Shiba Inu is launching a new metaverse project. How could this impact its price?

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Shiba Inu was originally inspired by a dog meme and became recognized as “the Dogecoin killer”. But after growing in popularity and value, SHIB is looking beyond its original identity as a decentralized meme-only token, and continues to grow its portfolio of options for investors. Over the past few months, it has provided its users with new typing options, launched a new burning portal, and unveiled a new Layer 2 solution that aimed to reduce SHIB’s transaction fees and continue to expand its reach. . The latest installation of this growth is SHIB: the metaverse.

Latest project details

That’s right, Shiba Inu has expanded its digital space into its own metaverse, with over 100,000 virtual plots of land available for purchase. The goal is to create a base where members of the Shiba community can truly thrive and experience all that the ecosystem has to offer. Shiba Inu describes it as an “immersive experience that will allow users to explore, benefit from, and interact with a Shiba Inu universe like no other.”

As cryptocurrencies and the metaverse grow in popularity and reach, so does the need for more user experiences. Shiba Inu acknowledges this, saying, “Our mission is to introduce a unique, fun and exciting way for users to earn passive income, gather game resources, generate rewards and even allow them to have a personal space in which they can build and manage their own projects.

What does this mean for coin value?

After a sharp price drop at the end of April, SHIB experienced a small push during the announcement and launch of SHIB: the metaverse. The thrust was not enough to reach highs, but instead it leveled off. It is currently up less than 1% with a price of $0.00001989, a market cap of over $10 billion, and a circulating supply of $549 billion, according to CoinMarketCap. While there hasn’t been a notable push, this expansion bodes well as it could pave the way for future partnerships.

Read more: The Ascent’s Cryptocurrency Articles

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