The cryptocurrency market has been experiencing a lot of volatility lately, with some coins surging to new highs and others plummeting to new lows. Among the most popular meme coins, Golden Inu (GOLDEN) and Shiba Inu (SHIB) have shown contrasting performances in the past week.
Shiba Inu Shibarium Launch Is Disappointing
Shiba Inu, the OG self-proclaimed “Dogecoin Killer”, has been losing steam after a series of setbacks. The most recent one was the failed launch of Shibarium, its own blockchain platform, on August 16. Due to a technical glitch, millions of dollars worth of SHIB tokens became trapped in an Ethereum bridge, causing the platform to go private and delay its public release.
Since then, investors appear to be flocking away from the project. According to recent reports, a SHIB whale moved nearly $40 million in SHIB to an anonymous wallet and many speculate it to go to an exchange next. This could indicate a potential sell-off that could further drive down the price of SHIB.
In the past week, SHIB has lost 3.2% of its value, trading at $0.0000078 as of September 2nd. It is currently ranked #16 by market capitalization, with a market cap of $4.65 billion3.
Golden Inu Remains Stable Amidst Market Corrections
Golden Inu, on the other hand, has been showing remarkable stability amidst the market corrections. The GOLDEN token [ERC-20], gained 0.74% in value in the past 24 hours, trading at $0.000000000001921 as of September 2.
This resilience is gaining attention in the crypto space, and it hints at a promising future for this meme-inspired cryptocurrency.
Golden Inuverse: A New Frontier for Crypto Innovation
One of the key factors contributing to Golden Inu’s stability and potential for future growth is the imminent launch of the “Golden Inuverse” game. This exciting venture introduces a diverse range of characters known as bloodlines, each with unique abilities and skills. The anticipation surrounding the game’s release has been steadily building, as it promises to add a new layer of excitement to the Golden Inu ecosystem.
With its innovative approach to character development, which incorporates NFT weapons and tools, the game empowers players to enhance their characters’ abilities. This level of customization and strategic gameplay potential positions Golden Inu as an asset with significant momentum and room for growth.
The launch date of the Golden Inuverse is September 21st, if development goes as expected. The beta version, which is purely to exemplify the ability to make a gaming platform, launched last month.
The Golden Inu game developer team has been working hard to create and test these DApps and ensure their quality and functionality.
Token Burning Mechanism: A Catalyst for Price Appreciation
Another factor that could boost the value of GOLDEN is its token-burning mechanism. This deflationary smart contract known as “Golden Treasury” is set to burn a substantial portion of $GOLDEN tokens using 50% of the total revenue generated from the game and other decentralized applications (dApps) within the Golden Inu ecosystem.
This strategic move is expected to create scarcity, significantly reducing the supply of $GOLDEN tokens.
As the “Golden Treasury” goes live, it’s poised to be a game-changer in combination with other Golden Inu Ecosystem dApps, likely resulting in a substantial increase in the value of $GOLDEN. The reduction in token supply combined with the growing utility within the Golden Inuverse and broader ecosystem is expected to drive demand and value, making Golden Inu an asset to watch closely.
The post Golden Inu Stabilizes For 24 Hours While Rival Memecoin Shiba Inu Caps Week With -3.2% Loss appeared first on CryptoMode.
