According to a recent tweet, Shibnobi will feature at the Crypto Expo Dubai in March 2022 as a ‘titanium sponsor’. Before that, the project offered a sneak peek into their cross-chain swap platform called “DojoSwap”, which can be used to trade crypto using SHINJA tokens. But what exactly is Shibnobi and is it truly a ‘meme coin’?
The token was currently trading at a 2,100% premium when compared to its November low according to data from CoinGecko. While speculative trading did allow the token to cross $1 Billion in market cap, recent losses have wiped a large chunk of its value in just days. Now, such volatile movement is often what dissuades new investors to jump on board.
However, veterans would know that such a drastic price change is normal during the infancy stage, especially when it comes to a meme coin. Keeping aside market movement, what may drive Shibnobi’s value over the long run is its utility and adoption. This is where Shibnobi can distance itself from the ‘noise’ associated with meme coin trading.
Whitepaper
According to Shibnobi’s white paper, the token’s primary use is to create ‘easy to use’ token swaps across the Ethereum, Binance Smart Chain, and Polygon networks. The platform also has built-in staking, an anti-whale mechanism and plans to launch its own metaverse.
Opportunities in cross-chain swaps are still being explored and swap models have already been laid out by MintySwap and Wanchain, both of which are currently trading well under the dollar mark. However, cross-chain swaps can help DeFi developers can reach out to a larger audience and enhance the current DeFi market. Hence, the potential can be unlimited. Meanwhile, the metaverse is proving to be a game-changer for the crypto market. Metaverse tokens currently add nearly $42 Billion to the crypto market, spearheaded by Decentraland and Axie Infinity.
Roadmap Details
With phase 3 in play, Shibnobi is eyeing some key listings which would not only generate more traffic to the project but also lead to renewed price discovery. The coin is currently listed on CoinMarketCap, Coingecko, and most recently, HotBit. However, the project is yet to rope in big fish Binance. Should a planned listing come through, expect the platform to hit mainstream channels.
Considering a real use-case, potential new listings, and an eager developer team ready to bring the project to the masses, Shibnobi is not your everyday meme token.