Shiba Inu Team Shares Big Update On ‘Shib The Metaverse’ Launch

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As a seasoned cryptocurrency analyst with over a decade of experience in the digital assets market, I’ve witnessed countless projects promising transformative developments only to fizzle out or fail to deliver. However, Shiba Inu’s latest announcement about ‘Shib The Metaverse’ has genuinely piqued my interest.

The latest update from Shiba Inu’s team on ‘Shib The Metaverse,’ a virtual playground within the SHIB ecosystem, has garnered noteworthy attention across the crypto landscape. SHIB’s marketing lead, Lucie, revealed that the metaverse’s launch on the meme coin’s ecosystem is closer. This statement, showcasing a game-changing development for the dog-themed token, has reverberated investor optimism globally.

Shiba Inu’s Lucie Hints ‘Shib The Metaverse’ Launch Is Imminent

On September 29th, Marketing Lead Lucie highlighted significant aspects of “Shib’s Metaverse: A Place for Community, Dreams, and Plans” on X. According to her update, the launch of the metaverse within the Shiba Inu token’s ecosystem is expected in the near term.

Moreover, Lucie stated that “space will serve as the pulsating core of the SHIB community, fostering growth through user-created content, innovative thoughts, and productive collaboration.

The article highlights that SHIB holders might consider the virtual platform as their ‘primary hub’ in the ecosystem. As the launch nears, participants will be able to exchange thoughts on new concepts, decide on crucial suggestions, and develop strategies for the future of the ecosystem. This action is anticipated to significantly increase activity within the Shiba Inu community while also enhancing its attractiveness to users.

In more current terms, the marketing team’s recent updates have highlighted promising advancements in the SHIB coin’s market position, which has fueled optimism among its followers. The community has been vocal about integrating fiat on-ramps into Shibarium, a Layer 2 platform, thereby enhancing and modernizing the ecosystem with a dog-themed meme coin as its foundation.

Interestingly enough, Lucie disclosed some exciting news about the future – Shib developers have been investigating zkKYC, a technique that ensures user verification while maintaining privacy, without revealing personal data. Furthermore, it was mentioned that there are plans to integrate fiat currency top-ups as well.

SHIB Price Plummets

However, despite the abovementioned advancements, the Shiba Inu coin saw a selloff today. SHIB price slipped nearly 6% to $0.00001873 in the past 24 hours. The coin’s intraday low and high were recorded as $0.00001843 and $0.00001984, respectively. Besides, the weekly chart for the token illustrated a 27% uptick, hinting that today’s slumping movement aligns with the broader market trend.

As a researcher, I’ve been analyzing data from Coinglass today, and I noticed an 8% decrease in SHIB futures Open Interest to approximately $60.28 million. Additionally, the derivatives volume took a significant hit, dropping by 41% to around $356.72 million. This steep decline seems to reflect a diminishing interest among investors in the asset, given the recent price drop. However, some positive developments and a broader view of the market timeline have sparked differing sentiments.

As a crypto investor, I’ve noticed some exciting developments with Shiba Inu lately. According to recent reports from CoinGape Media, the SHIB burn rate has surged dramatically, tipping the balance towards a bullish outlook for this token. It’s fascinating to see how market watchers are closely observing Shiba Inu in light of these shifting trends.

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2024-09-30 11:11