What is happening to one of the most famous meme coins, Shiba Inu? The situation seems not to be the best in an overall picture that sees the entire cryptocurrency market suffering ups and downs.
It seems that proponents of a possible crypto and NFT bubble may risk being right.
Continuing in this direction, in an uncertain and challenging global environment, digital currencies risk losing ground bitterly just like $ SHIB did.
Despite the leap in the last few hours, Shiba Inu is confirmed around 0.000011 Euros, however, resulting in a sharp decline in the weekly and monthly, not to say annual, charts.
The common idea that it could only have speculative value seemed to be able to be circumvented by a new video game called Shiba Eternity: unfortunately, however, it did not go as expected.
Communities and fans have strongly criticized the game and the price has not received any particular benefits since its launch.
Decline of Shiba Inu, here are the possible reasons
In the past few hours, $ SHIB has certainly increased its value from 0.000009648 to 0.000011, gaining a lot of ground.
However, it is indisputable that the decline of Shiba Inu in recent days is the result of a cryptocurrency that has not been able to add value to a project born for fun and as a mere imitation.
Its depreciation was not something capable of surprising the most experienced traders so much, but it undoubtedly remains one of the top 15 cryptocurrencies by market capitalization.
It is therefore obvious that behind us we have a community that continues to support the meme-coin.
The development team has thus decided to incentivize investments in Shiba Inu by creating a long-awaited game!
Shiba Eternity: what is it?
The launch took place weeks ago, but it has only recently been made available. I’m talking about Shiba Eternity, a mobile card game available today on the Apple Store and Google Play for anyone who wants to download it.
Obviously it is an initiative that leverages the huge amount of fans that have accompanied the canine crypto since 2020, probably aiming to provide new life to the increasingly arid crypto, unable to offer exciting experiences for users.
Shiba Eternity features the classic turn-based card game in which challengers must drop the opponent’s points to zero to claim victory.
However, despite the different types of attacks and spells, there is no particular innovation. Which makes the game flat and devoid of any particular appeal.
No NFT in the new $ SHIB game
Could Shiba Eternity be able to pump the price of $ SHIB? In addition to the game experience that is not at all innovative, there is no use of the eponymous cryptocurrency.
It is true that part of the proceeds will go to the Shiba project, but any purchases will take place only through the most classic payment methods, no interaction with any crypto.
A disappointment for fans of Web3 and digital currencies, considering that NFTs won’t be there either.
Yes, in short, a classic smartphone game, nothing crypto.
Shibarium, the community’s choice
Another project could, perhaps, revive the fate of the canine meme-coin, certainly more appreciated by the communities than Shiba Eternity.
Shibarium, a Layer2-type blockchain solution, aims to reduce gas fees considerably, making it easier for investors to get $ SHIB in quantity. Furthermore, the L2 network could have a portal dedicated to the removal of the crypto $ SHIB from circulation.
Shibarium could use the minimum gas tariffs to burn and thus remove cryptocurrencies from circulation. However we will have to wait for an official confirmation, however it is much more interesting news and with a more likely impact than Shiba Eternity.
At least as regards the price of Shiba Inu which could be more positively affected by such an initiative than what was done after the release of any game!
Is it worth investing in Shiba Inu?
A question that finds multiple answers. Despite, in fact, the criticisms of the communities, Shiba Eternity has enjoyed some success in downloads and the further “token burning” of the crypto in question could lead the value of $ SHIB to increase.
Unfortunately, however, we cannot deny that it is still a project born and based on a varied community, devoid of a specific purpose and / or precise utility. Which does not allow you to have much faith in the possibility of another boom.
We advise caution in evaluating an investment in Shiba Inu and certainly to consider other possibilities in the sector that may be more appropriate to your needs.
Read also: Big Eyes Coin, the most successful meme coin? 6 reasons to buy it