A lot of people believe the rise of Shiba Inu was thanks to hitchhiking on the back of Dogecoin.

"A surge in interest for Dogecoin drove traders to find the next big thing," wrote Fortune about the Shiba Inu surge to a $14 billion market cap in May 2021.

"Shiba Inu has obviously been due to Dogecoin's success," said David Hsiao, the CEO of Block Journal last year.

There are many more who believe the Shiba Inu 2,405% spike within 72 hours by May 10 was down to Elon Musk's appearance on Saturday Night Live on May 8 – and that alongside Musk tweeting about buying a Shiba Inu pup was enough to seal SHIB's fate.

The analysis is in part correct; but it's not the whole story.

What's missing was the removal of 42.01% of the entire Shiba Inu supply from circulation in one transaction sometime around mid May last year. When the bull market came back around in October-November, the same trading volumes sent SHIB prices sky-rocketing to a new all-time high.

By October 27th, the price of Shiba Inu had risen over 46,000,000% from January 1st.

Thousands of meme-coins have flooded the crypto market attempting to make those kinds of returns again, but few have taken the tougher route of coin burning.

Until EverGrow came along in September last year.

If you're serious about picking a small cap cryptocurrency with the potential for explosive returns of a Shiba Inu ilk, don't get sidetracked by following the hype – you have to understand coin burns.

You'll learn everything you need to know in this article.

Let's jump in.

EverGrow – a burn rate 12% higher than Shiba Inu

The Shiba Inu burn rate started life at 41.02% when Vitalik Buterin burned the majority of Shiba Inu tokens he had been sent in early 2021.

Buterin didn't want the 'control' of SHIB's supply.

So he burned most of it – and sent the rest to an India COVID-19 relief fund, as well as funded a PhD programme in artificial intelligence.

Fast-forward to August 2022 and where do you think the Shiba Inu burn rate is at?

According to Shibburn.com, it's up to 41.04%.

In other words, despite hundreds of projects and thousands of SHIB tokens entering the burn wallet, the needle has moved just 0.02%.

Enter EverGrow.

The project only launched in September last year, and the burn rate is already 53.05% (according to burn wallet auditable on BSCscan.com.)

With the EverGrow market cap currently hovering around the same levels Shiba Inu was it before its explosion onto the scene in May last year ($100 million) EverGrow is well-prepared to follow the Shiba Inu trend.

What's the difference between Shiba Inu and EverGrow burns?

Vitalik Buterin set the precedent for Shiba Inu burns.

Which means, it was an altruistic burn done at a personal cost. All Shiba Inu burns since (worth $1.7 million at the current SHIB price) have been done either by investors destroying part of their own position or projects burning SHIB with a percentage of profits.

This, of course, is all part of the Shiba Inu vision.

The anonymous founder of Shiba Inu (Ryoshi) wanted the project to be an 'experiment' in decentralised community building. Vitalik Buterin continued that vision with charitable causes – but not every SHIB investor realises that.

The majority of new Shiba Inu investors FOMOd in on the hype – and probably lost money.

According to IntoTheBlock, 60% of Shiba Inu holders are in the red on their position at the current SHIB price ($0.000015). This is also because 68% of all holders bought SHIB in the past 12 months – and prices have been falling since October/November.

These investors might be unwilling to burn their own portfolio.

This is why EverGrow is interesting as an approach to crypto. EverGrow charges a transaction tax, and 2% of this tax goes towards buyback and burn. The funds collected from this tax automatically perform regular burns – i.e. smart contracts buy up $EGC tokens and send them to the burn wallet.

What it means is a burn process that's not only automated, but also fair.

Whales and small investors alike contribute the same percentage of their buys and sells to coin burns. Even if there is a large sell-off, investors can be rest assured that a portion of the outflow is kept back for an upcoming buyback and burn.

When is EverGrow going to break out in price?

The EverGrow market cap is currently at $100 million.

If you're buying up EverGrow at the current price, the market cap only needs to hit $1.1 billion for a price hike of 1,000%. If the market cap hits the $14 billion market cap that Shiba Inu reached in May last year, it would mean a 13,900% return on investment.

But, of course, the question is 'when will this happen?'

A bull market will most likely be the deciding factor. But in the meantime EverGrow has a lot going on to draw in new investment and spread the project to more investors.

Here's what's in store:

• LunaSky. EverGrow will drop a new NFT marketplace in the next few weeks, which will aim to compete with leading Ethereum-based marketplaces. LunaSky is built on the BNB Chain. The project will be separate to EverGrow but all profits will be used to buyback even more $EGC tokens and burn them from supply.
• Crator. EverGrow will then drop a content subscription platform – the world's first to integrate fiat and crypto into a specifically content subscription style social media application. Commissions will be much lower than competitors like OnlyFans (5% vs OnlyFans' 20%) and all profits will be put into buyback and burn.
• The Abstract. EverGrow will become the native token of The Abstract metaverse. The project is under development by Objective Reality Studios in the US, and will be the world's first cloud-streamed VR gaming arcade. The technology allows headset users to play high-quality games without needing extra computing power. Players can earn EverGrow in play-to-earn games, or use a 3D version of LunaSky, Crator and an upcoming EverGrow Swap crypto exchange.

With all of the above dropping before the end of 2022, there's every chance that EverGrow will have its first major price rally before the year is out. From there on, it's only a matter of time for the next bull market to send prices sky-rocketing.

There are thousands of cryptocurrencies all aiming to be the next Shiba Inu.

The problem is that hype only lasts for a certain amount of time – largely because investors buy into projects that have little utility and real-world value to carry them past 12 months, let alone 3, 5 or 10 years of solid growth.

EverGrow is different. The project has already spiked 25% in the past week, while Bitcoin has fallen -1%.

Read up on the EverGrow white paper and get involved because this hot new token might just become the next Shiba Inu.