Shiba Inu Kicks Off Metaverse Project; SHIB Rallies 14% In The Last 7 Days

Christian Encila

1 year ago

2 mins read

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Despite the backlash it receives from cryptocurrency analysts, the Shiba Inu meme coin continues to make a loud noise, and on March 30, it revealed additional details regarding its own metaverse, which will be appropriately named SHIB.

The project currently has more than 3 million followers on Twitter, which the development team attributes to a new degree of achievement.

The team says that by launching its own metaverse venture, it will help position Shiba Inu for advancement.

Shiba Inu Marks Territory In The Metaverse

SHIB: The Metaverse is a virtual world with about 100,595 plots of virtual land and four unique districts.

In a tweet, SHIB said:

“We would like to extend a warm welcome to SHIB: The Metaverse. An immersive experience that has the potential to expand into a large setting in which the Shib Army may learn, share, and benefit.”

In a blog post captioned in the announcement, the Shiba Inu team describes SHIB: The Metaverse as the fulfilment of the community’s history, visually portrayed in a layer of stunning graphics that highlight its inventiveness and cohesion while providing a place to call home.

Using the name “SHIB: The Metaverse” to honor the Metaverse would not only establish the project’s identity, but it would also allow the community to focus on its basic ideals.

SHIB Price Action

As this developed, the profitability of the second-largest meme cryptocurrency, Shiba Inu (SHIB), has climbed to 46% from 35% earlier in March, according to IntoTheBlock data.

The meme coin is currently trading at $0.000027, down from March 28 peaks of $0.0000296. SHIB has increased by 14% in the last week, according to CoinMarketCap data.

SHIB total market cap at $15.024 billion on the daily chart | Source: TradingView.com

Whales Hoard Billions In SHIB

Meanwhile, unidentified whales acquired billions of Shiba Inu tokens this month, despite a 30% run, according to WhaleStats.

The first whale, who accumulated 420 billion SHIB, engaged in two significant transactions. Three hours before the second transaction, valued $7.3 million, the first transaction was worth $4 million.

The second whale, who bought a lower quantity of Shiba Inu tokens, completed a single transaction valued at around $1.3 million.

Shiba Inu Maintains No. 15 Spot

The joke cryptocurrency remains in 15th place in terms of market value, having increased to $15.8 billion, according to Coingecko.

Shiba also announced the launch of a new domain, SHIB.io, which will serve as the home for the Shiba Inu Metaverse and the community’s future expansion.

Featured image from Coingape, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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