As of September 2023, the landscape for the memecoin market provides an interesting perspective for investors.
In the past, these types of joke-inspired currencies were often disregarded by investors due to their utter lack of real-world use. However, as the market develops, up-and-coming projects like Golden Inu, as well as already established Shiba Inu battle in the realm of memecoins in order to provide the best Web3 products and the most profits for its holders.
Throughout the years, Shiba Inu made a name for itself as the fastest-growing memecoin to appear since Doge. In addition, the project also worked on launching its own blockchain named “Shibarium”.
However, the launch of Shibarium has been plagued with recurring errors and flaws that led to many losing faith in the project. A couple of weeks ago, the much-awaited launch of the Shibarium had to be postponed after millions in investor’s assets were lost in an Ethereum bridge inside the blockchain.
But that is not to say Shibarium has not had its positives. The blockchain recently reached a milestone of one million wallets
However, this rise in users has not been reflected in the price of the token. As of the past seven days, $SHIB is down by nearly 3%, while the monthly chart shows an even worse 20% devaluation on the price of the currency.
What is interesting is that Shibarium’s repeated disappointments throughout 2022 and 2023 have led a group of former $SHIB investors to create a currency of their own. The Golden Inu token, a project launched in February of this year aims to “replace” Shiba Inu’s status as the most utility-focused memecoin.
Throughout the months, Golden Inu has been able to make a mark for themselves even when competing with already-established tokens. From June to August, the currency cemented itself for being one of the most profitable assets to hold in that time frame, rewarding its investors with yields as high as 1300%.
In addition, the project has also undergone several different security audits in order to guarantee investors that Golden Inu is not only safe to invest in but also constantly working on creating a better code for its token to thrive.
How Golden Inu Will Look To Become The Most “Useful” Memecoin
While most competitors in the memecoin market bank on “internet points” alone to do their bidding, Golden Inu has developed a unique roadmap that includes several different applications that promise to enhance the value of its currency, $GOLDEN.
As of today, September 11, the project is on the verge of launching a new play-to-earn game called “Golden Inuverse” that provides the chance for gamers to earn GOLDEN while also engaging in a new RPG.
Looking ahead, Golden Inu is also set to launch new dApps, including a DeFi Marketplace named “Golden Bazaar” that will not only allow users to buy and sell products via $GOLDEN but also provide a DeWork platform for those interested in embarking on a Web3 professional career.
Challenging ShibaSwap, developers will also work on creating a new decentralized exchange that will put to use the project’s multi-blockchain capabilities in order to allow the crypto community to swap multiple tokens in a cheaper and more decentralized way by using $GOLDEN as a bridge.
Golden Inu Technical Analysis Shows Upcoming Bullish Run
Turning our attention to technical analysis, $GOLDEN exhibits promising signs of an impending bullish surge, reinforcing the optimism surrounding its future. The Moving Average Convergence Divergence (MACD) indicator is a valuable tool for cryptocurrency traders.
The MACD, known for deciphering potential shifts in price trends, currently reveals favorable indications for $GOLDEN. When the MACD line crosses above the signal line, it typically signals a shift from a bearish trajectory to a bullish one.
In the case of $GOLDEN, the MACD signal hints at an oncoming golden trend that could be right around the corner. Of course, technical analysis alone isn’t enough to predict a trend. However, pairing the recent performance of the $GOLDEN [BEP-20] token with upcoming developments poised to enhance the value of the currency, GOLDEN holders will likely experience significant profits in the shortcoming future.
dApps Fueled By The Golden Treasury
One of the most captivating features of the Golden Inu project is its unique token-burning mechanism.
ubbed “Golden Treasury” this smart contract allocates 50% of the total income generated from the project’s dApps in order to purchase $GOLDEN tokens in circulation and autonomously burn them.
The burning process is expected to start alongside the launch of the Golden Inuverse game on September 21st.
A notable aspect of this approach to fostering a deflationary environment within the project’s ecosystem is its synergy with Golden Inu’s decentralized applications (dApps). Under this methodology, as Golden Inu’s dApps flourish and generate greater prosperity, the value of its native currency experiences corresponding enhancement.
As of today, investors have the chance to invest in the project before it starts autonomously burning tokens. Further down the line, Golden Inu holders will have the chance to see their initial investments flourishing by the effects of the Golden Treasury.
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