Shiba Inu’s Metaverse Debut iBase Trading.
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The coin of the meme to the surprise no one. Shiba Inu has just revealed that it would be entering the metaverse.

Shibverse, as it is referred to, would bring the cryptocurrency into a booming market. It is expected to increase the value of the digital currency.

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As a result of this announcement, SHIB can now engage in a rapidly expanding market sector. However, how has this affected the value of the digital asset?

Shibverse Project

It has been reported that one of the most popular meme coins is Shiba Inu. It is also one of the winners of the year 2021. This will make its metaverse debut with the shifters. It’s not surprising, given how open the team has been about working on more bitcoin use cases. An announcement had been made earlier by the Shiba Inu team that it would be creating its own game with SHIB as the utility token.

The introduction tweet featured a high-resolution image of a Shiba Inu dog standing in the middle of the woods with what appears to be a pickaxe in its mouth. This is made as a sneak glimpse inside the metaverse.

It’s no wonder that more established projects are jumping into the metaverse, given its recent success. A major newcomer is Facebook (now Meta). Which has changed its name and image to better reflect its metaverse aim. According to a number of patent filings that were made public, Walmart has also made efforts into the metaverse.

Performance of SHIB

The value of the digital currency increased immediately after Shibverse was announced. As a reminder, SHIB has been on a downward trend since its all-time high last year and has continued on this trajectory. Shiba Inu’s value is supposed to rise in the wake of such developments. However, the digital currency has stubbornly refused to rise.

The price of the altcoin had risen somewhat after the news. Rising past the $0.0000225 mark. It would, however, turn out to be a blip on the radar as the trend continued to decline.

The meme coin’s sentiment is still gloomy, which is bad news for the digital asset’s long-term prospects. Even more so, the vast majority of cryptocurrency investors have lost money with Shiba Inu. This makes it an unprofitable enterprise for them.

SHIB’s price has dropped to $0.00002 in the last twenty-four hours. It is possible that asset prices will rise somewhat once the new week begins and the market opens up. In contrast, this is unlikely to be significant.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Steven Alvarez has 10 years of experience trading various assets. He was first introduced to cryptocurrency in 2011 and was immediately hooked. Aside from analyzing charts, Steven enjoys running and cycling.