After an early August pump, Green Shiba Inu has continued its downtrend, to new 2022 lows. Was GINUX (rebranded from GINU) a scam project?
Green Shiba Inu coin briefly bounced back above $0.0000003 this week before immediately retracing all of its gains this month in a sharp 25% selloff, also down over 8% today.
Why is Green Shiba Inu Coin Going Down?
The Green Shiba Inu chart is so bearish it’s beginning to resemble a pump and dump or ‘rugpull’ meme coin – unfortunately some meme tokens are scams or end up abandoned by the developers.
Green Shiba Inu price chart August 2022
One red flag was that GINU was launched on May 14th 2021, on only one small DEX, BakerySwap, and wasn’t approved for CEX listings (centralized crypto exchanges).
The rebranding and token migration to GINUX then took place June 10th 2021, and the token supply was inflated to 10 trillion – another red flag, and reminiscent of Terra (LUNA) forking into a new coin then the price still crashing further after one pump (GINUX pumped 700% in November 2021).
Market data is now untracked for the old Green Shiba Inu (GINU). The project began with the aim to be an eco-friendly cryptocurrency, a ‘fully decentralized and fairly distributed zero-emission community token on the Binance Smart Chain (BSC) disrupting the meme economy to protect the environment.’
How to Buy Meme Coins Early
It is possible for high supply meme coins to reach high valuations – Shiba Inu has a 1 quadrillion supply and still has a market capitalization of $6.5 billion today, although it is down 87% today from its all time high, where most retail investors will have bought it.
Dogecoin has a 132 billion supply (after inflation from its initial total supply of 100 billion) and still has a market cap of $9.1 billion today, being down 91% from its ATH of 74 cents on Binance.
Most beginner crypto investors attracted by the mass appeal of meme coins will be down on their investment having bought during the DOGE and SHIB bull run rather than early on in the project.
The best investing strategy for any cryptocurrency, but especially meme coins, is to buy low, sell high – invest early in a new crypto project with a meme theme before the rest of the herd.
Also stick to cryptos that have a fixed maximum supply, i.e. are not inflationary. The newest meme coin we’ve reviewed on this site is Tamadoge which is deflationary (with a 5% token burn on Tamadoge store transactions), and has a capped max supply of 2 billion TAMA tokens.
Newest meme coin Tamadoge
TAMA also has a clear utility – as the rewards token of an upcoming play to earn crypto game. Little information was available on the use case of Green Shiba Inu as being more environmentally friendly.
The main selling point however is it began its presale in July, offering a low price entry point. Few investors take the time to research crypto presales, ICOs or private sales and end up buying too late into a bull cycle when coins are overvalued based on hype and FOMO.
The Tamadoge presale at buy.tamadoge.io has currently raised over $500,000 and is also in its beta sale phase during which the TAMA presale price is discounted 25%.
The Tamadoge team have also already confirmed a CEX listing for after the presale – on LBank – as well as Uniswap DEX. Being listed on two exchanges from the outset will increase trading volume.
Green Shiba Inu Price Prediction
Is Green Shiba Inu dead? Its 24 hour volume according to CoinMarketCap is now just $10, a 60% drop today – buyer activity has tanked. Its circulating supply is also self-reported on CMC – a third red flag.
GINUX coin volume
It’s not clear what happened to Green Shiba Inu for the price to crash so much – since its all time high of $0.000035 it added another zero, then another, and is now down almost 99.5% trading at a GINUX price today of $0.00000024. The GINUX live market cap is now just $2 million.
Unless the team – which are still active on Twitter, although a lot of their engagement looks like bots – deliver on their roadmap, there’s little bullish case for GINUX token at this point, its price chart is one of the most bearish of all meme coins on the market.
Tamadoge (TAMA) – Next Big Meme Coin
- Beta Sale Ends Sept 2022 – tamadoge.io
- Deflationary, Low Supply – 2 Billion
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets – Potential for Mass Adoption
- Play to Earn Utility – Rewards Token