Shiba Inu (SHIB) Announces Network Updates as The Hideaways (HDWY) Announce 100% Bonus
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
The crypto market takes a break from meme tokens like Shiba Inu (SHIB). Many put their trust in new projects with better potential and stability like The Hideaways (HDWY) after a number of crypto fallouts this year.
Shiba Inu (SHIB) updates an impressive burn rate along with its growing number of wallet addresses. Still, short and long-term charts are in the red - a clear sign of the lack of investor trust.
Shiba Inu (SHIB)’s circulating supply is a problematic barrier to success. Over the past months, the SHIB community decided to double down on burning to compensate for the production and to keep the prices supported.
Shiba Inu (SHIB) holders are beginning to see the outcome of their effort. On-chain analysis reveals almost half of the meme token’s quintillion supply is successfully sent to defunct wallets.
Moreover, Shiba Inu (SHIB)’s wallet address hit 3 million, showing a growing trust in the token from the broader crypto community.
Despite its double win, Shiba Inu (SHIB)’s price remained in the red, having dropped 2.61% to $0.0000088 in the latest charts.
The meme token faces tough competition against a low-cap cryptocurrency with a better long-term potential, The Hideaways (HDWY), as the market looks for stability approaching the end of the year.
Shiba Inu (SHIB) is down 4.10% in the 7-day charts, representing a total loss of 73.75% this year. The meme coin failed to give us a good show throughout the 12 months of 2022, printing a cycle-low of nearly zero value in June.
The Hideaways (HDWY) is a newcomer compared to Shiba Inu (SHIB). But in terms of stability and long-term potential, it is far better than the meme
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