As the crypto market recovers from its recent downtrend, several trends have caught the attention of investors. Among those include the 100% spike in the Shiba Inu (SHIB) burn rate and the massive price jump of Axie Infinity (AXS). Meanwhile, in the play-to-earn (P2E) gaming space, Kangamoon (KANG) has raised the interest of gamers.
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Shiba Inu Burn Rate Spikes 100%
Since the layer 2 network, Shibarium, launched in August, there has been a noticeable uptick in the Shiba Inu burn. Following a 100% increase in the burn rate, SHIB recorded one of its biggest token destruction in September.
The community has intensified the burn of the Shiba Inu coin (SHIB) in a bid to recreate its remarkable 2021 price surge. Although not attempting to directly cause a Shiba Inu price rally, the team behind the project has outlined several projects in the works.
Between the fourth quarter of 2023 and 2024, the team will deploy ShibaSwap 2.0, a new token, TREAT, Shibahub, and a Metaverse platform. As a result, crypto experts have projected that the price of Shiba Inu could increase significantly as the project launches.
What is Behind the Axie Infinity Price Pump?
Like Shiba Inu, the Axie Infinity token is in the news for bullish reasons. The Axie Infinity price recorded a sharp increase, jumping by more than 20% to briefly touch the $5 resistance level, before retracing.
Similarly, the trading volume of Axie Infinity has been on the rise, increasing by a remarkable 1,000% to reach $190 million on September 15. According to on-chain data, the unique active AXS wallet addresses also increased by more than 75%.
With no significant news in the Axie Infinity game or the broader Axie Infinity marketplace, crypto analysts have linked the spike in activity to a potential short squeeze. Because this price surge isn’t sustainable, many crypto experts have advised investors to be cautious when approaching AXS.
Kangamoon To Offer Zero Buy and Sell Tax
The declining rewards and high tax fees charged in the blockchain play-to-earn (P2E) gaming space have been issues gamers have had to deal with for some time. However, Kangamoon is offering a solution to these problems with its new P2E gaming platform.
Kangamoon will be one of the few P2E games to offer attractive rewards along with 0% buy tax and 0% sell tax. By doing this, Kangamoon seeks to allow gamers and investors to maximize their gaming time spent within its thrilling boxing game.
In the exciting game, players will assume the role of Kangamoon, a kangaroo with a passion for boxing. As they journey through the thrilling gameplay, they will face several quests, challenges, and competitions.
Winning any of this competition will serve as an earning opportunity, allowing players to monetize their time and efforts. With its unique P2E model and priority of community, Kangamoon is becoming the preferred option for P2E gamers. Now in its first presale stage, the utility token of the ecosystem, KANG, retails at $0.005 per token.
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Source: https://www.analyticsinsight.net/crypto-news-shiba-inu-burn-rate-surges-axie-infinity-and-kangamoon-prices-ignites-p2e-gamers-curiosity/