The crypto market has suffered a brutal couple of days. Ethereum saw a double-digit sell-off, which pushed it below $2,500. As ever, memecoins were not left unharmed by the flood of red candles. Major names, including PEPE, SHIB, and DOGE, all took a hit, and questions about whether they will get anywhere near their all-time highs before the end of this year are beginning to flood social media.
Despite the blood-red market, the Infinaeon presale has pushed on and actually gathered pace. One of the reasons analysts believe that the Infinaeon project appears to be immune to market volatility is its token burn mechanism. According to the team, community, and growing list of KOLs, this burn mechanism has the capacity to boost the value of the Infinaeon token.
Let’s dive into a bit of market analysis, focusing on the memecoin price crash, and then get our heads around how Infinaeon continues to defy expectations.
Memecoin Price Crash Leaves Traders Facing Double Digit Losses
It’s been a rough few days for crypto, and holders of the most recognized memecoins have been hit especially hard. As is often the case, these highly speculative plays have the capacity to fly high but also tank in the blink of an eye.
The DOGE price has dropped by over 7% in the past 24 hours. This knocked off nearly $1 billion from its market cap. As of writing, the leading dog-themed memecoin is down over 25% in the past month and trades at nearly 90% below its all-time high. It does feel like DOGE may not be able to form a new positive trend without some sort of catalyst.
Shiba Inu (SHIB), often seen as DOGE’s little brother, is also down around 7% in the past 24 hours, bringing its market cap to around $8 billion. The project has rallied hard this year, posting 70% gains, but it’s still well below its all-time high and has been slipping down the list of top cryptocurrencies by market capitalization.
PEPE’s price has crashed by 12%. The frog-themed memecoin’s short-term chart looks scary, but if we zoom out, it’s actually one of the few major memecoins that has managed to post really big returns. It’s up over 700% year-on-year, and its market capitalization has held at just over $3 billion.
While the memecoin market grapples with uncertainty, Infinaeon is making waves. Its unique approach to layer-2 scaling and innovative tokenomics have shielded it from the broader market downturn, helping it stand out.
Infenaeon Presale Pushes on Despite PEPE Price Crash
The Infinaeon presale has been gathering pace despite the broader market struggle. The project has seen the activity in its social media channels swell. Users are generally excited to be involved at the early stages of a presale that many believe could end with the token becoming a leading Ethereum layer-2 scaling solution. The market is particularly excited about the burn mechanism that is designed to support the price of the native token.
Infeneaon Token Burns Explained
Infinaeon utilizes a unique Ethereum gas fee management system that makes way for a burn mechanism designed to positively impact the value of the layer-2’s native token.
A portion of the gas fees collected on the Infinaeon network is automatically allocated to a smart contract. These accumulated fees are then used to buy back Infinaeon tokens from the open market. Subsequently, these repurchased tokens are permanently removed from circulation through a process known as burning.
This burn mechanism creates deflationary pressure on the Infinaeon token supply. As tokens are continuously removed from circulation, the overall supply decreases, increasing the scarcity of each remaining token. Basic economic principles suggest that when supply decreases, and demand remains constant or increases, the price of the asset tends to rise.
Infinaeon’s value proposition extends beyond its burn mechanism. The project offers a comprehensive layer-2 solution that aims to address the scalability and cost challenges faced by Ethereum. It provides a platform for developers to build and deploy decentralized applications (dApps) with faster transaction speeds and lower fees, enhancing the overall user experience.
Moreover, Infinaeon’s auto-compounding staking mechanism allows token holders to earn rewards simply by holding and staking their tokens. These rewards are funded by the platform’s revenue.
Final Thoughts on the DOGE, PEPE, SHIB Price Crash, and Infinaeon’s Presale
There’s no doubt that memecoins like PEPE and DOGE have often allowed traders to rack up major gains. That being said, the past few days, weeks, and months have not been a fun ride for anyone holding these coins, as they appear to be overly sensitive to market volatility. This might explain why so many traders are now looking at presales for major gains instead of memecoins. The Infinaeon presale has quickly become one of the most talked about due to the project’s unique layer-2 solutions and token burn mechanism.
Join The Infinaeon Presale Now
Presale: https://presale.infinaeon.com/
Telegram: https://t.me/Infinaeon/
Discord: https://discord.com/invite/WSy65uAYfd X: https://x.com/Infinaeon
