SHIB: Metaverse has been on the community agenda for a while. The Shiba team shared details about the metaverse project in the past weeks. Apart from that, the first stages of Shiba Inu land sales have also been completed. In their most recent post, a member of the Shiba community shared remarkable statistics of land sales.
SHIB Metaverse reveals interesting stats
The latest SHIB: Metaverse news came from ShibaInuart, a Twitter user dedicated to the Shiba Inu community. The report shows that 19,611 lots have already been sold. It also points out that over 5,613 landowners have joined the platform.
According to the Shib.io website, a total of 100,595 plots will become available over time. During the first promotion phase, 32,124 plots out of 36,431 plots were put up for sale. As Kriptokoin.com, we have discussed the details about Shiba’s metaverse project in this article.
Latest developments in the Shiba Inu
Switchere, the leading Estonian exchange, has officially announced the listing of Shiba Inu cryptos SHIB, LEASH and BONE weeks after the initial news. Luxury watch brand Breitling has announced that it now accepts cryptocurrencies, including Shiba Inu, through crypto payment processor BitPay. It also added support for Coinbase Commerce, Shiba Inu, and six other new altcoins. This allowed investors and consumers to have more options for crypto payments.
In an official blog post, the Shiba Inu team stated that their proposal to stop all BONE farming operations after 230 million mints to preserve the remaining 20 million for Shibarium volidators was approved by 97.88% of the vote.
With the acceptance of the new offer, the total BONE supply remains at 250 million. Shiba Inu owners are also continuing to grow despite the current price drops. According to WhaleStats, the total number of SHIB investors currently stands at 1,188,601. Alongside this individual demand, analysts say that SHIB price is poised for a rebound.
Analysts expect recovery in SHIB price, these levels are critical
Aside from the spree of individual demand, the Shiba Inu price plunged in the last crypto bloodbath. The SHIB price has lost around 18% since just June 26. However, the Momentum Reversal Indicator (MRI) is giving a buy signal on the four-hour price chart. Any increase in buying pressure will trigger a retest of $0.0000104, according to analyst Ekta Mourya.
It also triggered a $1.44 million liquidation of SHIB futures on exchanges as the Shiba price dropped 10% overnight, based on data from Coinglass. The chart below provides an insight into the liquidation of Shiba Inu shorts and longs between exchanges.
As a result, experts attribute the Shiba Inu price increase before the bloodbath to root causes. Adam O’Niell, CMO of leading cryptocurrency exchange Bitrue, said:
SHIB’s parabolic move is mainly powered by the upcoming Shibarium protocol. This move comes from the SHIB burnt token reaching the 400 trillion milestone.
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