Should I take one Shiba Inu (SHIB), One Of The Leading Meme Coins?

19 days ago
Shiba Inu token
Shiba Inu token

Shiba Inu is a cryptocurrency that was initially created as a meme token; but it has introduced other tokens, such as ShibaSwap, the LEASH, BONE tokens, as well as the Shiba Inu Metaverse. On March 30, 2022, the Shiba Inu team made an official announcement where they introduced SHIB: The Shiba Inu Metaverse. This sounded bullish for the meme coin. Since the use case of the token has increased, it would also have a positive impact on the token. The LEASH and BONE tokens will play a significant role in the newly announced metaverse, as they will be used in the metaverse.

Furthermore, one of the major Bitcoin Automatic Teller Machine (ATM) operators in the United States, Bitcoin of America on April 4, 2022, announced that the Shiba Inu is now available across all Bitcoin of America (BTMS), so traders can now buy Shiba Inu coin at all BTMS.  Also, in April, Shiba Inu won the BitPay Brackets Tournament for this year. So for the year 2022, Shiba Inu is the crowned champion of the BitPay Brackets.

The Shiba Inu Metaverse

The Metaverse has been a major trend in the crypto space since 2021, the founders of Shiba Inu don’t want to be left out and Shiba Inu is launching its metaverse called SHIB with over 100,595 plots of virtual lands. In the initial stage, the plots are divided into four categories: Silver Fur (Tier 4) with 17,030 Lands, Gold Tail (Tier 3) with 7,356 Lands, Platinum Paw (Tier 2) with 5,714 Lands, and Diamond Teeth (Tier 1) with 2,024 Lands. There is also a category called HUBS (Private Locked) with 4,307 Lands.

The parts of the virtual land that are very important for the SHIB will remain locked and will be used as common grounds,” Avenue, Boulevards, and Hubs and they will represent roadways, with public ones available for sale”. 36,431 pieces of virtual land will be opened during SHIB. The minimum and fixed prices for each Tier are – 0.2 $ETH for (Tier 4) Silver Fur; 0.3 $ETH for (Tier 3) Gold Tail; 0.5 $ETH for (Tier 2) Platinum Paw; and 1 $ETH for (Tier 1) Diamond Teeth.

The virtual land can be purchased using Ethereum, the developers said they decided that anyone who wants to buy land in SHIB uses a neutral coin because they want a coin that will be sold into stable coins. According to the SHIB developers, every user who owns land in SHIB will be able to burn the native Shiba Inu token for landholders on SHIBA to rename their land. The Metaverse will be able to generate passive income, gather in-game resources, and generate rewards.

However, the creator of Dogecoin, Billy Markus, “took to his Twitter handle that he is not impressed and believed that the metaverse will not add to the utility of the Shiba Inu project”. On the Twitter page, he wrote “How is making a random metaverse and selling fake land with Ethereum adding utility to their project?”. In the crypto space, the utility of a project is very important and that is one key factor to consider before investing in a project. 

You can buy Shiba Inu on Gate.io at $0.000024611 as of the time of writing. Investors need to consider if an investment in Shiba Inu is a good one or not.