There are many different ways in which crypto projects can induce a price increase, and burning tokens is one of the most direct ways to achieve this. This is because the burned tokens are removed from the circulating supply, transferring their value to the remaining tokens.
This is an action used by the popular meme coin project Shiba Inu, which has seen more than 380 billion SHIB tokens burned since Ethereum founder Vitalik Buterin burned his stock of 410 trillion in 2021.
With a total supply of one quadrillion tokens, the burns are not making much difference in Shiba Inu's price prediction, and with some new incredible projects offering the potential for unprecedented gains, competitors like the disruptor Metacade are attracting many SHIB holders.
Is it the utility of Metacade that sets it apart?
What's happening?
While meme coin projects like Shiba Inu try to create utility for the token to regain popularity or rely on headlines from large token burns, it is difficult for projects to continue to find buyers due to lack of progress in their ecosystems.
Projects with great ambitions, using tokens that have a high level of utility, are in a much stronger position because the token price can be pushed up even during the coldest crypto winters through the use of the platform that the tokens power.
Metacade is a perfect example of this type of project and a rare opportunity for investors who have digested the content of their whitepaper and decided to invest in this project with enormous potential from the beginning.
The plans that the Metacade team has defined are a large part of the enormous success of the pre-sale so far, which raised fantastic $6m quickly during its pre-sale.
This level of performance is not often seen, and it is a clear indicator of the potential that many believe the project has for substantial gains.
What is Shiba Inu (SHIB)?
Shiba Inu is a meme coin project on the Ethereum blockchain, having followed in the footsteps of Dogecoin as a project headed by the design of a friendly Shiba Inu dog. Shiba Inu started with virtually no utility, although after accelerating as a project that aims to replicate DOGE's success on a more flexible chain, the Shiba Inu team managed to build a DeFi ecosystem to link the token to a functional product.
Shiba Inu General Price Forecast: Can SHIB recover?
Shiba Inu has paid the price for its limited utility with a dramatic price drop since the 2021 bull run. The difficulty the project is facing now, impacting Shiba Inu's price projection, is how far it can really go in terms of utility, with very little to differentiate it from other projects in the DeFi space.
The Shiba Inu price forecast looks weak, and if SHIB can maintain the $0.000009 price during 2023, it will already be a win for the project.
The only chance the project seems to have for the future is a SHIB-specific layer-2 solution called Shibarium, which can allow greater accessibility for smaller investors who are deterred by Ethereum's high transaction fees.
Shibarium can help recover SHIB's momentum, and it is possible that SHIB's price will double by 2025, to $0.000018, but the project needs to do much more in the next one or two years to have a chance.
What is Metacade (MCADE)?
Metacade is impressing investors with its plans to build a huge play-to-earn arcade, allowing players of all types to earn income from their favorite pastime, whether playing games casually, in championships, or even through competitive leaderboards.
The platform is prepared to incentivize engagement through a comprehensive rewards system, including even non-gaming activities that contribute to the platform's
