Shiba Inu Price Rebounds with Increased Token Burn Rate; Filecoin and InQubeta on the Cusp of Strategic Gains

Shiba Inu (SHIB) was recently all over the news after its price rebounded following a massive jump in its token burn rate. From January 22-23, 2024, its token burn rate rose to 459% but later came down to 148%. 

The rise helped Shiba Inu’s price rebound and shift crypto enthusiasts’ attention away from investing in BTC ETFs. 

Shiba Inu isn’t the only altcoin that has been in the news due to their rallying prices recently. InQubeta (QUBE) and Filecoin (FIL) both have been rising steadily and have fetched substantial gains for their holders. 

InQubeta’s market success comes shortly after it made waves with presale success. So far, its cryptocurrency ICO has raked in over $8.5 million.

InQubeta: An AI-focused investment portal for startups

InQubeta has carved a niche for itself with an undemanding investment mechanism catering to fundraising for AI startups. It’s cost-friendly, easy to use, and devoid of any confusing formalities. Its native cryptocurrency, the QUBE token, takes care of all payments to further simplify operations. \

With a supply of 1.5 billion, the QUBE token is built on the ERC-20 standard. The asset has an important role in the governance structure and gives token holders rights to participate in decision-making. The InQubeta team organizes voting processes to implement key decisions on new features or protocol upgrades where token holders use their special vote privileges.

Since its launch in 2023, InQubeta has been able to stave off competition from new altcoins with its range of business development services. These services help young enterprises become more confident and ramp up their reach. 

One of the platform’s most demanded services is mentorship support where startups can interact with AI experts to learn more about the industry and gain insights.

To help startups navigate through legal and financial issues, the platform has a team of advisors offering accounting support. There are also marketing services available that enable startups to grow their brands by networking. They get to leverage InQubeta’s social media channels to create awareness about their projects. 

Filecoin sends IPFS files to space 

Filecoin is a decentralized platform offering cloud storage services to developers. It enables developers to store and retrieve their data with an efficient protocol. It ensures security storage by using cryptographic proofs and content addressing for confirming data. Its native token is FIL.

Leading with stellar gains, Filecoin is among the top cryptos to invest in this year. According to analysts, it also might be a good time for FIL patrons to consolidate their holdings. 

The platform recently unlocked a new milestone after it deployed the InterPlanetary File System (IPFS) in space. As part of the mission, Filecoin sent files into orbit and back using a special IPFS implementation created for space communication. Filecoin used software created by Lockheed Martin for the mission.

Shiba Inu’s Shibarium transaction growth crosses 300 million

Shiba Inu is a meme coin inspired by a dog breed native to Japan. For transactions within the network, the platform has created a native token called SHIB. For governance, another token BONE is used. A third token, known as LEASH, is used for rewarding long-time Shiba Inu supporters. 

After a brief lull, the SHIB token is now back in the game after its burn rate jumped to as high as 459% between January 22 and 23, 2024. The surge has helped the meme coin recapture its hold over the market. Analysts monitoring its movements suggest that a full-price recovery was very much on the cards.

With its foray into DeFi solutions, Shiba Inu is trying to encourage more innovative use cases with its protocol. It is currently working on the launch of Shibarium, an Ethereum-based Layer 2 solution for developers. The solution was rolled out to lower the gas fees for the Shiba Inu ecosystem.

In a tweet on January 23, 2024, the Shiba Inu team announced that Shibarium’s transaction growth had crossed 300 million. 

Conclusion

Shiba Inu, InQubeta, and Filecoin were some of the best altcoins of 2023 and have continued their successful streak well into 2024. These cryptocurrencies leverage the versatility of DeFi to cater to different user groups while driving financial inclusion. 

These coins are built with utility-centric models which make exploring cryptocurrencies a fuss-free experience. What further bolsters one’s confidence in these crypto projects is their security frameworks which have been reviewed by top-notch blockchain audit companies.

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