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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 incentives give them a way to recoup their mounting losses. Currently, most SHIB holders are holding heavy bags and in the red after the March 2024 pump.
Rollblock presale draws whale activity
Merging the worlds of iGaming and Web3 under one no-KYC crypto casino and boasting a robust DeFi platform, Rollblock is creating a GambleFi protocol like no other. Not only will holders be able to wager on a world of online casino and sports betting markets, but they will also be able to earn passive income from staking and revenue sharing paid out on a weekly basis.
Thus far, early Rollblock holders are already up by over 100% in programmed token price increases. Users could stand to gain much more once the presale progresses to its closing stages—and once it finally lists on exchanges worldwide.
Memecoins that have already peaked like Shiba Inu are yesterday’s news. Rollblock, meanwhile, has all the qualities of a 100x gem in the making—not to mention passive income and revenue sharing incentives galore.
The bottom line
Buying Shiba Inu in 2024 appears to be a losing proposition. Users might not be able to make parabolic gains with a token that’s already gone parabolic. Rollblock, meanwhile, hasn’t even come remotely close to peaking. Between Shiba Inu and Rollblock, investors are now opting for this new contender.
To learn more about Rollblock, visit the website and socials.
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This article first appeared at crypto.news
