The past few days have been rough for digital currencies. Therefore, projects are trying to make the best of the hand that they’re being dealt. Many projects are making announcements in an attempt to keep losses to a minimum, like Cardano (CCC:ADA-USD) with the launch of its SundaeSwap (CCC:SUNDAE-USD) DEX. Shiba Inu (CCC:SHIB-USD) is another project finding the silver lining in the middle of a broader market crash. SHIB developers are keeping the #ShibArmy excited today with an announcement regarding its coming metaverse.
SHIB hasn’t been spared from the crypto crash, even after its unprecedented gains in autumn. The network saw gains of over 900% in just a few weeks time, bringing lots of eyes to the token that’s been dismissed time and again as a meme. But now, it’s shaving off these gains as a result of the crash. In the last week alone, SHIB has lost almost 30% of its value.
Of course, the market will remain pinned down until Bitcoin (CCC:BTC-USD) finds its floor. Indeed, the coin has an overwhelming majority of the crypto market share, and as such, it influences the entire industry with its price swings. In the meanwhile, though, SHIB developers are trying their hardest to force SHIB into the green.
Shiba Inu Limits Crypto Crash Losses With Metaverse Announcement
Shiba Inu is a trending topic on Twitter today thanks to the #ShibArmy — the dedicated bulls who promote the currency constantly on the platform. Users are posting over 44,000 tweets with the hashtag today. And the bullishness is not random; Shiba Inu developers are giving fans something to be truly excited for.
The next major Shiba Inu upgrade is on the horizon, as the SHIB team is announcing today. Developers are spurring lots of optimistic chatter on the Shiberse, a spin on the increasingly popular metaverse. After teasing the Shiberse throughout the end of 2021, the project’s leads say the space will be ready this year.
Indeed, Shiberse is making quite a statement to those who have been bearish on the project. SHIB developers are crafting the metaverse alongside prominent Australian game developer PlaySide Studio. The project is also being directed by former Activision Blizzard (NASDAQ:ATVI) developer William Volk. And with Microsoft (NASDAQ:MSFT) making moves to acquire Activision, SHIB holders are seeing the news as a bullish indicator for the direction the project is heading in.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.