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Every Shiba Inu investor asks themself 'will Shiba Inu reach $1?' – but crypto newcomer EverGrow Coin is far more likely to reach that figure first.
Before we get into the whys and hows, let's look at what a $100 investment will look like when Shiba Inu or EverGrow Coin reaches a $1 price. If Shiba Inu can shed four zeroes from its current price of $0.00002397 it would see a $100 investment reach $4,172,000.
In the case of EverGrow Coin, if EGC's current price of $0.000000363760 can reach $1 it would see a $100 investment become $274,876,306.
These kinds of gains are life-changing – and not impossible. Shiba Inu shed six zeroes throughout the course of 2021, meaning that a $2 investment at the beginning of 2021 would have made you a millionaire by 2022.
The answer to this question is contained in just three letters: BB+B. It stands for buy-back-and-burn and relates to EverGrow Coin's built-in mechanisms for burning crypto tokens to inflate EGC's price.
To understand the importance of this, let's illustrate some Shiba Inu history. In May last year, the Ethereum co-founder Vitalik Buterin burned 410,000,000,000,000 Shiba Inu tokens (about 41% of the total supply). This vastly reduced the supply of Shiba Inu crypto tokens and occurred as the price of Shiba Inu shot up 900% to hit an all-time high of $0.00003791.
According to shibburn.com to date, 410,312,981,378,284 Shiba Inu tokens have been burned – about 41.03% of the supply. Shiba Inu crucially has no centralised oversight meaning that loyal Shiba Inu fans are burning tokens in creative ways – like the Shiba Inu Coffee Company which uses profits to burn SHIB tokens. The goal is to keep burning until 1 Shiba Inu token is worth $1.
But what if reaching a $1 price through coin burns happened automatically? Enter EverGrow Coin.
The top EverGrow Coin wallet address on bscscan.com is the EGC burn address. It contains 528,465,477,725,549 EverGrow Coin tokens which represents 52.85% of supply. This means that EverGrow Coin has managed to burn more crypto tokens than Shiba Inu – and automatically – after launching in just September last year.
So how does EverGrow Coin burn so many tokens? The heart of the matter is that EverGrow Coin's entire business model is set up to see the kind of returns Shiba Inu achieved by accident.
Everyone buys or sell order of EverGrow Coin comes with a 14% tax, of which between 2-3% is set aside for strategic coin burns (BB+B). After EverGrow Coin was listed on the DigiFinex exchange last week, the chairman Sam Kelly explained on Twitter
EverGrow Coin's roadmap includes at least 10 different revenue streams for BB+B. These go far beyond the 14% transaction tax, to include profits from a content subscription platform (Crator), profits from an NFT marketplace set to drop this April 2022, and profits from a ground-breaking metaverse integration (The Abstract), and many more. (You can see a full list of BB+B mechanisms here.)
Shiba Inu currently has a higher market cap, at $13 billion compared to the modest $184 million of EverGrow Coin. Shiba Inu rocketed up from similar levels to EverGrow Coin in just a year, however, and from here on out Shiba Inu arguably has a tougher challenge ahead to reach $1 than EverGrow Coin.
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.
