Shiba Inu Could Grow 55% If Its Metaverse Project Becomes A Catalyst

  • shiba inus (SHIB-USD) began to swell. On Monday, April 11, the price of the SHIB-USD token was $ 0.000022. That’s right, there are four zeros to the right of the decimal point.
  • SHIB-USD is down around 35.6% from $ 0.00003414 at the end of December 2021. That is, just to rebound from $ 0.000022 today, it needs to rise to 55%.
  • The new crypto metaverse project has the potential to act as a factor in the SHIB-USD rebound.

Source: Shutterstock

Here’s another way of thinking Shiba Inus (SHIB-USD) price now: $ 100 will buy you 4,545,454 Shiba Inu tokens, before the transaction fee. This will work because if you divide $ 100 by $ 0.000022 you will get 4.545 million SHIB tokens.

The easiest way to buy SHIB-USD is to use Coinbase worldwide (NASDAQ:PIPES IN MONEY) Platform. It now allows Shiba Inu cryptocurrency trading. The April 11 price was $ 0.000022. But at $ 100, you only get 4,322,830 SHIB tokens, instead of $ 4.545 million in spot price. This is because Coinbase charges a fee of $ 2.99, so you will receive a small SHIB compared to the actual spot price.

This shows you that Coinbase requires 2.99% of your purchase. So for $ 100 paid, you get $ 97.01 worth of SHIB crypto. This is the standard rate at which crypto transactions are conducted these days. Nothing is too cheap.

Latest Shiba Inu developments

One way for SHIB-USD to come back is a new initiative taken by the developers behind Shiba Inu in the metaverse world. CoinDesk the magazine reported on March 30 that they were launching a project called “SHIB: The Metaverse.” The virtual reality platform will offer 100,595 lots to buy and sell:

  • The soil will be released in stages. The introductory phase will open 36,431 designs, divided into four categories.
  • Their price can be between 0.2 Ethereum (ETH-USD) and 1 ETH-USD. Today, 1 ETH token sells for $ 3,008, so 20% of that amount equals $ 601.60.
  • They will use Ethereum as a ground pricing indicator to ensure there is no risk of the Shiba Inu price falling.
  • Land buyers will be able to generate passive income, collect in-game resources and generate rewards, which will be revealed soon.
  • Landowners can change their space while using and burning the dog-themed SHIB token.
  • There is a “special first role to be played by Shiba Inu” in the metaverse. Nor was it disclosed what exactly it meant.

It’s kind of a game about success Decentralized (MANA-USD) and other metaverse cryptos like The sandbox (SAND-USD). At one point in early February, a digital storyline in The Sandbox was worth more than $ 4.3 million.

However, recently, we may have passed the high point in virtual land and real estate. This could be a case of jumping on a bandwagon. There may be value for a new entrant, even if it is not a peak price for buyers.

Where does that leave SHIB-USD now

Shiba Inu now has a market capitalization of $ 12.2 billion, making it the 15th largest cryptocurrency. It’s a crypto “meme” just like that Dogecoin (DOGE-USD), the 10th largest, with a market value of $ 18 billion.

SHIB-USD may rebound when its new project and new metaverse and virtual reality terrain platform come out. Dogecoin has no similar ongoing project like this. This will help differentiate Shiba Inu from Dogecoin and give investors a reason to buy Shiba Inu instead of Dogecoin.

Both cryptos are used as payment mechanisms, as I recently highlighted in an article I wrote about accepting them in AMC Entertainment (NYSE:CMA) for online movie tickets.

The thing is, investors often associate Shiba Inu with Dogecoin, in terms of the type of crypto. So, if this new metaverse venture works, it will help differentiate SHIB and increase its value, based on profitability compared to Dogecoin.

Finally, there is not much difference between a market cap of $ 12 billion and a market cap of $ 18 billion in the faster cryptocurrency market. The point is that this new metaverse venture could act as a potential factor for Shiba Inu to rise 55% to its level by the end of last year.

As of the date of publication, Mark R. Hake does not hold any position (directly or indirectly) in the securities discussed in this article. The opinions expressed in this article are those of the author, under InvestorPlace.com Publication guidelines.

Leave a Comment