Massive SHIB Burn Incoming as Shiba Inu Prepares to Advance Into Trillion-Dollar Metaverse
DailyCoin
Published Dec 06, 2021 10:01AM ET
Updated Dec 06, 2021 12:02PM ET
Massive SHIB Burn Incoming as Shiba Inu Prepares to Advance Into Trillion-Dollar Metaverse
Token/coin burning is becoming increasingly popular among crypto projects. When coins are burnt, they are either destroyed or removed from circulation, thus reducing the supply. By making a coin scarcer, its price increases, benefiting investors as a whole.
The second largest meme coin, Shiba Inu, is expected to undertake a massive burn in the coming weeks. Although Shiba Inu is not new to the deflationary technique, this particular burn is predicted to be the biggest in the network’s history.
When is the SHIB Metaverse?
Ryoshi, the founder of Shiba Inu, has explained that the burn will prepare the network for its own metaverse. At the moment, there are 589,736,561,989,744 SHIB.
At the request of Guardians of Shib, he has hinted that The Shiba Inu Core Devs (SICD) are working towards developing Shiba Inu’s own metaverse, known as “Oshiverse.” The anonymous developer stated:
“We are working on so many aspects of Shiba Inu including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator and much more that won’t become evident until the near future.”
Shiba Inu into Blockchain Gaming
According to Shytoshi Kusama, one of Shiba’s lead developers, the project is looking to turn its focus towards blockchain gaming.
Shytoshi Kusama says that Shiba Inu is working on a project termed the “future of gaming,” which will be an industry game-changer.
He went on to reveal that Shiba has gotten help from game developer and former VP of Technology at Activision, William David Volk, to build a game better than those of other metaverses. The game would be built on Shibarium, a layer-2 network that is a work in progress.
On the Flipside
- Despite developments on the network, SHIB continues to underperform, and is currently down by more than 61% from its ATH at the time of writing.
Why You Should Care
Building a metaverse will increase the use cases available to Shiba Inu – a move which could help the price of SHIB to rally.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Get The News You Want
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.