Shiba Inu has partnered with a leading mobile upload platform that is ready to increase its adoption rate. Apart from that, there are tangible developments from the highly anticipated SHIB Metaverse. Will the price be able to support the news?
Shiba Inu opens to 150 million users in 160 countries
Shiba Inu continues its expansion across different platforms, outpacing other meme coin competitors. With the meme coin market at the forefront in recent weeks, Shiba Inu has also been making strategic moves to drive adoption.
Alpha Mobile Top-Up announced in a recent tweet that the Shiba Inu is now available for mobile phones and online shopping. The platform announced that it has joined Shiba Inu to serve its customer base. This new development further popularizes the use of the Shiba Inu. It will also allow it to be in a stronger position against other cryptocurrencies.
Greetings from the future of payments with AlphaTopup and @Shibtoken. The hottest meme coin of the year may now be used for powering up your phone or make online purchases in AlphaTopup. Don't miss out on the chance to join the AlphaTopup with #SHIB and be part of the revolution. pic.twitter.com/1BOxYwf0sF
— Alpha Mobile Topup (@AlphaTopup) May 11, 2023
The Alpha Mobile upload platform is a Business-to-Business (B2B) solution that provides upload and data services for Web 3.0 focused business platforms as well as Blockchain companies and traditional businesses. The company currently serves more than 150 million customers globally through its partner network. Therefore, the partnership was quite an important step in the adoption of the Shiba Inu.
SHIB Metaverse starts on this date
Shiba Inu announced the official release date for SHIB: The Metaverse in April. Accordingly, the metaverse will open in December 2023 and will contain 100,595 plots printed by users.
“Although all development takes time, the MV team is confident that by the end of 2023 users will have the opportunity to explore, build, design, play and develop some areas in this fantasy world,” the developers said. However, not all areas of the metaverse will be fully completed as it is an ongoing project.
Bears cause another drop in prices after retesting resistance
Price-wise, SHIB bulls haven’t had a pleasant ride in the past two months. Range formation in March and April was followed by a severe downtrend in the second half of April and the bulls were unable to put up a real fight.
Data from Santiment showed that the average dollar investment age has been on the rise since late March. At the same time, the supply in the hands of the largest exchange addresses also fell. Together they probably showed accumulation by the bulls.
Still, the price is in a strong downtrend after the bearish market structure in mid-April. The 90-day MVRV also showed an extremely undervalued asset. The MVRV last dropped to these levels in November. However, further losses should not be overlooked with this data. The formation of a bullish divergence gave Shiba Inu bulls some hope, but it was unlikely to reverse recent losses.
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