The cryptocurrency world is abuzz with news of Uniglo’s major coin burn event: the project will eliminate all remaining tokens leftover from presale. Such action will likely push the price up sharply, with analysts predicting a movement of up to 10x or more. Let’s see how this compares to other options on the market, like Dogecoin.
Uniglo.io Burn Event
It’s official: Uniglo will be going ahead with a large-scale burn of native token GLO once the presale is complete. The decision was taken by the Uniglo community, who voted almost unanimously in favor. This is unsurprising, as historically extensive coin burning has resulted in highly profitable price boosts. Uniglo is a social currency, meaning major decisions are put to the holders, giving the community ownership over the direction of the project. Users can vote to buy back GLO to burn and to choose what to put in the GLO Vault. The Vault will house a wide variety of assets, spanning digital assets like cryptocurrency and NFTs and tangible assets like fine art, classic cars, and gold. The choice of treasure to invest in will be almost infinite, as so many collectibles can be obtained to appreciate over time.
What’s more, GLO is deflationary. It benefits from the Ultra Burn mechanic, which sees 2% of every transaction burned and thus ever-diminishing the supply. This rate accelerates the more GLO is bought and sold. In this way, a 10x estimate is somewhat conservative, considering the rapid adoption rate of the project. GLO saw a 55% uptick in price in presale alone, based on high demand.
Dogecoin is a beloved meme-coin that defied the usual fate of such coins (pump and dump) to become a great success. At launch, DOGE had a lot of zeros with an opening price of $0.0005. It trundled along relatively unheard of with little price movement, until it exploded in May 2021, reaching heights of $0.7. Dogecoin has benefited greatly from patronage from tech billionaire and Twitter owner Elon Musk.
While it is likely that Uniglo and Dogecoin will share the same trajectory of accomplishment and success, Uniglo has a far more interesting use case and has some unique features, like the GLO Vault and Ultra Burn mechanic. In addition, Uniglo will likely have greater longevity, particularly as the level of assets held will continue to grow parallel to the size of the community. So if you would like to join the Uniglo collective, act fast to grab your GLO at the most attractive price before the presale ends and the big burn event!
For More Information:
Join Presale: https://presale.uniglo.io/register
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