The crypto market shed $170 billion through the first half of April, falling below $2 trillion as nearly all top crypto tokens slumped in price. Bitcoin is down 12% in the past week, Ethereum is down 9%, and Terra's LUNA token is down 26% in price.
Most top 20 tokens are growing between 0-2% today on April 17 – but Shiba Inu and EverGrow Coin have surged over 20% in the past 24 hours. Shiba Inu is the second-largest memecoin by market cap while EverGrow Coin is the top reflection token on the BNB Chain.
Price surges for both coins came after new listings on top exchanges and crypto platforms. With trading volume increasing along with price hikes these two coins are set for further growth through April 2022.
Shiba Inu is by nature a decentralized cryptocurrency, with even the anonymous founder Ryoshi stepping back and claiming he/she owns no SHIB tokens. Ryoshi sent some 50% of all Shiba Inu coins to Ethereum co-founder Vitalik Buterin, who burnt the majority and sent the rest to a COVID-19 relief fund in India.
With a token price of $0.00002734 many Shiba Inu backers (referred to as the SHIB Army) have taken it upon themselves to boost prices and generate more interest. Many backers periodically burn their own coins, or others like the Shib Coffee Company burn SHIB with profits made by selling coffee.
Another key milestone for the SHIB Army has been a Robinhood listing. The crypto brokerage platform yesterday announced Shiba Inu had been listed and announced a $100,000 giveaway to boost adoption. Shiba Inu's price responded accordingly, surging 20% in the last 24 hours.
Another development in Shiba Inu concerns the development of the SHIB metaverse. Land sales have gone online this week, and further developments could push Shiba Inu's even higher in April 2022.
EverGrow Coin launched in September last year, as part of a new crypto breed of reflection tokens. The token has fast become the top reflection project on the BNB Chain (Binance Smart Chain) as it chases new milestones and further adoption. Yesterday the coin got its first listing on DigiFinex, a top 10 crypto exchange by trading volume.
EverGrow Coin's price shot up 22% on the DigiFinex platform, hitting a price of $0.00000043 up from $0.00000037 within hours. The listing has also been a great test of EverGrow Coin's complex tokenomics. The project charges a 14% transaction tax on each buy/sell order with 8% paid out as BUSD rewards, 3% set aside for strategic coin burns, 2% set aside for liquidity, and 1% for marketing.
A 24-hour trading volume of $2 million on DigiFinex means $60k for coin burning and $160k in BUSD stablecoin rewards for investors. Total BUSD rewards hit $36 million yesterday.
EverGrow Coin has more drops announced for this month, which are likely to include a new NFT marketplace and a content subscription platform called Crator. Both applications are designed to generate profits which are then used for more strategic coin burns or as more BUSD reflections.
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