Shiba Inu Price Looking for New Support, Shiboshi Game In Development
The price of Shiba Inu dropped from $0.000047 to a low of $000039 this week, breaching the $0.00004 support level and currently testing $0.00003. Since hitting an all-time high of $0.00007 in late October, the price of Shiba Inu has been lower. Is SHIB a good investment for 2022, and what is its future? Let’s find out.
If you haven’t heard about Shiba Inu, it’s the most popular meme token on the market. The token had incredible gains in October after its price surged quickly.
Shiba Inu has one of the largest communities supporting it, called #SHIBARMY, and this is one of the main reasons for the success of the SHIB token. The SHIB token runs on the Ethereum blockchain and can be purchased via most major exchanges.
Shiba Inu SHIB Update
There are many articles today about Shiba Inu focusing on SHIB’s bearish momentum, but none mention the recent Medium article by Shytoshi Kusama – Shiba Inu’s developer. In the article, Shytoshi reveals some details about a new AAA-title Shiboshi game. Shytoshi said:
“To let you know that this is real, we are now under a mutual NDA. This NDA is vital to us having competitive advantage over all the other gaming, “metaverse”, and NFT system clones that will pop up the moment I hit send.”
As part of the announcement, the team also revealed that William David Wolk has been found as the game developer.
Bill Wolk has extensive experience in the AAA gaming industry, working at Activision as VP of Technology. He is also credited with developing the first iPhone game, making him an excellent choice to lead the Shiboshi Inu Games version of the game.
Shiba Inu Price & Tokenomics
Shiba Inu is currently trading at $0.000037, down 2.95% in the past 24 hours. The company boasts a market cap of $20.7 billion, with a 24-hour trading volume of $2 billion.
Unless major news about Shiba Inu breaks and reverses the market’s momentum, SHIB is likely to continue its downward trajectory. It wouldn’t surprise to see the price of SHIB test the $0.000027 support level before attempting to rise.
In spite of this, the long-term outlook for SHIB is still positive. It’s a common trend in crypto to see a cryptocurrency deal with bearish momentum for months on end, only to see insane price gains for a few days.
New users continue to purchase SHIB as a top choice, and major exchanges like Crypto.com, WeBull, and Coinbase continue to advertise it.
As Binance CEO Changpeng Zhao said best:
“If you can’t hold, you won’t be rich.”
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
