Shiba Inu (SHIB), one of the meme cryptocurrencies, was sold due to the situation in the market and its price dropped considerably. The price of SHIB slumped further as interest shifted from meme coins, let alone the overall market crash.
Like other cryptocurrencies, SHIB also gained a little in value in July, with an increase in the number of transactions.
Decreasing Value of SHIB
The SHIB that was all eyes on when it first came out. When it came out, it caught a movement in the market and rose quite high. SHIB reached its highest value last October. In addition, it saw its peak in terms of transaction volume in October 2021. Continuing to fall in trading volume and value since ATH made it, SHIB started to show signs of recovery in July.
Network Development of SHIB
With interest waning, SHIB developers felt the need to add something new to the blockchain. For example, SHIB developers recently announced SHIBVerse. Then, SHIB announced the game, Shiba Eternity, that it will be released on Google Play and App Store very soon.
SHIB also announced that it has partnered with visualization firm The Third Floor (TTF), which has worked on several Marvel movies. As part of the agreement, TTF will design the metaverse world of SHIB. It is worth mentioning that the development of the network has been of little benefit to SHIB. Especially after the token’s meteoric rise last year, the criticism of the token’s difficult use was effective in this development.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.
