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Meme Coins Making a Comeback in 2022 With Recent Developments


thenewscrypto.com 26 March 2022 16:58, UTC
Reading time: ~2 m

  • Over 230 million SHIB tokens have been burnt in the last few days.
  • So far, around 41% of SHIB’s original supply has been burned.

Since yesterday, the price of Dogecoin has been rising. While rallies like these are typical for meme coins, they have a clear rationale. After announcing that it will allow Dogecoin on its machines, finch business Bitcoin of America gave the meme currency it’s a blessing. Investors may now buy digital assets anytime they want because of this.

Cryptocurrency ATMs owned by Bitcoin of America, a financial technology business, are located throughout America. These 1,800-plus ATMs enable customers to buy bitcoin and other cryptocurrencies whenever they wish to use a debit card or simply cash.  There were no other cryptocurrencies available to clients until last October when support for Ethereum was added to Bitcoin and Litecoin. Adding Dogecoin to the list brings the humor currency closer to millions of American investors.

SHIB Token Burn

SHIB (SHIB) holders are committed to stabilising the meme coins supply so that it becomes lucrative. Over 230 million SHIB tokens have been burnt in the last few days, according to statistics from Shibburn. Over 168 million SHIB tokens were burned in a single transaction by a program that monitors transfers of SHIB tokens to “dead wallets.” The SHIB token burn rate decreased by 86.23 percent, burning about 32 million tokens on the last trading day. Famous analyst Lark Davis tweeted whether meme coins will make a comeback in 2022.

Are meme coins going to make a comeback in 2022? $shib $doge $floki

— Lark Davis (@TheCryptoLark) March 26, 2022

The community is doing token burning to lower the initial supply of SHIB, which was set at one quadrillion. So far, around 41% of this original supply has been burned to enhance the token’s value.

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