The post Shiba Inu holders switch to a revenue sharing altcoin that’s on fire appeared on BitcoinEthereumNews.com.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Shiba Inu struggles to regain relevance in 2024 as capital shifts to new memecoins like Rollblock, whose presale has already attracted over $2.1 million. Shiba Inu used to be the talk of the town during the bull run of 2021. This was when SHIB generated historic returns for early investors who held all the way to its all-time highs. Fast forward to 2024, and Shiba Inu is almost on the brink of irrelevance as capital flies to newer memecoins with greater pump potential. However, the increased SHIB burn rate has analysts believing that there could be yet some juice to be squeezed from this lemon. Nevertheless, Shiba Inu is losing ground to newcomers, especially low-cap gems like revenue sharing GambleFi token Rollblock. So far, the presale has drawn over $2.1 million in funding as its ICO continues to make waves. Users can still get in on the early gains by joining the presale.  SHIB burn rate heats up in August The goal of burning tokens is to generate artificial scarcity and combat the effects of inflation. That’s exactly why Shiba Inu transitioned to a deflationary tokenomics scheme. Well, don’t look now—the SHIB burn rate saw a massive spike last August 11 when over 38.8 million SHIB tokens were taken out of the circulating supply. That’s a staggering 38,199,412% increase compared to the previous day’s rate. SHIB holders still exiting positions Unfortunately, the heightened burn rate barely affected Shiba Inu prices. Shiba Inu whales are still exiting en masse, with a good number selling off their massive stakes and moving to greener pastures. One of the projects capturing the eye of SHIB whales is Rollblock, whose presale and revenue sharing…

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Filed under: News - @ August 16, 2024 12:26 pm