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


Image source: Getty Images

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

Earn a $100 bitcoin bonus

Our updated list of the best cryptocurrency apps for 2022 is packed full of best-in-class choices. The cryptocurrency apps that landed on our shortlist include perks like $0 commissions and a choice that offers a $100 bitcoin bonus. Consult the list heregarding and start your crypto journey, today.

Get the best choices

We are firm believers in the Golden Rule, which is why editorial opinions are our own and have not been previously reviewed, approved or endorsed by the advertisers included. The Ascent does not cover all offers on the market. The editorial content of The Ascent is separate from the editorial content of The Motley Fool and is created by a different team of analysts. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


nasdaq

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button