Shiba Inu Receives an Invitation from the WEF to Discuss the Metaverse: Is a SHIB Price Increase Coming?
The Shiba Inu community is now holding an online vote to decide whether the project will accept the World Economic Forum’s (WEF) offer to engage with them on establishing a Global Metaverse Policy.
Over 18,000 votes have already been submitted in the poll being conducted by SHIB creator Shytoshi Kusama via Twitter as of the time of this writing, and more than 60% of respondents are in favor of accepting the offer for a relationship with WEF.
Kusama has earlier made it clear that Meta, Decentraland, and Sandbox will all be involved in the metaverse-related project.
Unfortunately, despite this encouraging growth and what appears to be a sign of confidence in Shiba Inu, the SHIB token still finds it difficult to increase spot trade prices.
Monitoring Shiba Inu Prices and Other Important Metrics
Shiba Inu is now trading at $0.00000903 at the time of publication, according to the most recent tracking from cryptocurrency data aggregator Coingecko, and has already lost about 2% of its initial value over the past seven days.
The meme cryptocurrency was already feeling the effects of the continuing bear market and was forced to give up its position as the 14th largest cryptocurrency in terms of market capitalization.
Although the asset’s entire worth rose by 8% during the past 24 hours, it wasn’t enough to reclaim its previous position on the list; instead, it fell to 15th place with a $5.32 billion total valuation.
Top Ethereum whales recently demonstrated their persistent faith in the cryptocurrency, which accounted for 3.14% of their total holdings and had an estimated value of almost $70 million, despite this poor performance.
The number of active addresses for the asset has also significantly increased, rising from over 80,000 in late October to over 130,000 at this time.
Shibarium: A Hopeful Precipice
The Layer 2 scaling solution called Shibarium, which will be built on top of the SHIB protocol and enable it to operate more like a standalone network, is still something that the Shiba Inu community is eagerly anticipating.
It includes a built-in mechanism that will let coin owners burn their tokens in an effort to lessen the overabundance of the coin.
Shiba Eternity, a blockchain-based card game that was released in September of this year, will have to do for now for the community.
Similar to the Shibarium, this TCG is important for the burning of SHIB tokens and raises demand, which will most likely result in an increase in price.