- A recent tweet highlighted the features that Shiba Inu: The Metaverses brings with it
- At press time, SHIB’s weekly chart was green, with buying pressure on the token rising too
As a seasoned researcher with a keen interest in the crypto space and a soft spot for Shiba Inu (SHIB), I can’t help but feel a mix of excitement and caution as the long-awaited launch of Shiba Inu: The Metaverses unfolds. Having closely observed the memecoin’s market dynamics, I see a green weekly chart with rising buying pressure, which is indeed promising. However, my experience tells me to tread carefully.
After much anticipation, it’s been confirmed that Shiba Inu [SHIB] is set to debut its very own metaverse. Could this development propel SHIB towards unprecedented heights in the crypto world? Only time will tell.
Shiba Inu: The Metaverse is here!
Recently, the well-known X handle known as LUCIE announced on Twitter the debut of “Shiba Inu: The Metaverse”. This new platform comes with key features that were also emphasized in the tweet. Notably, it allows users to buy, sell, and even create virtual properties, all of which are securely recorded on the blockchain.
Additionally, they offer the ability to create unique, customizable avatars tailored to your taste and imagination. Beyond this, a variety of additional user-accessible features are available as well.
How will SHIB react?
Following the debut of its metaverse, Shiba Inu’s memecoin saw an increase in its price value. According to CoinMarketCap’s data, the token’s price climbed by approximately 4% during the past week. At the current moment, it is being traded at $0.00002179, boasting a market capitalization of over $12.8 billion.
Following a dip, it was observed that the NVT ratio for Shiba Inu began to increase. This rise indicates that the asset might be overvalued, leading to potential price adjustments.
Despite this, there has been a slight uptick in demand for the memecoin recently. This can be seen through a decrease in its availability on exchanges and an increase in its holdings away from these platforms.
As a researcher, I’ve noticed an uptick in significant Shiba Inu (SHIB) transactions lately, which could potentially boost the altcoin’s price. Interestingly, according to a report by AMBCrypto, the volume for large SHIB transactions surpassing $100,000 jumped from 1.07 trillion to an impressive 3.75 trillion within a single day – that’s nearly tripling the transaction volume in just 24 hours.
Furthermore, Coinglass’ data showed a significant increase in Shiba Inu’s long/short ratio on the 4-hour chart. This suggested that there were more investors with long positions (buying the token) than those with short positions (selling it), typically indicating increased bullish sentiment towards the token.
Currently, Shib appears to be nearing a potential support point. If Shib successfully tests this support, it could surge once more and potentially reach $0.000026 again. Given its current trajectory and the fact that the Relative Strength Index (RSI) is trending upward, there’s a good chance this could happen.
Read Shiba Inu’s [SHIB] Price Prediction 2025–2026
If the token doesn’t manage to validate its support, there’s a strong possibility that it could plummet to around 0.000015 within the next few days.
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2024-12-28 01:11