There is a general bearish dominance in crypto markets today. The total market capitalization fell 3.99%. But there is one meme coin that is challenging this decline: Shikoku (SHIK). The new Shiba Inu clone Shikoku (SHIK) started the day at $0.00000001075 and managed to climb up to $0.00000001669. This means that SHIK experienced an increase of over 55%.
A recent review by the meme coin team to update According to the report, 300,000 worth of SHIK tokens were burned. While this amount may seem small, it has a significant impact on the token with a market cap of just $14.9 million. It can be said that this development has a positive effect on the price.
Shikoku Inu (SHIK) is a project built on the Ethereum blockchain and aims to provide a decentralized platform for trading goods and services using SHIK tokens. Its developers designed this platform to promote the adoption and use of cryptocurrencies.
Koinfinans.com As we have reported, one of the unique features of the Shikoku Inu is the “burn and win” mechanism. This feature encourages users to hold and use SHIK by burning a small percentage of transaction fees, increasing the value of SHIK tokens.
With its community-focused approach, unique features, and experienced team, according to some community members, Shikoku Inu could be the next SHIB in the meme coin world.
Is the SHIK Rise Permanent?
Although meme coins have entered the crypto markets as a joke, there have been successful projects that have attracted attention over the years. But it is worth saying that the increase in most meme coins is not permanent.
While older meme coins like Dogecoin (DOGE) have made many investors profit, newer entries like the Solana-based BONK have occasionally failed. At this point, SHIK investors should be careful.
You can follow the current price action here.