Shiba Inu is on track for its lowest burn in 18 months: fans destroyed only 368 million SHIB in November, worth $3,200.
The Shiba Inu burn in November is a -99% fall when compared to May this year. Investors burned a massive 31 billion SHIB, which would have been worth at least $310,000 at the time.
Meanwhile, the hit hyper-deflationary token EverGrow has ramped its burn rate up by 5,750% in November. The EverGrow burn is on track for a price explosion when investment returns to the crypto market.
Read more about EverGrow: https://evergrowegc.com/
The price of an asset is determined by its market cap and circulating supply. If a cryptocurrency had a market cap of $1 million and there were 1 million tokens, each token would be worth $1.
But if this cryptocurrency burned 999,000 tokens – leaving it with just 1 thousand tokens in circulating supply – each token would suddenly be worth $1,000.
Shiba Inu fans are hyped on the idea that burning Shiba Inu could bring prices up to $0.1 or even $1 within the next few years. It's possible if Shiba Inu can reduce its circulating supply from the current 590 trillion SHIB tokens down to 1 trillion or under.
If this happened, you would enjoy a 12,000,000% return on investments made today. You could flip $10 into over $1 million.
Shiba Inu did it before. After Vitalik Buterin burned 41% of the total Shiba Inu supply in May 2021, the SHIB price went on to pump 40,000,000% between January and October.
The EverGrow burn rate has exploded 5,750% in November.
EverGrow already burned 5% of its circulating supply in the past 12 months – but it could be about to burn 5% more of its current circulating supply before the end of 2022. This might not give any EverGrow investment an ROI over 1,000,000% while we are in a bear market cycle.
But you could easily beat the crypto market in 2022, and expect huge ROI in the next bull market.
Read more about EverGrow: https://evergrowegc.com/
The EverGrow burn mechanism is automatic. Every time you buy or sell EverGrow, you pay a 14% tax, with 2% of this used to buyback and burn EverGrow tokens.
But now the EverGrow team is not only burning with the tax but also buying $500 of EverGrow every hour. Since November 9th this has destroyed 0.3% of the circulating EverGrow supply – and the hourly burn will keep going until at least the end of the year.
A further 2% of each EverGrow buy or sell is set aside to fund ecosystem development. In September, EverGrow dropped an NFT marketplace – LunaSky – which was the first in crypto to send 100% of all in-app revenue towards buying back and burning EverGrow.
More than $250,000 was raised in the first week of launch. These funds were finally deployed via a smart contract on November 9th to begin buying and burning $500 of EverGrow every hour.
While EverGrow burned 22 billion EGC tokens in October, it has burned 1.3 trillion in under two weeks.
Anyone buying EverGrow in November will be able to capitalise on a significant price pump before the end of the year. Holding onto EverGrow will see you earning Binance USD passive income (financed by a majority 8% of the 14% EverGrow tax) plus huge ROI when the price of EverGrow pumps after the token burning.
Read more about EverGrow: https://evergrowegc.com/
