Altcoin NewsCryptocurrency News

Shiba Inu (SHIB) Rallies 21%, Here’s Why It Will Rise Further

2021’s most searched cryptocurrency, Shiba Inu (SHIB) has again managed to grab the spotlight. Crypto whales to enthusiasts appear to be gearing up to grab more of SHIB.

Robinhood’s listing of the popular memecoin boosted SHIB prices, while the SHIB: The Metaverse land biding event also provided support. As a result, SHIB’s 24 hour trading volume surged by a whopping 450%.

SHIB surged 21% in the last 24 hours to 0.00002754, and was the best performer among major cryptocurrencies.  The token’s 24 hour trading volume jumped nearly six-fold to $4.4 billion.

SHIB: The Metaverse land bidding event is live

So many things are working in the favor Shina Inu ecosystem and its community. With the announcement of its Metaverse, a 3 day biding event for 35,000 pieces of land is live for the Shibarmy. Virtual world enthusiasts were eagerly waiting to grab the opportunity and there are all the possibilities that it can turn out to be a sold out event.

Shib community member MilkShake said the bids around the popular hubs, streets, and areas are getting more traction. Meanwhile, to participate in the bidding process, users need to have Leash or Shiboshi tokens locked.

SHIB will be used in the planned metaverse to add pictures and logos of the land plots and even to rename them. One can swap the images and rename them endlessly and the SHIB token used in the process will be burned to help the community. However, the meme cryptocurrency can also be used to lease the HUBS. The HUBs are the highest valued lands in the virtual world.

ETH whale adds another 775 Bln SHIB

It is interesting that the Shiba Inu team has dropped such big announcements amid the current bearish market conditions. Meanwhile, the Ethereum (ETH) Whales seem to be enjoying the developments of Shibverse and Robinhood listings.

According to WhaleStats, An ETH whale named “BlueWhale0073” has bought over $20 million worth of 775 billion Shiba Inu tokens. Earlier, multiple whales bagged over 393 Billion SHIB, and that too just before the Rohinhood listing announcement.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button