Shiba Inu experiences price volatility despite recent community-driven upgrades.
New game launch and stablecoin hint bullish outlook for SHIB.
Shiba Inu (SHIB) has experienced significant price volatility, recently surging past $0.00001773 before settling at $0.00001739—a jump of 8% in the past 24 hours despite a weekly decline of 12%. This fluctuating movement has created a wave of uncertainty among traders and investors in the cryptocurrency market. However, on-chain metrics and recent developments suggest a potentially bullish outlook for the meme coin.
Meanwhile, the Shiba Inu ecosystem has introduced a range of upgrades that could enhance its standing in the broader market. Lucie, the coin’s marketing lead, recently announced that the launch of “Shib the Metaverse” is imminent. This initiative aims to empower users by facilitating discussions on new ideas, voting on crucial proposals, and fostering innovative strategies for the ecosystem’s future.Â
In another significant development, the SHIB community hinted at the upcoming launch of a SHI stablecoin on Shibarium. These enhancements to user offerings may signal a paradigm shift in market sentiment surrounding the token.
Bullish Outlooks With Recent Updates
On-chain data adds to the optimistic outlook, with reports indicating a substantial increase in SHIB burns, reducing the coin’s supply. Moreover, Shiba Inu whales have reportedly moved 8.27 trillion coins, suggesting renewed interest from large-scale investors. This activity, coupled with the anticipated “Uptober” rally, bolsters bullish projections for SHIB’s price trajectory.
Despite the recent price dip, the SHIB community remains active. Play With SHIB, the official gaming subsidiary, has launched the blockchain version of the popular Shiba Eternity mobile card game. This Web3 version prioritises holders of specific NFTs, with improvements based on community feedback addressing prior technical issues.
As Shiba Inu revitalises its gaming niche, the community feels that the future looks promising, and crypto enthusiasts maintain a positive outlook on this dog-themed coin.
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