METAVERSE

Shiba Inu: Next Dominant Mammoth to Overshadow Crypto Sector with Metaverse

  • Shiba Inu (SHIB), the token that attracted significant investors, performed well in the previous year. And the investors seem to be optimistic.
  • The factors like Shiberse, metaverse launch date yet to be announced, high whale accumulation, and it has emerged to be more than just a meme token has made SHIB quite popular over the recent times. 
  • Although the token didn’t see a very remarkable performance so far in the year, can it emerge and evolve more in the future?

Shiba Inu, one of the popular meme currencies, saw a significant performance last year. Although this year has come with a bit of a downtrend for the token, there are mixed opinions regarding its performance.

Factors to be considered: 

The meme token SHIB is trading at $0.00002198 at the time of writing and stands at a fifteenth position by a market cap of $12,069,463,966. If we talk about the performance, Shiba Inu is currently down by around -32% year to date. And also far lower than its All-Time High of around $0.000088 that it saw in the month of October last year. 

The investors seem to be optimistic about the token, and the primary reason is the crypto asset’s plans to roll out their metaverse with the codename Shiberse, although the metaverse launch date is unknown. And there are various talks about it already among the ShibArmy, who have warmly welcomed the idea. Furthermore, a land sale took place using LEASH tokens last month, and the public sale is anticipated soon. 

According to the Shib Team, which highlighted back then, as they plan to add more utility, projects, and benefits for their community ShibArmy, the metaverse dubbed Shiberse would serve as the anchor in their sustainable ecosystem. 

Recently highlighted via their official Twitter account, the LEASH tokens are used for exclusive access to new products launched by the Shiba Inu ecosystem. 

Apart from the Shiberse, another primary factor that could be considered is the massive whale accumulation. According to the WhaleStats data, among the top 1,000 Ethereum wallets, the meme coin is in the highest position. It has recently flipped FTT to be the most traded token. 

Even though Shiba Inu came out to be a meme token and the dogecoin killer and has been a rival to it earlier, it has emerged significantly. And the sentiments and price predictions are still bullish by some entities. And SHIB has lately maintained a position among the top twenty by market cap. 

It has emerged as more than just a meme token while having its governance token BONE, its NFT Collection called Shiboshis, ShibaSwap, its own Decentralised Exchange (DEX), Shiba Inu Incubator, etc. 

SHIB has gained significant popularity in the short time of its launch and continues to do so. It will be interesting to see if the Shiberse and the whale accumulation factors will help the coin evolve more in the coming years and improve its performance in 2022 and when the metaverse launch date would be announced. 

Latest posts by Ritika Sharma (see all)

Traciwininger
Author: Traciwininger

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