• A recent tweet highlighted the features that Shiba Inu: The Metaverses brings with it
• At press time, SHIB’s weekly chart was green, with buying pressure on the token rising too

Shiba Inu [SHIB] has finally announced the launch of its metaverse, which was due for release for a long time. This launch has the potential to push SHIB to the moon, but will that actually happen? 

Shiba Inu: The Metaverse is here!

LUCIE, a popular X handle that shares updates related to the Shiba Inu ecosystem, recently shared a tweet revealing the launch of Shiba Inu: The Metaverse. The tweet also highlighted a few crucial features of this new platform. With this launch, people can own, trade, and develop virtual real estate recorded on the blockchain.

They can also craft personalized avatars with endless customization options that reflect your style and vision. Apart from these, there are several other features that users can access too. 

How will SHIB react?

As SHIB’s metaverse launched, the world’s second largest memecoin pushed its price up. For instance, CoinMarketCap’s data revealed that the token’s price moved up by more than 4% in the seven days. At the time of writing, the token was trading at $0.00002179, with a market capitalization of over $12.8 billion.

However, after a decline, we found that Shiba Inu’s NVT ratio started to go up. Whenever that happens, it means that an asset is overvalued, resulting in price corrections. 

Nonetheless, buying pressure on the memecoin increased slightly in the recent past. This was evidenced by the drop in its supply on exchanges and the rise in its supply outside of exchanges. <

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Author: Dipayan Mitra