One of the most sought-after meme cryptocurrencies, Shiba Inu has revealed its jumpstart into the metaverse with the Shibverse. The team has been talking about progressing its work on additional cases for cryptocurrency, so it is not a surprise, really.
Earlier, the Shiba Inu team had also revealed that it developed and was releasing its own game. In this specific game, SHIB will be the utility token.
The announcement was made on Twitter and came with a preview of the metaverse, which contains a high-resolution photo of the well-known Shiba Inu dog breed rising on its feet in the middle of the woods with something called a pickaxe in its mouth.
The tweet read: “As promised, we are excited to announce our first special surprise for the year #ShibArmy! In 2022, we are reaching new heights and welcoming the #Shiberse. An immersive experience for our ecosystem and the Metaverse space! We can’t wait to show you more. Woof!”
Lately, the metaverse has gained traction, with social media behemoth Facebook rebranding to Meta to launch itself into the metaverse and continue forward with its company vision. Walmart, a retail chain, has also jumped into the virtual realm as per several patent filings that were publicly disclosed. So it comes as no surprise that many established firms aim to enter the space.
The price of the meme coin responded quite positively after the announcement of Shibverse. Notably, SHIB has been on a downward trajectory since its all-time high last year and has remained on its path.
The announcement ignited a minor rally in the altcoin price, boosting it over $0.0000225. But this would show that it is only short-term as it remains downward.
The meme coin market sentiment continues to be tightly bearish, which doesn’t positively respond to the digital asset’s long-term performance. Furthermore, most of the Shiba Inu holders are currently at loss, which constitutes a profitable venture for crypto investors.
SHIB has remained trending low, reaching a $0.00002 low point in the last 24 hours. As the new week begins and the market starts to open up, there could be a few upside in the price of the assets. Still, it is dubious that it will be impressive in any way.