadrillion tokens, though, the burns aren’t making much difference to the Shiba Inu price prediction, and with some incredible new projects offering the potential for unheard-of gains, the likes of new disruptor Metacade are drawing in many SHIB holders.
Is Metacade’s utility what sets it apart?
While meme coin projects like Shiba Inu try to create a token utility to regain momentum or rely on the headlines that come through one-off token burns, it is difficult for the projects to continue to find buyers due to the lack of progress made in their ecosystem.
Projects with grand ambitions, utilizing tokens that have a high level of utility, are in a far stronger position because the token price can be driven upwards even in the coldest crypto winters through the platform usage that the token fuels.
Metacade is a prime example of such a project and a rare opportunity for those investors who have digested the contents of the whitepaper and decided to buy into a high-potential project at the earliest stages.
The plans the Metacade team has outlined are a big part of the huge success of the presale so far, which has raised a fantastic $5.4m at record speed in its presale. This level of performance is not often seen and is a clear indicator of the potential that many believe the project holds for substantial gains.
What is Shiba Inu (SHIB)?
Shiba Inu is a meme coin project on the Ethereum blockchain, having followed in the footsteps of Dogecoin as a project headed up by a friendly cartoon Shiba Inu dog.
Shiba Inu began with practically no utility, although since picking up speed as a project that aimed to replicate the success of DOGE on a more flexible chain, the Shiba Inu team has built a DeFi ecosystem in order to tie the token to a functioning product.
Shiba Inu price prediction general: Can SHIB make a comeback?
Shiba Inu has paid the price for its limited utility with a dramatic fall in price since the 2021 bull run. The difficulty the project faces now, impacting the Shiba Inu price prediction, is how much further it can really go from a utility perspective, with very little to differentiate it from others in the DeFi space.
The Shiba Inu price prediction is looking bleak, and if SHIB can hold the price of $0.000009 throughout 2023, it would be a win for the project. The one chance the project seems to hold for the future is a SHIB-specific layer-2 solution called Shibarium, which could allow for more accessibility to smaller investors put off by Ethereum transaction fees.
If Shibarium can help SHIB regain momentum, it’s possible that the price of SHIB will double by 2025 to $0.000018, but the project needs to achieve much more in the next year or two to give itself the chance.
What is Metacade (MCADE)?
Metacade is wowing investors with its plans to build a huge play-to-earn arcade, allowing gamers of all kinds to earn income from their favorite pastime, whether through playing games casually, in tournaments, or even through competitive ladders to reach the top of the leaderboards.
The platform is set to incentivize engagement through a comprehensive rewards mechanism, even through non-gaming activities that contribute to the platform’s user experience, such as writing content or engaging with the community.
How does MCADE work?
The powerful utility token, MCADE, is used as the currency of the platform and is used for all user purchases and rewards. The token also affords holders governance rights, such as in the Metagrants program that allows the community to assess game prototypes so that MCADE holders can vote to distribute development funding, helping direct the future of the online gaming library.
Investors are able to stake their MCADE for passive income that is issued in stablecoins so as not the dilute the overall supply, and this makes the project even more appealing to investors looking at the high-quality investment choice.
The project has a clear plan for future self-sufficiency, which is a critical component of a project set to see dramatic growth in users. Several external revenue streams, including a game launchpad and on-platform advertising, have already been identified as part of the cohesive plan that looks set to shake up the online gaming world as we know it.
Metacade price prediction general: Can MCADE 100x in 2023?
The high potential that Metacade has shown is reason alone that many investors believe MCADE could rise 100x after the presale has been completed, putting MCADE at $2 per token — a prediction far more bullish than the Shiba Inu price prediction.
With such high potential and a feeling of inevitability about the huge user growth the platform could see, it seems possible for MCADE to reach $5 by 2025, and beyond that, sky is the limit.
You can participate in the Metacade presale here.
The post Shiba Inu Burns Millions of Shib Tokens Hoping for a Rally, But Metacade Is Still a Better Buy appeared first on CoinJournal.
