$PEPE Down 20% Over The Week, $GOLDEN [BEP-20] Token Holds High

The memecoin market is currently going through a retraction period, mostly due to the effects that the entire cryptocurrency market is suffering due to economic uncertainties in the Western economy.

Despite being a market that usually trades without as much pressure as assets like Ethereum and Bitcoin, memecoins are also seeing a growth in depreciation over the past weeks.

Throughout 2023, the token inspired by the iconic “Pepe The Frog” character captivated a massive following, gathering a lot of investors and multiplying its market cap tenfold.

Furthermore, many of the market-leading memecoins are also seeing an unusual depreciation. Dogecoin is down by 13% over the week, while Shiba Inu is dealing with yet another Shibarium mishandling, and is currently down by 20.9% over the same timestamp.

Golden Inu Holding On

One of the few memecoins to actually showcase resilience throughout the turbulent month of August is Golden Inu ($GOLDEN) token, based on the Binance Chain. 

In addition, the currency is technically still trading on an upwards momentum, trading at just below its recent all-time high record. 

Expected to launch around the end of August, the project’s new play-to-earn RPG is poised to debut its beta version to the public anytime soon.

In addition, the recent launch of a new token-burning mechanism called “Golden Treasury” promises to become one of the most active burning rates in all of the memecoin market. 

By allocating half of the total revenue generated from the project’s dApps to buy-back $GOLDEN tokens and automatically burning them, the Golden Treasury is shaping up not only to create a deflationary level ground for the crypto to grow but also to become a huge incentive for traders to try out and support Golden Inu’s applications.

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