Shiba Inu (SHIB) and Dogecoin (DOGE), two of the most widely known meme tokens, have shown signs of improvement since 2023 began. However, the price of a new cryptocurrency, Snowfall Protocol (SNW), has risen considerably faster than that of these meme coins, and is showing no signs of slowing down. In this post, we discuss the current state of Shiba Inu (SHIB) and Dogecoin (DOGE), as well as why Snowfall Protocol’s (SNW) success in 2023 would be far greater.
Shiba Inu (SHIB) burn rates make new records
So far this year, the Shiba Inu burn rate has increased multiple times, implying more SHIB coins have been delivered to dead wallets this month, as compared to December 2022. Shibburn reports that in the last 24 hours, the community has burned a total of 23,807,694 Shiba Inu (SHIB) tokens. Thus, compared to a few days ago, the rate of combustion increased by a whopping 937.64%. This isn’t the first time that Shiba Inu (SHIB) has experienced a massive burn rate. The Shiba Inu (SHIB) burn rate increased by 1395.89% in the first week of January 2023 as well. The Shiba Inu community sent over 37.4 million SHIB to the burn wallets in just 24 hours. Currently, Shiba Inu’s (SHIB) price has increased to $0.000010. Though a 2.16% surge has been witnessed in the last 24 hours, Shiba Inu (SHIB) still shows a decline of 66.38% in the yearly charts. Notably, Shiba Inu (SHIB) is also down by almost 70% from its all-time high.
Dogecoin (DOGE) goes down by 55%
Though Dogecoin (DOGE) didn’t have positive or bullish outlooks for the past two years, there are certain changes that may bring profits in the near future. In recent days, the biggest whales on Binance Smart Chain have started investing in Dogecoin (DOGE). This data is according to the wallet tracker, WhaleStats. The aforementioned portal also tweeted that Dogecoin (DOGE) was once again among the top 10 tokens sought after by BSC whales over the past 24 hours. Meanwhile, Dogecoin (DOGE) has been on an upward trend throughout the past week. Dogecoin’s (DOGE) price has increased by $0.0927 (or 19.54%) since the first week of January 2023. The price of Dogecoin (DOGE) rose from $0.07 to its current price of $0.086. However, Dogecoin (DOGE) has dropped by almost 3% in less than 30 days, and over 55% in the past year. Moreover, Dogecoin (DOGE) is quite far from its all-time high of $0.74, and it would take the token a long time to recover.
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Snowfall Protocol (SNW) wins investors’ interest with massive price gains
The basic concept behind Snowfall Protocol (SNW) is to enable users to connect their fungible and non-fungible assets across different blockchains. Snowfall Protocol (SNW) has designed an innovative canonical bridge concept to carry out such transactions. This bridge is interoperable with EVM and non-EVM chains. The whitepaper for Snowfall Protocol (SNW) has been released, and it shows a clear roadmap for the token’s future in the crypto industry. Investors are increasing their stakes in Snowfall Protocol (SNW) because of its wide set of features. Like many other successful tokens did in their early stages, Snowfall Protocol (SNW) is currently outperforming the market. Snowfall Protocol (SNW) team has revealed that the protocol would go live on February 3, with a price of $0.22, surging from its current price of $0.182. Snowfall Protocol (SNW) is expected to grow by over 5000% in the near future.
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Get in while you can and invest in Snowfall Protocol (SNW) today!!!
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
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Twitter: https://twitter.com/snowfallcoin
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCodex. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
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