The Shiba Inu had a busy month after two separate 30 percent gains. However, regardless of the rallies, SHIB has had a pretty warm month so far. But to some, that could soon change thanks to the ongoing metaverse bidding event for land in SHIB: The Metaverse.
SHIB: How has the excitement of The Metaverse affected the field?
As we have announced as Kriptokoin.com, the first phase of the land sale in the metaverse has been completed today, as Shiba Inu has announced, and now the second phase of the sale is being passed with the HOLDERS event. This phase will continue for the next seven days, during which investors will be able to purchase any land directly using Ethereum. Unlike the Bid Event, investors at this stage will not have to wait and bid further for their preferred plot using LEASH.
Instead, land can be purchased without delay at a fixed ETH price by land tier. These tiers are split into Silver Fur, Gold Tail, Platinum Paw, and Diamond Teeth, which are priced between 0.2 and 1 ETH. After this event, the land sale will be open to the public who can buy the land without any preconditions. Metaverse excitement can keep investors in a positive mood, but according to an analyst named Aaryamann Shrivastava, SHIB still hasn’t recovered from the ordeal of January.
Shiba Inu investors at a loss
In January, more than 55 percent of investors were at a loss, and only 4 percent to date have managed to break even and break into profitable territory. This can be attributed to the highly volatile price action in the token. At the beginning of 2022, SHIB was trading at $0.00003416, today it is trading at $0.00002576. That’s about 32 percent away from compensating for YTD losses.
Currently, approximately 23 trillion SHIBs worth over $592 million have been waiting to witness profits for over two weeks as these investors purchased their SHIB soon after the March rally. On the other hand, 52.84 trillion SHIB, worth $1.36 billion, has been chasing profits for more than a month. According to the analyst, this will only happen once the SHIB hits a price point between $0.000028 and $0.000034.
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