• Shiba Inu price started an uptrend, posting double-digit gains over the past week in response to new announcements on the SHIB metaverse.
  • In this metaverse, SHIB, LEASH and BONE will play a key role as the project evolves. 
  • Analysts have identified a cup-and-handle formation in Shiba Inu price trend, predicting a bullish breakout in the Dogecoin-killer. 

Shiba Inu price is on track for a breakout after the latest announcement in the Dogecoin-killer’s ecosystem. The launch of SHIB metaverse opens a virtual world of possibilities for SHIB, LEASH and BONE holders. 

Shiba Inu could break into an uptrend

Shiba Inu price could break into an uptrend in response to the latest announcement from the Dogecoin-killer. SHIB metaverse, a digital world made up of shared virtual spaces, could mark the next milestone in Shiba Inu’s journey as an ecosystem. 

The announcement reveals a metaverse project rolled out in phases. The Shiba Inu community will play a key role in the SHIB metaverse, exploring and interacting with NFTs in the metaverse. 

Shiba Inu’s metaverse will feature 100,595 plots of virtual land, each offering an immersive environment to the community. While some lands may remain locked as key locations for travel, others will be up for private ownership or common use. 

The Dogecoin-killer’s metaverse will feature avenues, boulevards, hubs and grounds for purchase. In its introductory phase, SHIB metaverse offers 36,431 plots of land as part of Growth, Defense, Technology and Currencies districts. 

SHIB metaverse-based plots are divided into four categories and prices between 0.2 ETH to 1 ETH. The team has decided to use Ethereum as a land pricing token to ensure there is no downside risk to the price of Shiba Inu. 

Developers believe using the ecosystem’s token poses a risk as this would involve selling and cashing them out for use. Therefore, Ethereum is used for pricing. 

Owners of virtual land in the SHIB metaverse will generate passive income, collect in-game resources and generate rewards, according to the announcement by developers. 

The statement reads, 

We will be introducing the first special role that Shiba Inu $SHIB will play in the Metaverse. By welcoming a mechanic to burn $SHIB independently while renaming your land plot, furthermore, this should start soon after land events and public sale have ended.

 

The launch of SHIB metaverse is a milestone event in the development of Shiba Inu. Proponents predict it will have a positive impact on Shiba Inu price. 

 

FXStreet analysts have evaluated the Shiba Inu price trend and identified a reversal pattern. Analysts noted an Adam and Eve pattern, a sharp valley formation followed by a round bottom. The pattern indicates a potential 21% upswing in Shiba Inu price. Analysts believe the meme coin targets $0.00035 in the ongoing price rally. 

 

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