Shiba Inu’s Price Soars After Major Metaverse Universe Announcement

MetaversePlanet April 14, 2022Last Updated: August 14, 2024

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Shiba Inu recently made a significant announcement related to the Metaverse universe, leading to a sixfold increase in its price.

Please note that this content is created solely for informational purposes and does not constitute investment advice.

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Land auctions launched in the Shiba Inu Metaverse universe!

The popular joke coin, Shiba Inu, has recently announced a significant development for the Metaverse universe. The initial phase of land acquisition in the virtual world of Metaverse has been initiated, and the bidding process is expected to last for three days.

Previously, all bids were conducted using Ethereum. Starting today, users have the opportunity to explore and purchase plots within the Metaverse universe. A total of 36,431 plots out of the available 100,595 will be made available for sale.

The plot will be automatically awarded to the highest bidder.

A user places a bid for a plot, and if another user submits a higher bid within 72 hours, the land is automatically awarded to the higher bidder.

The Shiba Inu developers have the option to sell all plots during the event. Additionally, after the three-day event, unsold plots will be made visible, and anyone can bid on and purchase them. Therefore, a total of 66,000 plots will be available for sale in the upcoming days.

The project developers have introduced several features to enhance the value of Shiba Inu. HUBS, the highest-value lands in the metaverse area, can be rented using SHIB.

Interested users can access an inquiry form for rental purchases. Furthermore, the purchased plots can be customized by renaming them and adding a logo, allowing buyers to tailor the land to their identity.

After announcing the event, the Shiba Inu experienced a 6-fold increase in price.

The Shiba Inu price has recorded significant gains, driven by strong fundamentals, with double-digit returns overnight. Despite this, the token remains 65% below its October 2021 peak. SHIB showed a 2.7% increase last week, making it the best-performing coin among major cryptocurrencies currently.

The transaction volume of this popular meme coin surged by 496%. Analysts suggest that its price could reach $0.0006 by the end of April.

Also, two Ethereum whales bought a large amount of SHIB.

During recent declines, Ethereum whales named ‘Light’ and ‘Bombur’ have continued to accumulate Shiba Inu, adding $8.95 million worth of the cryptocurrency to their holdings in the past two weeks.