Shiba Inu Joins The Metaverse

February 12, 2022 1:20 pm

The team behind the popular meme coin Shiba Inu has announced that the Ethereum based token is now set to join the metaverse.

This came as quite a surprise to many SHIB holders and traders as it could be argued that the coin was originally limited in utility.

Currently, Shiba Inu has a total market cap of around $18.4 billion and is currently considered the 14th largest crypto project when measured by market cap on CoinMarketCap.

In the coin’s entrance to the metaverse industry, the team has specifically announced that they will be working on a virtual land project.

DeCrypt.co reports:

In a Tuesday blog post, the developers said they would “lead this Metaverse sector” and will soon release “Shiba Lands” for purchase and auction. The metaverse refers to shared virtual worlds that people can interact with as 3D avatars.

Those who want to get involved ahead of the launch of the meme coin metaverse can do so by buying and holding Doge Killer (LEASH)—another token created by the developer (or developers) behind Shiba Inu.

“Overall, our focus is not only to disrupt the Metaverse industry but many industries in and outside the crypto world,” the blog post read.

“Therefore we are early, but most importantly, our Metaverse serves as the anchor in our sustainable ecosystem, as we add even more utility, projects, and benefits for our beloved ShibArmy, the best crypto community out there.”

For anyone who is interested in getting involved with this, investors will be able to get a place in the Shiba Inu metaverse by holding Doge Killer tokens.

So far, the top Doge competitor token is now recorded to be up 48% in just the past 24 hours indicating a strong market recovery and the optimism the community has for SHIB.

Shiba Inu’s rise to popularity has surprised many so far as it continues to compete with Dogecoin which is considered the biggest meme coin in market cap.

Critics of the two tokens argue that there is no beneficial utility that is provided, but proponents are showing that they are popular alternatives that can be used for payments.

BitSmart.us shares:

Shiba Inu exploded in popularity last year when it burst onto the crypto scene to compete with Dogecoin—the biggest meme coin by market cap.

Critics of both Both Shiba Inu and Dogecoin say the coins have no inherent value, but proponents—particularly those of Dogecoin—say the coins can and should be used for payments.

Both meme coins have become popular as internet communities and celebrities, such as Elon Musk, have promoted them online, causing their value to go through the roof (and make some early investors very rich.)

Based on the recent rate of growth and the team’s surprising move to expand into the metaverse, the SHIB token may continue to be around for longer than many people may expect and continue to prove critics wrong.

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