Joe Weisenthal, host of the “Odds Lots” podcast, commented on the Shiba Inu (SHIB). He jokingly stated that SHIB was operating in a “brutal bear market.” Here are the details…
Weisenthal points to ‘brutal bear market’ for Shiba Inu
Weisenthal, co-host of Bloomberg’s Odd Lots podcast, commented on one of the most popular meme coins, SHIB. He stated that the current market cap of the Shiba Inu (SHIB) token below $6 billion means that the cryptocurrency industry is currently in a “brutal bear market.”
According to the data, the popular meme cryptocurrency is currently trading at $0.00000984. The SHIB token has dropped 90 percent from its all-time high of $0.00008616, whose price was reached last October. In addition, the coin has lost 5.1% in the last 24 hours. It has dropped 14% in the last 7 days. Therefore, its total market cap is currently worth $5.7 billion. At its peak, the cryptocurrency was valued at more than $40 billion. But some Twitter users believe that the meme cryptocurrency is still very valuable.
SHIB ecosystem evolves
Meanwhile, the Shiba Inu is making many moves to rid itself of the “meme coin” label. The last of these was the game Shiba Eternity, which was released recently. The game has so far scored 4.6 out of 5 on the Google Play store. More than 11,000 users have viewed the game since launch. On Apple’s app store, the game has so far rated 4.8 out of 5.
Shiba Eternity is played with players getting several types of cards per turn. The game allows their opponents to compete to reduce the stamina of their virtual dog warrior, Shiboshi. The game was first tested in Vietnam in August. Also, as we’ve reported as Cryptokoin.com, it later hit the market in Australia in September. When you start the game, Ryoshi, the founder of the project, greets you. The actors are directed by “Ryoshi Sensei”.
According to the team behind Shiba Inu, the game includes 10,000 Shiboshi heroes, 500 collectible cards, 87 card features, 21 special powers, 21 card keywords, 11 passive powers, it may be one of the most complex collectible card games ever released. According to the developers, 5 percent of the game profits will be used to burn Shiba Inu tokens with the aim of further reducing the circulating supply of the cryptocurrency. SHIBArmy aims to help the price of SHIB rise if demand increases. Thus, it has been burning tokens for some time to reduce the supply.
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