|

Shiba Inu gears up for metaverse trailer release

  • Shiba Inu ecosystem’s metaverse development is advancing and the Rocket Pond trailer will be released on Thursday. 
  • Developers in the SHIB ecosystem shared their enthusiasm with token holders as the metaverse trailer is a key milestone.
  • Releases from the Shiba Inu metaverse could fuel a recovery for tokens SHIB, BONE and LEASH.

Shiba Inu, the second-largest meme coin in the crypto ecosystem, is gearing up for a key milestone: the release of a long-awaited metaverse trailer.

The development of SHIB metaverse is on track, and the upcoming trailer could act as a bullish catalyst for ecosystem tokens Shiba Inu (SHIB), Bone Shibaswap (BONE) and Doge Killer (LEASH). 

Also read: Gaming tokens are likely to recover with Hong Kong’s web3 plans

Shiba Inu development team prepares for release of Rocket Pond trailer

The Shiba Inu ecosystem’s metaverse is a project that has been under development for months. The project started in September 2022, and developers said via Twitter that the trailer of Rocket Pond, the first part of its metaverse, will be released Thursday.

Rocket Pond is one of the eleven hubs in SHIB’s metaverse and its design, based on a remote mountain resort, describes Shiba Inu’s journey and narrative. Makers of the SHIB metaverse’s hub said that it will be partially opened for users by the end of 2023. 

Shiba Inu ecosystem tokens likely to begin recovery

Developments in the Shiba Inu ecosystem are likely to have a positive impact on SHIB, BONE and LEASH. BONE price increased 1.7% in the last 24 hours, while LEASH price climbed 1.4% in the same period. However, SHIB price fell 1.9%. 

While the broader crypto market battles the US Securities & Exchange Commission’s enforcement actions, news of the metaverse development could support a recovery for assets related to the Shiba Inu ecosystem.

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

XRP recovery faces resistance as derivatives demand cools

XRP holds support at the 50-day EMA, but the 200-day EMA may limit recovery. XRP bulls battle to regain control, while momentum indicators remain downward, weighing on price action.

Crypto Today: Bitcoin, Ethereum, XRP stabilize defying macro headwinds and ETF outflows

Bitcoin is showing resilience, trading up above $76,000 on Thursday. The uptick follows the US Fed decision that hiked interest rates the day before. Meanwhile, ETH gains momentum toward $2,500, suggesting the return of bulls as macro headwinds settle.

Bitcoin extends cautious rebound as ETF outflows, hawkish Fed risks cap upside potential

Bitcoin extends rebound trading above $76,500 on Thursday after a mild recovery the previous day. The Fed’s hawkish outlook, alongside escalating Middle East tensions, could limit BTC upside potential.

Top Altcoins Price Forecast: Ripple, Cardano, Dogecoin – Downside risk looms amid market uncertainties

Ripple edges higher to $1.30 on Thursday, supported by its 50-day EMA at $1.28. Cardano holds near the short-term support trendline, with bulls attempting to reclaim the 50-day EMA at $0.1994.

Bitcoin: BTC retreats as macro headwinds grow
Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.