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Back in 2020, the ERC-20 token, Shiba Inu (SHIB), was created to copycat another eminent crypto, Dogecoin (DOGE). Despite the initial bearings of the platform, it has modified the fundamentals and is now equipped with a DEX, a metaverse platform, and is accelerating speedily towards token burning for long-term positioning. After rising to public attention during the 2021 bull market, Shiba Inu's developers have crafted several initiatives to help what started as a simple meme token gain traction as a more legitimate project.
Shiberse is the metaverse of the Shiba Inu meme currency, which will be a meeting point for owners of this digital token, with games and could include virtual land and non-fungible tokens (NFTs). The Metaverse is the Shiba Inu ecosystem's own metaverse space, described by developer Eric M as "a place where our community, tokens, game, ShibaSwap and way more is going to meet together."
Hosted on SHIB.io it will feature 100,595 plots of land that will be made available to purchase. These will all be placed on the metaverse map, lined with streets with Shiba-related names. The metaverse land will also contribute towards the SHIB burn, using a renaming process similar to the Shiboshi NFT burns. Shiboshi NFT holders will have an exclusive area of the metaverse, known as the Shiboshi Zone.
The token is also getting increasingly adopted for payment purposes, and the number of organizations that accept it is on the rise. It is one of the most dominating and interesting cryptocurrencies in the world today. It began its journey with quadrillion tokens, but now almost 50% of its tokens have burned. The predictions for the year 2022 include that Shiba Inu (SHIB) can reach US$0.0001 in the crypto market following the crypto winter. By 2023 the pricing is expected to rise to US$0.00015 in 2023 and by 2025 US$0.0002. The ecosystem for this token is still in its developmental phase, and this year, the performance is bound to escalate.
A prediction of Shiba Inu made by a crypto-research firm- Telegaon that employs AI has caught sight of the community. The firm expects SHIB to hit a maximum of US$9.61 by the year 2050. Learning from the detailed analysis, SHIB is expected to hit a new ATH by 2025, following the halving of Bitcoin. The analysts expect Shiba Inu to claim a new ATH by 2040. As the canine coin could have lost 50% of its supply to burns.
While the predictions are overwhelming for any SHIB holder, however, since the US$9 target is decades ahead. We cannot really expect things to unfold alike, as the digital asset would undergo an "n" number of events along the course of time. In a note-worthy instance, Shytoshi Kusama cited that the bear market opens up the best opportunity for one to buy or burn.
The statement coming from a known personality from the team has infuriated sections of investors. Who is now criticizing the platform for the lack of burn initiatives from their end? Talking of burn events, as of press-time 410,369,970,331,037 SHIB have been burnt from the initial supply. Wrapping up, with the initiatives such as developmental and burn events, the price of the meme coin could eventually rise to greater heights in the higher timeframe. Moreover, SHIB being one of the top holds of the top 100 ETH whales, will further upkeep the price during extreme volatility.
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