Shiba Inu to enter the metaverse and challenge Axie Infinity, Sandbox, and Decentraland
- Dogecoin-killer Shiba Inu has ventured into the metaverse with its project Shiba Lands.
- Developers of Shiba Inu have announced a new project to allow the purchase and sale of digital real estate.
- The arrival of Shiba Lands puts the Dogecoin-killer in direct competition with metaverse projects in the crypto ecosystem.
- Analysts have a bullish outlook on Shiba Inu, predicting that the memecoin could continue its uptrend towards $0.0000500.
Shiba Inu developers announced the Dogecoin-killer’s entry into the metaverse, posing as a rival to Axie Infinity, Sandbox and Decentraland. Analysts predicted a Shiba Inu price rally with the rising demand for the memecoin.
Shiba Inu could challenge metaverse tokens with Shiba Lands
Shiba Inu developers announced that users could own virtual real estate in the metaverse. The Shiba team has expanded the memecoin’s metaverse and released properties in the memecoin’s universe.
The new development will allow users to own real estate in the Shiba Inu ecosystem through a queue system for bidding properties. According to the announcement, LEASH holders would be given the first priority in the purchase of digital real estate.
Users will bid on land once it is released. The team is yet to declare a date for the release. LEASH and BONE in the Shiba Inu ecosystem are the primary tokens for users to gain added advantage.
Institutions and retail investors have consistently poured capital in digital land in metaverse projects like Decentraland. With the launch of Shiba Lands, demand for assets in the Shiba ecosystem could rise.
Analysts have evaluated the Shiba Inu price trend and predicted that the memecoin would preserve its uptrend.
FXStreet analysts believe that the Shiba Inu price could bounce around the supply support zone at $0.0000326 and make a run for resistance at $0.0000390. Analysts predict that the Shiba Inu uptrend is capped at $0.0000390.
Author
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.
