There are many different ways that crypto projects can induce an increase in price, with token burning one of the most clear-cut ways to achieve it. This is because burnt tokens are taken out of the circulating supply, transferring their value to the tokens that are left.

This is one approach taken by the popular meme coin project Shiba Inu, which has seen more than 380 billion SHIB tokens burned since Ethereum founder Vitalik Buterin burned his bag of 410 trillion tokens back in 2021.

With a total supply of a quadrillion tokens, though, the burns aren’t making much difference to the Shiba Inu price prediction, and with some incredible new projects offering the potential for unheard-of gains, the likes of new disruptor Metacade are drawing in many SHIB holders.

Is Metacade’s utility what sets it apart?

While meme coin projects like Shiba Inu try to create a token utility to regain momentum or rely on the headlines that come through one-off token burns, it is difficult for the projects to continue to find buyers due to the lack of progress made in their ecosystem.

Projects with grand ambitions, utilizing tokens that have a high level of utility, are in a far stronger position because the token price can be driven upwards even in the coldest crypto winters through the platform usage that the token fuels.

Metacade is a prime example of such a project and a rare opportunity for those investors who have digested the contents of the whitepaper and decided to buy into a high-potential project at the earliest stages.

The plans the Metacade team has outlined are a big part of the huge success of the presale so far, which has raised a fantastic $5.4m at record speed in its presale. This level of performance is not often seen and is a clear indicator of the potential that many believe the project holds for substantial gains.

What is Shiba Inu (SHIB)?

Shiba Inu is a meme coin project on the Ethereum blockchain, having followed in the footsteps of Dogecoin as a project headed up by a friendly cartoon Shiba Inu dog.

Shiba Inu began with practically no utility, although since picking up speed as a project that aimed to replicate the success of DOGE on a more flexible chain, the Shiba Inu team has built a DeFi ecosystem in order to tie the token to a functioning product.

Shiba Inu price prediction general: Can SHIB make a comeback?

Shiba Inu has paid the price for its limited utility with a dramatic fall in price since the 2021 bull run. The difficulty the project faces now, impacting the Shiba Inu price prediction, is how much further it can really go from a utility perspective, with very little to differentiate it from others in the DeFi space.

The Shiba Inu price prediction is looking bleak, and if SHIB can hold the price of $0.000009 throughout 2023, it would be a win for the project. The one chance the project seems to hold for the future is a SHIB-specific layer-2 solution called Shibarium, which could allow for more accessibility to smaller investors put off by Ethereum transaction fees.

If Shibarium can help SHIB regain momentum, it’s possible that the price of SHIB will double by 2025 to $0.000018, but the project needs to achieve much more in the next year or two to give itself the chance.

What is Metacade (MCADE)?

Metacade is wowing investors with its plans to build a huge play-to-earn arcade, allowing gamers of all kinds to earn income from their favorite pastime, whether through playing games casually, in tournaments, or even through competitive ladders to reach the top of the leaderboards.

The platform is set to incentivize engagement through a comprehensive rewards mechanism, even through non-gaming activities that contribute to the platform’s user experience, such as writing content or engaging with the community.

How does MCADE work?

The powerful utility token, MCADE, is used as the currency of the platform and is used for all user purchases and rewards. The token also affords holders governance rights, such as in the Metagrants program that allows the community to assess game prototypes so that MCADE holders can vote to distribute development funding, helping direct the future of the online gaming library.

Investors are able to stake their MCADE for passive income that is issued in stablecoins so as not the dilute the overall supply, and this makes the project even more appealing to investors looking at the high-quality investment choice.

The project has a clear plan for future self-sufficiency, which is a critical component of a project set to see dramatic growth in users. Several external revenue streams, including a game launchpad and on-platform advertising, have already been identified as part of the cohesive plan that looks set to shake up the online gaming world as we know it.

Metacade price prediction general: Can MCADE 100x in 2023?

The high potential that Metacade has shown is reason alone that many investors believe MCADE could rise 100x after the presale has been completed, putting MCADE at $2 per token — a prediction far more bullish than the Shiba Inu price prediction.

With such high potential and a feeling of inevitability about the huge user growth the platform could see, it seems possible for MCADE to reach $5 by 2025, and beyond that, sky is the limit.

You can participate in the Metacade presale here.

Last week, Robinhood’s third-quarter earnings fell well below Wall Street estimates, causing the company’s share price (HOOD) to sink more than 10%. With crypto trading down 78% from the prior three-month period, the company needs to lure more investors to use their platform, especially for trading cryptocurrency.

Now it’s offering free dogecoin (DOGE-USD) along with BTC and ETH through a sweepstakes in partnership with fast-food giant Burger King, which is owned by Restaurant Brands International (QSR). 

“Crypto is fun. It’s also deeply technical. Finding ways to make it more accessible, to break down that emotional barrier for people getting involved in the market, is something that we’re constantly prioritizing,” Christine Brown, Robinhood Crypto COO, told Yahoo Finance.

Robinhood’s bet on whether a Burger King Whopper can lower the inhibitions of new traders on the fence about crypto might not seem like the most obvious manifestation of its mission to “democratize finance.” But Brown said that like dogecoin itself, the sweepstakes could make crypto seem less intimidating.

“It’s a beautiful mission but their business model is set up completely contrary to the mission,” said Chris Schwarz, associate professor of finance at the University of California, Irvine’s Paul Merage School of Business. Based on his research, Schwarz pointed out that Robinhood’s business model over the past year has relied on bringing a steady stream of first-time traders into the markets.

Added to that, Schwarz recently co-authored a study for the Journal of Finance that found the way information is displayed in the Robinhood app affects user purchasing, driving new investors to herd into assets after their prices rise. It can ultimately lead to negative returns.

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“That’s an unsustainable business model because, basically, you need the same group of people who continuously believe that one of these times it’s going to work, or alternatively, you need fresh, new people to come in and play the game,” Schwarz told Yahoo Finance. “And there’s probably a finite number of people that are willing to do that.”

Odds on doge

Through Nov. 21, Robinhood is giving Burger King’s most loyal customers odds to win free cryptocurrency. Burger King customers who sign up for the restaurant’s BK Royal Perks loyalty program have the chance to win doge, ethereum and bitcoin after making a Burger King purchase of $5 or more.

At 1:1 odds, the sweepstakes is heavily stacked in favor of giving participants free dogecoin while prizes last. The chance of actually winning ether or bitcoin is far lower, at a respective odds of 1 out of 10,000 and 1 out of 100,000.

Apart from its value adding up to less than a dollar, this majority dogecoin sweepstakes plays into the profits Robinhood already booked from listing the asset.

Over the past year, the price of Dogecoin spurred more downloads of Robinhood’s mobile app according to data from Apptobia and Yahoo. In Q2 2021, 62% of Robinhood’s revenue from crypto came from customers trading dogecoin, but the company reported a sharp drop in crypto trading for the third quarter. The platforms application downloads

Meanwhile, many Robinhood customers have moved onto the new dog meme-themed shiba inu coin (SHIB-USD), and are demanding the company offer it to trade showed major demand for the company to add a new dog-themed cryptocurrency. The dogecoin derivative gained 82% in value over the past week, outpacing dogecoin, with Robinhood capturing none of the frenzy.

Robinhood’s Q3 revenue was up 35% to $364.9 million, compared to $270 million in Q3 2020. However, its drop below Wall Street estimates of $423.9 million still has some analysts wondering what revenues from a normalized level of trading on the platform is supposed to look like.

“Where are people going to engage whether it’s in equities or crypto? What does that imply for activity, new user account growth and longer term, the story around the development of other products and services,” JMP Securities analyst Devin Ryan told Yahoo Finance last week after the HOOD earnings call. “Trading is important today … but the bigger picture here is what type of connectivity do they get launching new products,” Ryan said.

While Robinhood customers want the platform to add new cryptocurrencies like SHIB, the company is actively developing new crypto features such as a much-anticipated crypto wallet service in addition to 24/7 phone support.

“We’re aiming to deliver great new crypto features for customers while being mindful of keeping our platform safe and introducing products that comply with legal and regulatory requirements,” Robinhood’s CEO Vlad Tenev told investors last week during the company’s earnings call. Tenev admitted that for crypto “the regulatory landscape is uncertain.”

Pablo Babtista, 26, supports himself by actively trading stocks and cryptocurrencies full time. “They are kind of late to be working on [crypto wallets] so I feel like that’s definitely hurt the confidence of their user base,” he told Yahoo Finance.

When the pandemic ended his tenure as a line cook in a Manhattan restaurant, Babtista originally bought his first cryptocurrencies through Robinhood. In February, he switched to using Coinbase and online brokerage WeBull because Robinhood didn’t have a crypto wallet service or the more technical market data he wanted.

“I think the Robinhood interface is definitely beginner friendly but in terms of crypto the main issue was transferring assets off the platform,” said Batista.

On the other hand, 31-year-old Mark Mulloy, another full-time investor who’s been a Robinhood customer since 2015, said he’s tried several other crypto exchanges and stock brokerage services like Coinbase, Crypto.com, TD Ameritrade and Fidelity, but likes Robinhood best.

“I came for the zero-commission trading, I stayed for its user-friendly interface and efficiency for executing orders, and I just feel like a lot of those other platforms make you jump through all these extra hoops to withdraw your money,” Mulloy told Yahoo Finance.

David Hollerith covers cryptocurrency for Yahoo Finance. Follow him @dshollers.

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