Following an incredible 3-week period of over 500% of growth, the token for one of the most promising meme coins on the Binance Smart Chain experienced its first major “fear selling” period today.
After reaching its all-time high of $0.000000000009676 on March 16, $GOLDEN entered a consolidation period up until yesterday.
As is usual with every asset after experiencing major rallies, fear selling took over part of investors, which caused the asset to drop by about 30%. Still a far number from the total increase.
In the first hour of March 21st, $GOLDEN fell from $0.000000000007672 to $0.000000000005328. However, indicating that fear selling did not take over the community, the meme coin has already recovered its losses and looks ready to go on another rally anytime soon.
The development team behind the project does not indicate any exhaustion in its attempts to grow the cryptocurrency.
In fact, they claim that the next major milestone for Golden Inu is breaking through the $1 million market cap — and if that happens, $GOLDEN is bound to lose a couple of zeroes along the way.
Golden Inu Ready For The Long Run
On top of already recovering its losses from investors eager to sell after any signs of price consolidation, the project is already investing in the long-term sustainability of the cryptocurrency.
On Twitter, their official account reported that they invested 3% in treasury in BNB, intended to be held as a long-term investment to support the future growth and sustainability of the cryptocurrency project.
Putting more assets in the treasury can help provide a degree of stability and security for the project, as the reserved funds can be used to cover unexpected expenses or to weather market fluctuations.
Additionally, having a well-funded treasury can make the project more attractive to investors, as it signals a long-term commitment to the success of the cryptocurrency.
On top of that, another 3% of $GOLDEN was burned, causing a deflationary reaction in an attempt to help the token grow over time.