SHIB, the token powering the second most popular meme coin ecosystem, Shiba Inu is still hanging loosely on the cliff’s edge. However, there is a higher probability of the outcome flipping bullish bolstered by the soon-to-launch metaverse.
Shiba Inu is exchanging hands at $0.00001030 on Saturday, after staying relatively unchanged in the last 24 hours. The majority of digital assets are showing vivid bullish signs but with volatility lacking, price movement could remain suppressed throughout the weekend.
Meanwhile, for Shiba Inu, support at $0.00001 must hold in place to avert the possibility of declines gaining traction to test December lows of $0.0000078.
On the other side of the fence, if SHIB rebounds from the same support at $0.00001, that situation could change drastically in favor of a breakout to $0.00001574 – highs achieved in February.
Shiba Inu Reveals New Metaverse – The Rocket Pond
Shiba Inu developers have announced the launch of a new metaverse world called the Rocket Pond. Although details of the new metaverse remain hidden, the team is conducting a giveaway to usher in the new era. Participants would be looking at winning land titles in the metaverse.
Investors currently buying land in Shib – The Metaverse part with $0.2 ETH or roughly $380, the giveaway includes 10 land titles and requires only a like and a retweet to enter.
The SHIB Token’s official website has undergone a recent revamp and now features a 3D flyover. Presently, metaverse aficionados can explore the WAGMI Temple Flyover, which serves as the inaugural HUB in the SHIB: The Metaverse series.
In a recent blog update, the SHIB team revealed that Rocket Pond aims to showcase the journey of Shiba Inu through a visually appealing representation while capturing the essence of a secluded mountain getaway.
Moreover, its architectural inspiration is drawn from various well-known landmarks, such as Lake Tahoe and Cape Canaveral, blending them seamlessly into its design.
“Rocket Pond brings the feel of a hidden resort inside of mountains, The YMCA or KOA camping vibe with the wilderness around you mixed with modern luxuries/touristy elements. Crystal clear waters with wildlife mixed with resort buildings that lead up to the mountains,” the team said in the blog post.
Shiba Inu Price Wobbles but Recovery Awaits
SHIB bulls have been holding onto support at $0.00001 since the price corrected from $0.00001574 around the second week of March. Attempts to break acute resistance at $0.000012 have been frequent but again, none were successful.
Having said that, bulls have very few options but to weaken the seller congestion zone and pave the way for a substantial rebound, first to $0.00001574 and later to close the gap to the all-time high of $0.00008616.
The launch of the Rocket Pond has the potential to make SHIB more attractive to buyers in the market, especially those that might be feeling already sidelined by larger assets like Bitcoin and Ethereum.
Whales are accumulating massive amounts of Shiba Inu (SHIB), with the 19th biggest Ethereum whale acquiring a staggering 76,316,827,917 SHIB tokens. Furthermore, the same whale has secured an additional 69 billion of the Japanese guard dog-themed digital currency.
Regarded as a positive indication, this whale activity suggests a growing concentration of large holder positions, hinting at strengthened market confidence.
According to the Stochastic Shiba Inu is at the start of a trend reversal with a break above the descending trendline on the daily chart likely to trigger a major upswing in the coming days.
This article was originally published by CryptoNews.