Since the past week, Shiba Inu started off with an uptrend gaining double digits. On March 28th Shiba Inu hit $0.00002965, the range that was not seen since the 17th of February. However, the bulls couldn’t withstand this level for too long and retraced back around the $0.00002616 level.
Due to its fractional trading, Shiba Inu can be extremely volatile. At the time of reporting, Shiba Inu is trading at $0.00002762 with an increase of 1.11% in the last 24hrs and is strongly headed towards the $0.00002800 level.
The immediate support level lies at $0.00002750 to the $0.00002725 mark. If Shiba Inu sustains these support levels, then we could see another uptrend approaching soon. And if SHIB breaks the $0.00002800 resistance barrier, the price might climb to the $0.00002850 and $0.00002875 levels.
Metaverse To Influence SHIB Price!
The year 2022 has been a year of Metaverse as many cryptocurrencies and tech companies have entered the Metaverse race. Among many such firms, Shiba Inu to has launched its much-awaited Metaverse project.
The doge killer will be directly competing with the virtual lands built by Decentraland, the Sandbox, and others. The Shiba Inu’s Metaverse will consist of 100,595 land plots, though a few of them will remain private. In the coming week, Shiba Inu also plans to announce AAA Game Developer Studio.
As per the announcement, Shiba Inu’s metaverse project will be rolled out in three phases. Among 100,595 land plots, only 36,431 plots will be unlocked during the first phase or also known as the introductory phase. As per the publication, the virtual land will reveal 4 districts namely, 1) Growth District 2)Defense District 3) Technology District 4) Currencies District.
Land Pricing To Be Made Through Ethereum Platform
The team has decided to unlock different Metaverse tiers through Ethereum where the price remains fixed between 0.2 ETH and 1 ETH. The team confirmed that they have decided to use Ethereum as a land pricing token to ensure that there is no downside risk to SHIB’s price.
“SHIB Metaverse, A Cash Grab With Little Utility”
Billy Markus, Dogecoin founder who is known by the online name Shibetoshi Nakamoto, has knocked off Shiba Inu’s Metaverse project plan saying it’s a move to cash grab with little utility.
However, proponents believe the launch of SHIB Metaverse is definitely a milestone in Shiba Inu’s development days and will impact positively in the coming days.