The Shiba Inu (SHIB) surprised investors with a strong 10% rally that pushed its value back at a price we haven’t seen in almost two weeks.
SHIB Metaverse showed off the community concept art of the long-awaited update
In a recent tweet, @ShibTheMV, representing the SHIB Metaverse team on Twitter, shared a picture of the WAGMI Temple headquarters. The image is concept art provided by THIRD FLOOR studio, which worked with the developers of SHIB on the creation of the Metaverse.
According to the text on blog.shibaswap.com as the definition of WAGMI:
WAGMI is short for “We’re All Gonna Make It”. It indicates a higher belief and optimism about the future. The foundation of SHIB has always been the community. We love that our community is strong, and the belief in seeing SHIB rise and reach new heights comes with great passion and a true belief system.
Thank you to all who attended this evening's Fireside Chat, on the @Shibtoken Discord, to discuss WAGMI Temple for SHIB The Metaverse!
As a surprise to the community, we are happy to reveal concept artwork (in color) for the HUB!
A huge shoutout to @TheThirdFloor! pic.twitter.com/ethXNGGn7L
— SHIB (@ShibTheMV) September 9, 2022
By the way, we first heard about the WAGMI Temple headquarters in a blog post on August 30. The center’s design was inspired by numerous temples around the world from Japan, Africa, China and many other countries. Along with this news, the Shiba Inu metaverse team announced that they have hired a veteran of the entertainment industry who used to work for Netflix and Technicolor – Brandie Konopasek. During the hours when 2 important announcements about SHIB Metaverse reverberated on social media, the price of SHIB was on the rise in double digits.
Shiba Inu (SHIB) suddenly increased 10% to become one of the most profitable altcoins
Shiba Inu surprised its investors with a rally we haven’t seen in two weeks. It broke down to the local trendline support before the sudden reversal. It has been under attack from buyers from this support for the past few days. Investors are worried that trading volume will trigger another spike in selling pressure.
Fortunately, the latest news regarding the Shiba Inu Metaverse has forced some entries into the memetoken. As mentioned above, a former Netflix entertainer Shiba Inu has joined the Metaverse team. The news is seen as one of the main reasons behind the rally we are currently seeing at the Shiba Inu.
Market and technical overview
A positive news background is always welcome for volatile tokens like Shiba Inu. However, price performance is likely to depend more on market events than on news about the Shib Metaverse.
In the last 24 hours, the most volatile cryptos in the market have seen rallies that have allowed them to reach the top of the leaderboard. Of course, these runs were short-term for many. The expected reaction of the European Central Bank to the rising inflation and the relatively calm speech of Powell from the Fed are among the most likely reasons for this increase. However, the Market has seen quite a bit of selling over the past few weeks.
As you follow on Kriptokoin.com, the Shiba Inu is currently trading at $0.00001313. It’s holding around 7.5% of its earnings for the last 24 hours.
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