Recently, a Shiba Inu (SHIB) whale moved over 4.6 trillion SHIB tokens, worth about $38 million, between two unknown wallets. While the investor’s motive is unclear, some speculate that it could be related to the relaunch of Shibarium, the layer-2 scaling solution for the SHIB ecosystem.
Amidst its launch in August, Shibarium dealt with several technical issues that resulted in millions of dollars worth of crypto assets being stuck on its Ethereum bridge. After having to move the blockchain to private mode, the issues were resolved by adding more node validators and optimizing the network parameters.
A couple of days later, Shibarium’s relaunch was announced by Shytoshi Kusama, the lead developer of the SHIB project, who claimed that Shibarium is now “ready for prime time”.
Since then, the platform appears to have become more stable, with Shibarium’s mainnet reaching over 50,000 active wallets after the relaunch. However, SHIB and BONE prices have fluctuated slightly since then, with SHIB showing a slight increase and BONE showing a slight decrease.
Many speculate that the whale decided to remove $38 million in SHIB from the blockchain after its repeated mishappenings regarding its launch. In all likelihood, the multi-millionaire will probably move the tokens to an exchange throughout the next couple of days.
Golden Inu Getting Ready to Burn Tokens
While $SHIB is making headlines with its whale movements and layer-2 developments, another memecoin is quietly preparing for a major event that could potentially skyrocket its value.
Over the next couple of weeks, the project is expected to debut the “Golden Treasury”, the Golden Inu token ecosystem’s unique token-burning mechanism.
Golden Treasury works as a smart contract that allocates 50% of the overall dApps revenue and uses it to buy back $GOLDEN tokens from circulation to burn them. This innovative mechanism enhances scarcity and potentially supports long-term value appreciation.
The burning is expected to start as soon as Golden Inu’s new P2E game “Golden Inuverse” [view game] debuts its stable version in a couple of weeks. The beta version is available now, allowing users to see the game has actually progressed to a level at which users can verify the play-to-earn game’s progress.
However, to register and earn, players of the Golden Inu must be active in the Golden inu ecosystem. To make money while playing, users must have $11 in $GOLDEN [bep-20] tokens to be able to register to play. This helps boost the value of the Golden Inu token and ensures people are at minimum, aware of how to trade the crypto being hailed the ‘Shiba inu Killer.’
Upon the debut of the stable version, users will be able to earn Golden Inu($GOLDEN) tokens via in-game tasks, battling, and adventuring. This has gamers and investors alike, incredibly excited to join the project at its beginning.
The game will introduce players to an immersive crypto-based world, where they can leverage the unique features of the GOLDEN token for an engaging and rewarding gaming experience.
The allocation of 50% of revenue to the Golden Treasury is expected to have drastic effects on the GOLDEN token, as it will reduce the supply and increase the demand.
In addition, this will likely cause the token to surge in value by a significant amount, especially if the game attracts a large and active user base. This comes after the Golden Inu’s ERC-20 version of the $GOLDEN token was just added to the popular coin indexes Live Coin Watch and Coin Gecko.
Credit: Source link
