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Recently, the memecoin market embarked on a streak of profitable turns. While assets like Doge are up by 8% over the week and $GOLDEN [ERC-20] up by 18% in the month— Shiba Inu’s governance token—Bone Shibaswap—is suffering incredible losses.
According to CoinMarketCap, $BONE is down by nearly 4% throughout the day, continuing its negative streak of 11% losses over the past 7 days.
After the launch of Shiba Inu’s layer-2 blockchain, Shibarium, many expected such a grand innovation to reflect on the value of the currencies, especially BONE.
However, what ensued was nothing of the sort. Throughout development, the Shiba Inu team advertised Shibarium as a blockchain that would have a pivotal role in increasing the burn rate of $SHIB.
Yet, the blockchain has failed to burn a single token up until today. For Shibarium to burn tokens, it has to collect $25,000 worth of $BONE from in-chain transactions. So far, the blockchain has allocated around $20.00.
With nearly 4 million transactions, estimates are that at this rate Shibarium would need over 5 billion transactions to achieve the $25,000 milestone. At this rate, it would take decades, if not centuries before it hit that mark.
As a result, the Shiba Inu community complains about false advertisements on a platform that should have a more important role in SHIB’s burn rate. Perhaps for this reason, the value of $BONE has not only stagnated but lost value even throughout a bullish market.
Golden Inu’s Innovative Plans For 2024
Meanwhile, Golden Inu appears to be setting its sights on transformative, utility-driven initiatives.
With the intention of providing its holders with yields above 5,000% in 2024, Golden Inu’s roadmap includes groundbreaking milestones that utilize the utility-based approach to stand out in a crowded market. The project aims to reshape the crypto landscape and provide tangible value to its users, with utility at the forefront.
On December 25th, Golden Inu will unveil its first major dApp “Golden Inuverse”, a PvP game that promises an immersive gaming experience combined with lucrative earning opportunities. Players take part in exciting battles and unlock various in-game rewards, all funded by the game’s own $GOLDEN currency.
In the game, players can access various features including quests, battles, and unique ways to earn $GOLDEN tokens. The integration of $GOLDEN as in-game currency increases the utility of the game and fosters a symbiotic relationship between the game and cryptocurrency.
Also, it provides incredible incentives as gamers would be earning rewards in a currency that could be worth 10 times its value next year.
Expanding the Web3 ecosystem with innovative applications
In addition to the launch of Golden Inuverse, there are strategic plans to introduce other dApps.
These applications will look to strengthen the project’s Web3 ecosystem and increase user engagement. In particular, Golden Inu plans to launch the Golden Bazaar DeFi marketplace in the future, which will introduce an innovative Web3 approach to the world of e-commerce.
In addition, the integration of Golden Bazaar as a DeWork platform underscores the project’s commitment to creating a dynamic decentralized workspace that fosters innovation and collaboration.
Later down the line, the project will also create a new DEX, capable of using $GOLDEN as a bridge token allowing investors to swap tokens from multiple blockchains at a cheaper and more decentralized way.
Golden Treasury: fuel for growth and value enhancement
The Golden Treasury Smart Contract is at the heart of Golden Inu’s sustainable growth strategy. Profits generated from all decentralized applications within the ecosystem will be strategically invested in a buy-back-and-burn initiative. This deflationary mechanism is expected to increase the scarcity of $GOLDEN tokens, which could have a positive impact on their value.
There is speculation in the crypto community that the token-burning mechanism could put deflationary pressure on $GOLDEN, which would ultimately have a positive impact on its growth.
In addition, the Golden Treasury also functions as an incentive to the community to use and support Golden Inu’s dApps. The reasoning is simple: the more popular dApps like the Golden Inuverse become, the more profits $GOLDEN holders make.
As Golden Inu continues to develop its ambitious roadmap, the crypto sphere is eager to see how these utility-oriented initiatives will reshape the market and potentially set new standards for innovation and utility in the industry.
Golden Inu’s commitment to utility-oriented projects makes the company a serious contender and signals a paradigm shift in the evolution of the crypto market towards utility-oriented ventures.
