IndustryTrends Published on: 30 Nov 2024, 8:10 am
In 2020, a $100 investment in Shiba Inu (SHIB) turned into an astonishing $35,255,683 as the token skyrocketed. Now, the question arises: which high-return cryptocurrency could repeat this performance over the next four years? Two contenders catching attention are Shiba Inu, riding on its ecosystem expansion, and Rexas Finance (RXS), a newcomer disrupting real-world asset (RWA) tokenization.
Shiba Inu: Sustained Growth Fueled by Burn Rates and Adoption
Shiba Inu’s price has surged by over 150% since August, trading at $0.00002735 as of November 23, 2024. This growth comes alongside a rising burn rate, which spiked by over 49,000% recently, with millions of SHIB tokens removed from circulation daily. Reduced supply continues to support price appreciation, creating scarcity in the market.
Shiba Inu’s adoption is also increasing with the development of its Layer 2 blockchain, Shibarium, which powers decentralized finance (DeFi) and dApps. These advancements enhance SHIB’s utility, drawing both institutional and retail investors. Analysts anticipate further bullish momentum, citing chart patterns like the bull flag and cup-and-handle, both of which suggest potential price breakouts.
