shiba Inu's Falling Burn Rate Causes Price Spiral
shiba Inu ($SHIB) has been on a downward trajectory since March, experiencing a 59% loss from its high of $0.00003541 to its current price of $0.00001445. This decline is attributed to the decreasing burn rate on the community's Shibarium platform, leading to fewer burns and impacting the token's value. With a total supply of one quadrillion, shiba Inu lacks scarcity compared to bitcoin's limited supply of 21 million $BTC, which has only seen an 11% decrease in the same period.
While shiba Inu's price rebounded by 5% in the last 24 hours, its rising relative strength index (RSI) signals an overbought asset, likely prompting some profit-taking to stabilize its price heading into the weekend.
bitcoin Stands Strong Amid meme coin Turmoil
As shiba Inu struggles with deflationary pressures, investors are turning to alternative meme coins for potential store-of-value opportunities. Projects like The Meme games ($MGMES) offer promising returns and can be accessed at fixed prices during pre-sale phases, creating opportunities for early investors to capitalize on future price surges.
The Meme games, dubbed as crypto's official Paris Olympics meme coin, has raised $404,000 for its buy-to-win bonus multiplier since its launch alongside the Olympic games this summer. Investors can purchase $MGMES tokens at a fixed presale price and stand a chance to win a 25% bonus on their initial investment by selecting their favorite meme coin avatar and participating in a race.
With $MGMES currently priced at $0.00935 during its presale phase, investors can secure tokens at the lowest price before incremental increases. The project's whitepaper encourages participants to stake tokens during presale to benefit from a lucrative 476% APY, which diminishes with the number of stakers. staking is exclusively available on the ethereum platform.
Investing in New Opportunities for Better Returns
While shiba Inu and Dogecoin face value erosion, projects like The Meme games offer timely and rewarding investment avenues for those seeking innovative alternatives in the crypto space. By exploring presale options and seizing early opportunities, investors can position themselves strategically to maximize returns and engage in exciting new ventures.
Join the presale of The Meme games via their official website and stay updated on the latest developments by following them on Twitter and telegram.
