SHIB needs more than Metaverse to wake up – See reason

SHIB needs more than Metaverse to wake up - See reason

Some members of the crypto world saw Shiba Inu’s foray into the Metaverse as a joke. The question remains, though, how a dog-themed cryptocurrency with no practical application can claim the Metaverse was a goal. Even so, Shiba Inu never wavered in his commitment to the task at hand (according to the latest update).

On September 3, SHIB said that it has made a major advancement toward its Metaverse objective. The WAGMI (We’re All Gonna Make It) Temple of the Shiba Inu dog breed gained followers, according to the organization’s official blog.

Is There Any Chance We’ll All Make It?

Shiba Inu’s communiqué on the project’s specifics indicated that the firm had studied several architectural plans from six different municipalities. The initial designs for the meme coin featured inspiration hotspots like Myanmar, South Africa, Hawaii, Japan, New Delhi, and Beijing.

SHIB, meanwhile, said that locals can make final decisions. Upon hearing this report, the majority of Shiba Inu people were in agreement. Unfortunately, the update did not cause a price increase for SHIB.

Despite a rise in volume to $305.37 million, Coinmarketcap reports that SHIB has lost about 0.17 percent in the past day. Similar trends were seen in the amount of $SHIB that was burned over that time period (47.19%): 69.087 million.

In Canada, the minimum amount required to buy an alternative cryptocurrency has been set at $30,000 CAD.
But do these events fit the WAGMI storyline? Right now, the fog continues to blanket the highway. If you’re an Ethereum whale enthusiast, you might want to think about Shiba Inu continuing to retain the majority of the cryptocurrency. The initiative is still in its infancy, thus it may be premature to evaluate its impact.

In addition, Santiment revealed inconsistent measurements across the Shiba Inu ecosystem. Within the last day, SHIB circulation has reduced from 1.9 trillion to just 4,938.

As a result of these shifts, SHIB may start to see positive developments in the near future. While this is happening, market participants can keep an eye on Bitcoin to see how its movements affect the prevailing trend. The current status of BTC is consistent with a bear market scenario.

At the time of writing, the benchmark cryptocurrency had dropped by 0.54%, to around $19,730.01. Bullishness appears to be constrained by bears, and bearishness could grow. In such a system, alternative tokens have struggled. Such a setting is not conducive to the revival of Shiba Inus. What the market has will become clear in the upcoming sessions.

Royal Seed
Royal Seed is a brand new contributor to Alltechcraft, and his writings focus on cryptocurrency news and platform reviews. We highly suggest keeping up with his most recent writings, since they are both quite insightful and fascinating. (Follow him on [email protected]_nba )