Shiba Inu Team Gives Crucial Updates on Project Advancements
Shiba Inu marketing lead Lucie gave the SHIBArmy a glimpse into SHIB: The Metaverse. The recent X post highlights the project's progressive strides and upcoming updates. In the post, Lucie hinted at upcoming SHIB ecosystem developments that will be highly beneficial to the community members.
Lucie SHIB Shares Vital UpdatesCan't wait for the next sneak peek
. #ShibTheMetaverse has huge plans, and @treatsforShib are a big part of it.
IYKYK.
pic.twitter.com/8FgWwik0kp- | SHIB.IO
(@LucieSHIB) March 17, 2024
Lucie SHIB's update included a short video clip providing a sneak peek into SHIB: The Metaverse. Also, she looks forward to the next preview of the exciting developments in the Metaverse.
While Lucie SHIB did not go into the exact details of the big plans," she noted that TREAT, an upcoming token in the Shiba Inu ecosystem, could be a major part of the Metaverse.
According to Lucie SHIB, the TREAT token will have multiple functions in the Metaverse. It will be vital for liquidity in the soon-to-launch SHI stablecoin that will replace BONE as the reward token for ShibaSwap.
Furthermore, TREAT will be used to reward SHIB: The Metaverse users and players of Shiba Eternity, a Shiba-Inu-themed card game.
However, an official launch date for TREAT or the Metaverse is yet to be announced. Nonetheless, the eventual launch of SHIB, the Metaverse, could be the catalyst for transforming Shiba Inu from a memecoin to a utility ecosystem.
Since the introduction of SHIB: The Metaverse in 2021, progressive strides have been recorded. For instance, in 2022, over 100,000 virtual plots were put up for sale in the Metaverse, confirming the project's appeal to investors.
This announcement by Lucie SHIB prompted a positive response from a crypto enthusiast, Jack Jones, who believes SHIB: The Metaverse has the potential to be the biggest and best Metaverse in the world.
Jone also claims that BONE, another prominent token in the Shiba Inu ecosystem, will rally alongside SHIB when these updates are finally unveiled.
These developments have resulted in bullish price speculation for the SHIB token by the Shiba Inu team. The team believes that SHIB may rally to $0.00008845 before the Bitcoin halving in April. However, SHIB currently trades at $0.00002582, with modest price gains.
How is SHIB Faring in the Market Today?
SHIB rallied from February 26 - March 4 before entering a downtrend from March 5-19. However, despite the sellers' pressure, SHIB has found support at the $0.000024 support zone, which prevents further decline. SHIB has formed a green candle on the daily chart, confirming a return of the buyers as they attempt to rally and break above the $0.000027 price level.
A break above this price level will move SHIB to $0.00003. SHIB is approaching the Median Band of the Donchian Channel (DC), a sign of recovery.However, buyers should wait till the candle crosses the Median Band for confirmation.
Furthermore, the Relative Strength Index (RSI) is rising from the neutral zone with a value of 51.29.
If the RSI rises to 60, it confirms that the buyers have regained market control. SHIB will likely transition into an uptrend in the coming days, but traders should be wary of possible price corrections and manage risk exposure.
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