Shiba Inu (SHIB) has taken off recently with some interesting developments that have the dog meme community excited again.
We are seeing a massive increase in its burn rate, which could drive SHIB to new highs.
At the same time, there is a new project that could be worth a look – Pluto Chain ($PLUTO).
Let’s see the details!
SHIB burn rate exceeds all expectations – could it be the next coin to explode?
Something big just happened with SHIB’s burn rate: we’re talking about a 6,000% blowout in a single day, with almost 300,000 tokens burned.
Basic economics tell us that when you reduce supply while demand remains stable or increases, you might see an interesting price movement.
The crypto community is certainly paying attention to this one. Carl “The Moon,” a UAE-based crypto influencer, made headlines when he announced that he was holding his SHIB for the long term, with some pretty ambitious target prices in mind.
SHIB has also been holding strong lately – up around 50% over the past month, trading around $0.00002668. Technical signals look positive, with interesting patterns forming.
We are also seeing increased activity from large holders accumulating SHIB, which could be a sign that something is brewing.
What’s really interesting here is what this means for meme coins in general. The massive burn rate and support from some popular influencers shows that these tokens could become something much bigger.
People are starting to look more closely at things like usage and community engagement rather than just the hype factor.
With all these factors, Shiba Inu is on track to lead the next rally and surpass its impressive 2021 performances – but underdog projects like Pluto Chain ($PLUTO) could be interesting for users and builders who want to get involved in an early presale within the Bitcoin ecosystem.
Let’s check it out!
PlutoChain ($PLUTO) Brings Innovative DeFi Features to the Growing Bitcoin System
Even though Bitcoin still dominates the industry, it has barely touched the DeFi space that Ethereum rules. It’s there Pluto Chain ($PLUTO) comes up with new ideas.
It is building a layer 2 solution that seeks to integrate smart contracts and DeFi directly into the Bitcoin network. Currently in its early stages, this project leverages Bitcoin’s famous security while opening up new DeFi possibilities.
A key feature is the emphasis on keeping fees low – something everyone in this industry can appreciate. Additionally, it made it compatible with the Ethereum Virtual Machine (EVM), making it easier for Ethereum-based DeFi applications to move to the Bitcoin network.
Exploring the New Possibilities of Bitcoin’s Potential
Here’s a crazy statistic: only 0.13% of Bitcoin’s market cap is used in DeFi, compared to 10% for Ethereum. This is a huge gap that could represent a real opportunity.
The growth potential here is substantial, especially given Bitcoin’s massive market presence and well-established reputation in the industry.
PlutoChain has also worked on security – it has undergone a SolidProof audit proving its security. The vision includes deploying testnets, building cross-chain bridges, and launching the mainnet.
The community is quite active on Twitter, Telegram, and Discord, where key contributors keep everyone informed and participate in technical discussions about the development of the platform.
They have established a governance system where token holders can have a say in development decisions and shape the future of this project.
$PLUTO attempts to solve problems faced by Ethereum-based projects
The crypto scene seems pretty lively at the moment. Shiba Inu keeps its community engaged, while PlutoChain brings something new with its Bitcoin-focused DeFi approach.
The project could generate significant buzz when its mainnet launches, given its unique position in the market.
General market conditions appear to favor new projects, especially those that solve real challenges in the blockchain space.
What sets PlutoChain apart is its focus on solving real-world technical problems: the platform architecture is designed to handle the complexities of transitioning Bitcoin to smart contract functionality while maintaining security and efficiency.
Its approach to scaling and cross-chain compatibility could open up new possibilities for Bitcoin holders wanting to participate in DeFi protocols.
The essentials
SHIB’s recent 50% jump over the past month shows that there is real momentum in the market. While almost all major assets are showing strength, the community at large is also keeping an eye on new developments.
Pluto Chain ($PLUTO) could gain traction upon launch with its plan to create a hybrid layer 2 solution for Bitcoin.
It is supported by core contributors focused on expanding Bitcoin’s capabilities and building a more efficient blockchain ecosystem.
The presale now provides a lower entry point, inviting developers and users to quickly engage with PlutoChain.
Visit the links below to learn more about PlutoChain and its unique features:
Official website: https://plutochain.io
Page X/Twitter: https://x.com/plutochain/
Telegram channel: https://t.me/PlutoChainAnnouncements/
This article does not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. All forward-looking statements involve uncertainties and cannot be revised.