Shiba Inu prepares for a Rally? Metaverse may boost Shiba Inu in 2022
Will Shiba Rally?
Shiba Inu was created in August 2020, but it wasn’t until 2021 that Shiba Inu began to grow rapidly in popularity in the cryptocurrency space. In the last year the price is up more than 364,008% and has continued to fight through even during a few down turns. While Shiba Inu may still be a little risky, it’s hard to not want to jump on the SHIB bandwagon — especially when Shiba Inu Metaverse Lands may be in the works.
Shiba to join Metaverse?
Last week, Dogecoin and Shiba Inu released plans to join into the Metaverse. Speculation includes that there may be Shiba-lands for purchase. While Shiba-Inu is currently a coin that is primarily used as a payment coin, developers are currently working to give it additional utility, which will continue to help its growth and hopefully gain more attention. Currently Shiba is priced at $0.00003053, but as more and more news comes out with its potential in the Metaverse, we could possibly see another spike in Shiba Inu and them community is dreaming of the day the coin hits $0.01. The Shiba inu community is excited for this and watching these updates closely.
Recently developers have introduced ShibaSwap, which is a decentralized exchange. The exchange allows its users to trade with each other on a peer-to-peer level. On this exchange, investors can stake SHIB tokens to earn rewards. As the Shiba Inu project expands it will be exciting to see what kind of push it gives the coin.
What the Skeptics say
While Shiba Inu is a tempting place to invest your money, it’s also may be riskier than others. Unlike coins such as Ethereum, Solana and Cardano, which can all allow decentralized applications (dApps). Skeptics say that while Shiba is still on the crypto radar, the volume remains weak, creating concern on the longterm outlook of Shiba. In the past Shiba has been very much so a heavily hyped up coin, which may be the primary cause of its growth thus far. Coins such as Bitcoin and Ethereum on the other hand, were created with a purpose of solving specific problems and remain as top competitors of Shiba. Bitcoin has a market cap of $800 billion, while Shiba Inu is currently at a market cap of $16 billion — which makes it difficult to imagine that Shiba Inu can keep up despite the news of Shibaverse.