- Shiba Inu fans await big news about the TREAT token and the metaverse, boosting excitement and engagement in the community.
- SHIB price sees ups and downs, trading at $0.00002798, with a recent surge in transaction volume indicating heightened activity among institutional investors.
A renowned figure of the Shiba Inu community named Lucie recently hinted at big plans in the works when she predicted the impending release of the Shiba Inu metaverse in a tweet. Holders of SHIB were excited by the tweet and the little video clip that accompanied it, as Lucie confirmed that the TREAT token would be crucial to the upcoming advances. The community is eager to learn more about ShibTheMetaverse’s broad vision and the potential it presents for SHIB holders, and their excitement is evident.
Can’t wait for the next sneak peek
. #ShibTheMetaverse has huge plans, and @treatsforShib are a big part of it.
IYKYK.
pic.twitter.com/8FgWwik0kp— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO
(@LucieSHIB) March 17, 2024
One of the main functions of TREAT, the upcoming token in the Shiba Inu ecosystem, is to reward SHIB holders in the metaverse. TREAT is also anticipated to increase SHI stablecoin liquidity, possibly replacing the BONE token as ShibaSwap’s reward system. Furthermore, TREAT aims to offer incentives to players of Shiba Eternity, the blockchain version of the collectible card game with a Shiba Inu motif. Given its many uses, TREAT is a valuable tool that will help strengthen the Shiba Inu ecosystem and increase community member engagement.
Market Analysis: Shiba Inu Price Dynamics
Amidst the hype around the Shiba Inu metaverse and the upcoming role of the TREAT token, the SHIB price has undergone substantial changes in recent days. Shiba Inu was trading at $0.00002798 at the time of posting, representing a minor gain of 4.13% within the last 24 hours. After a brief decrease over the weekend, SHIB investors are relieved to see this comeback. SHIB has decreased by 18.29% over the last seven days despite the recent upswing, underscoring the inherent volatility of cryptocurrency markets. With the Relative Strength Index (RSI) hovering around 51, the token indicates a neutral market sentiment devoid of overbought or oversold conditions.
Intriguingly, Shiba Inu’s transaction volume has soared by 37.95% within the last 24 hours, reaching $363.17 million, according to IntoTheBlock data. This spike in transaction volume reflects increased engagement between whales and institutional actors in the Shiba Inu ecosystem. Notably, substantial movements by institutional investors are frequently signaled by enormous transaction volumes, as the 12.18 trillion SHIB observed in the last 24 hours indicates their interest and impact on the market.
Burn Surge Drives Market Sentiment
The surge in Shiba Inu’s price can be attributed to a wave of market optimism fueled by a remarkable increase in burning activity. Shibburn statistics show that in the last 24 hours, the burn rate for SHIB increased by an incredible 2,367%, burning 186 million coins. As the Shiba crypto community steps up efforts to improve SHIB tokenomics, this spike in burning activity has increased market optimism.
The community’s joint actions, which included large transfers to a dead wallet, have significantly impacted the increase in burn rate. Two large-scale transfers of 16.68 million SHIB and 168 million coins highlight the community’s commitment to supporting Shiba Inu’s tokenomics. The community’s dedication to improving SHIB’s supply dynamics is reflected in these measures, which have also contributed to the recent burn boom.
