Shiba Inu: Should the Community Brace for a SHIB Take-off?

Vignesh Karunanidhi
Shiba Inu

Since its inception, Shiba Inu has come a long way. From the perspective of a basic memecoin, SHIB has advanced significantly. By market capitalization, SHIB is the second-largest memecoin. However, it is challenging DOGE for first place since it continues to advance more quickly than the reigning memecoin.

The Shiba Inu team has been engaged in several endeavors to build its environment. SHIB Burns, SHIB Metaverse, and the Shiba Inu Eternity game are just a few of the advancements the game is working on. The SHIB team dropped a new concept art reveal of its metaverse yesterday. Can it trigger SHIB to take off from its bearish stance?

Shiba Inu

SHIB rises post-announcement

SHIB has increased by around 1.65% over the last day after yesterday’s revelation of upgrades to the SHIB metaverse project. However, the rise was short-lived as it lost what it gained. SHIB is currently trading at $0.00001124 with no major movements in price. The announcement doesn’t seem to have that much of a major impact on the price.

The announcement revealed SHIB the metaverse canyon concept art reveal. “The ‘Canyon’ elevates the essence of Earthy, Rivers, Adventure, Breathtaking Scenery.

Shiba Inu metaverse

SHIB metaverse is one of the major projects by the Shiba Inu team. The metaverse will also aid in pumping the utility of SHIB, BONE, and LEASH.

The performance of SHIB during the past year has not been particularly noteworthy. SHIB has increased by 1% during the past week. In the previous 30 days, it fell by 12.4%. SHIB’s value has decreased by 16.1% over the past year.

On the flip side, SHIB burn has put on a good show with an 1129% hike in the burn rate in the last 24 hours. 28,671,726 SHIB has been sent to dead wallets in the last 24 hours. The community is also waiting for the Shiba Eternity download day.