Shiba Inu price today falls 3% as EverGrow Coin soars 14%

Take a look at why the price of EverGrow Coin is outperforming Shiba Inu today

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 focuses on coin burns to boost the price

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.

EverGrow Coin chairman Sam Kelly announced on Twitter the team wallet for buyback & burn has swelled to over $2 million. It's an interesting comparison with Shiba Inu, which saw 1.4 billion Shiba Inu tokens burned last week (about $34,000 value). 

Coin burns help to reduce overall token supply, but also register as a green candle on price charts and hence boost the EverGrow Coin price. With a massive coin burn expected in the coming days, many crypto investors are buying up EverGrow Coin right now. 

EverGrow Coin has paid $36 million in BUSD reflections 

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.

The potential to earn stablecoin passive income from crypto is attractive to investors, especially as Shiba Inu has been falling over 70% in price since October last year. EverGrow Coin lets investors continue earning while they wait for the coin price to increase enough in value to make a profit. 

These two innovations at the heart of EverGrow Coin make it an attractive crypto investment this 2022 for many enthusiasts. Shiba Inu is clearly a hugely popular crypto-token, but the project's decentralised nature makes it difficult to follow a clear roadmap. Whereas the loyal ShibArmy finds its own way to boost the Shiba Inu price, EverGrow Coin makes it easy to watch your crypto investments grow so you can relax. 

Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.