An overview of the 3 fastest growing coins: Dogecoin (DOGE), Shiba Inu (SHIB) and Gnox Token (GNOX)

The crypto space is a new Wild West. The digital gold rush has attracted people from all walks of life, many of whom don’t really understand the practice of investing. This is made all the more clear by the fact that two of the fastest growing cryptocurrencies are so-called “Meme Coins”. This means that people buy them for their fad rather than their staying power.

However, there is another token that is rapidly increasing for exactly the opposite reason. While the Dogecoin and Shiba Inu tokenomics make these assets volatile and risky, a new coin on the scene appears to have found a way to greatly reduce risk while incentivizing early adoption and long-term hodling behavior.

Dogecoins (DOGE)

Dogecoin (DOGE) was originally developed as a spoof crypto token. Although it started as a joke, today it is a top ten cryptocurrency by market cap with almost iconic status. DOGE is based on the same technology as Bitcoin and Litecoin. However, Dogecoin’s developers were able to make the blockchain faster and more affordable.

Unlike most cryptocurrencies, Dogecoin does not have a maximum supply. More than 14 million tokens are created every day. At the time of writing, there are approximately 131.28 billion DOGE in circulation. An estimated 0.002% of Dogecoin wallets contain two-thirds of the total DOGE in circulation.

A big part of Dogecoin’s success is the attention it’s getting from Tesla’s Elon Musk. Tesla recently announced that it will accept DOGE for some of the goods in its online store.

Shiba Inu (SHIB)

The Shiba Inu Coin (SHIB) was created anonymously by “Ryoshi” in August 2020. Another dog-themed meme coin, similar to DOGE, SHIB quickly gained popularity.

When the token was launched, Ryoshi gave 50% of the supply to Ethereum founder Vitalik Buterin. Shiba Inu public awareness and price soared after Buterin burned 90% of its supply (which would have been worth billions of dollars). The remaining 10% was donated to charities.

A key reason for SHIB’s popularity is the project team’s ongoing efforts to integrate utility into the token. The Shiba Inu ecosystem now includes a decentralized exchange called ShibaSwap, a Metaverse presence, a DAO, and more.

Gnox Token (GNOX)

Gnox is a unique DeFi utility token. The project aims to make DeFi investing easy for both first-time and experienced investors. Everyone who buys and holds the GNOX token participates equally in a stream of passive income. Current income is generated by investing funds from a treasury in staking opportunities, liquidity pools, and lending protocols. The profits are then shared among the GNOX holders on a monthly basis.

The treasury is funded by a 10% “tax” on all transactions. Initially, 6% flow into the investment pool. Another 1% is redistributed back to the Hodlers every 60 minutes. The remaining 3% is used for marketing and operations. This 10% tax regime not only benefits early adopters and long-term holders, but also discourages day traders and swing traders from causing volatility in the price of the GNOX token.

Although the platform doesn’t launch until July 18th, GNOX is currently in ICO mod. Early adopters can learn more about the Gnox plan and buy the coin on the platform’s website.

Learn more about Gnox:

Join the presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://titter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io/

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