The price of Shiba Inu has fallen 3% in the last 24 hours, as the popular meme-coin is overtaken by newcomers such as EverGrow Coin.
Shiba Inu remains a popular cryptocurrency and is the 15th biggest token by market cap at over $13 billion. But this hasn’t stopped Shiba Inu from losing 29% in prices since the beginning of the year.
EverGrow Coin is one of the fastest-growing top cryptos in price today, up by 14% according to CoinMarketCap data.
The project takes inspiration from the massive success of Shiba Inu but aims to build a longer-term plan that should net returns for crypto investors for years to come.
Shiba Inu news was strong in April 2022, with the launch of SHIB: The Metaverse, a listing on Robinhood, and recent adoption as means of payment for a Porsche dealer in Baltimore.
In this article, we’ll look at why the price of EverGrow Coin is outperforming Shiba Inu today.
EverGrow Coin takes the success of Shiba Inu coin burning but makes it part of the project’s core utility.
To date, the EverGrow Coin team has burnt 52.85% of the token’s total supply according to bsccan.com.
The EverGrow Coin burn rate is set to explode in the coming days thanks to a surge in trading volume following an $EGC listing on DigiFinex.
EverGrow Coin is a hyper-deflationary token that charges a 14% tax on all buy/sell transactions with 2% going into a team wallet for strategic coin burns.
This means buying up EverGrow Coin and removing tokens permanently from the supply.
Another reason why EverGrow Coin is growing faster than Shiba Inu today is that it pays BUSD stablecoins reflections daily to investors.
EverGrow Coin has paid out over $36 million since launching in September last year, according to the dashboard on its website.
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