Golden Inu’s $GOLDEN token just reached an all-time high. Launched on July 13 on the Ethereum blockchain, the asset is undergoing one of the most vital upward trends of the month, trading over 140% above its initial price.
The currency gathered a lot of attention during the company’s presale funding rounds which picked up over 140ETH in funds.
Since then, early buyers have already doubled their initial investment in the currency. Over the past week alone, the $GOLDEN token grew by a whopping 43.4% in value.
The asset’s daily trading volume is also a testament to $GOLDEN’s strong upwards momentum. Over the past 30 days, Golden Inu’s 24-hour volume increased by over 1400%.
Furthermore, the buying volume for $GOLDEN is currently around double the amount of tokens being sold in a day. Pairing that information with the fact that the currency is repeatedly breaking all-time highs indicates strong market optimism for the token. As investors jump ship and join the token in anticipation of exciting developments surrounding the Golden Inu ecosystem, the project cements itself as a contender within the memecoin market.
Golden Inu’s Tokenomics Are Bound To Generate Growth
Perhaps one of the most interesting facets of the new token is its unique approach to tokenomics. In order to buy $GOLDEN on the Ethereum Blockchain, users must adjust their slippage to 7% in order to ensure a smooth transaction.
Out of every trade, 3% is allocated to the development of upcoming projects, while the other 3% is for liquidity.
According to Golden Inu’s whitepaper, the Ethereum-Blockchain-Based $GOLDEN token has already burned 100% of the currency’s liquidity pool. Meaning that the currency has deflationary features designed to decrease its total supply over time.
Moreover, by lowering the supply of the token, Golden Inu aims to generate scarcity and steadily increase the value of the token for many years.
By allocating 3% of each trade toward liquidity, subsequent to the complete burning of the LP, $GOLDEN thrives within a cyclical ecosystem. In this ecosystem, excess liquidity prompts the developers to introduce new products and features, enriching the utility and value proposition of $GOLDEN.
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