CJ - Cryptocurrency Enthusiast
Through the course of this year, SHIB's price has fallen due to the instability on the 2022 market
Some of the project's highlights include the SHIB metaverse, huge token burning, and increased whale activity
The cost of SHIB has increased 0.27% during the previous 24 hours
The whole crypto market has seen a bumpy year in 2022. Despite this year's market volatility, the popular meme coin Shiba Inu (SHIB) has been able to seize some opportunities.
The development of the project has not been hampered by the market instability that has driven SHIB's price down this year. The project's hallmarks include huge token burning, whales' extensive accumulating activities, as well as the SHIB Metaverse's rapid growth. The chance of a future price rise has grown as a result of all these developments.
The token burn mechanism for SHIB has been stepped up in 2022 in a desperate bid to lower the enormous supply that is wreaking havoc on the viral meme coin. This movement has been mostly driven by the Shibburn community, who burn several million SHIB every day, using up the whole supply of SHIB.
Whale activity has also been high during this bear cycle. In addition to SHIB investors who have been hanging onto their SHIB tokens for at least a year, long-term holders are said to make up a cohort that includes them, according to IntoTheBlock. Last but not least, the SHIB metaverse, which was introduced earlier this year, has become more than simply a straightforward virtual environment. SHIB holders can purchase and sell land, but users can also begin earning prizes by taking part in games in the SHIB-based virtual world.
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