Shiba Inu has got a huge upturn in the last twenty-four hours by reaching $0.00005134. The coin has moved up by 31.3% in the last 24 hours. The coin was dropping down yesterday 29 November but post 21:01:05 the coin suddenly got momentum. Recently, Shiba has shifted to the right track.
The high recorded price is $0.00005141 while the low recorded price is $0.00003869 in the last 24 hours. Thus, the meme coin has once again got rhythm. Interestingly, the coin has jumped to position 11 in the list of top Cryptocurrencies.
Based on the last 30 days, the coin has dropped down by -21.4%. Moreover, the coin has decreased by -5.1% in the last 14 days. However, the current upturn has shifted the pendulum and the last seven days are a bit brighter. Verily, the coin has moved 18.2% in the last seven days.
Additionally, in the last Twenty-four hours the coin has surged up to 30.7% and in the last one hour, it has progressed to 3.6%. Owning to the last twenty-four hours, it can be assumed that the coin is getting better. Of course, Shiba’s overall impression is good though it’s getting hard for the afresh investors to invest in this platform right now.
When the market is getting better, it creates huge anxiety for the freshers as they cannot invest in such a big platform initially. However, those who have already invested and are frequent users of the Shiba platform will be much happy. The rest will wait for the bearish market.
Further, at the end of 28 November (almost at 21:00:50), the coin was bargaining with $0.00003857. On the next day, at 21:01:05, the coin got momentum and reach 0.00003907.
Today, at 10:03:14, the coin was marketing with $0.00004872. Now at 16:01:07, the coin is trading with $0.00005135. This is the current price of the coin in the market.
This post suggests that the Shiba Inu development team is looking at a big-time partnership to develop an online game. Notably, famed video game designer William David Volk has been tapped as a partner on this project.
Volk has quite the track record when it comes to the gaming space. His 36 years of experience include an executive role at Activision Blizzard, as well as a number of high-profile projects that have investors excited about the potential of this collaboration.
This post also suggests the blockchain version of the game that’s being theorized right now will eventually use Shiba Inu’s decentralized network, incorporating Shiba Inu into the metaverse. All the excitement around the metaverse right now could provide for some serious speculative momentum in the near term.
Today’s rise of 3.4% at 9 a.m. ET is a meaningful improvement for this dog-inspired token over the price action of most days this past month. In fact, over the last month, Shiba Inu is down approximately 45%.
One of the biggest gripes investors have with Shiba Inu is its relative lack of utility. Besides being a meme token with a tremendous amount of hype and a strong and growing community, there’s not much under the hood. A number of reports highlight the fact that Shiba Inu has the fewest active repositories of any major project.
Sure, this token has a decentralized exchange, will be accepted for payments by large corporations such as AMC Entertainment Holdings and has recently surpassed 1 million wallet holders. That’s great.
However, this potential move to the metaverse and the blockchain gaming space is perhaps the most tangible catalyst Shiba Inu has had in some time. Investors looking for a reason to invest in Shiba Inu may have what they’re looking for.
Of course, this token remains highly speculative and carries a tremendous amount of risk. Meme tokens are perhaps among the most difficult digital assets to intrinsically value. Accordingly, investors looking at the bullish drivers of Shiba Inu should also take into consideration the downside risks with this token.
In a nutshell, Shiba has got acceleration once again in the last few hours. Owing to this, it’s vivid that the meme coin will benefit its investors a lot this week.
What’s your view about the Shiba Inu coin? Will it maintain its upturn this week?