Shiba Inu: How SHIB Eternity Can Help Change SHIB’s Destiny

Shiba Inu: How SHIB Eternity Can Help Change SHIB’s Destiny

Shiba Inu, one of the most popular meme coins in the world, has not made any promising price moves lately as it registered a negative growth of 6% in the last seven days. But with more developments happening in the ecosystem, SHIB can help turn the tables in its favor.

For example, the SHIB download day for SHIB Eternity was recently announced to be October 1, 2022. Shiba developers mentioned last year that they would launch SHIB Etherenity, a card-based game, within the next year, and that seems to be true. This news was also followed by other positive episodes, which have the potential to push SHIB’s price upwards.

What is new?

Apart from the announcement of the launch date, another important update was revealed: 5% of the total profit from the game will be used to burn SHIB.

This gave investors further joy as it was positive news for long-term investors. SHIB, which is already burning millions of tokens daily, has burned over 16 million tokens in the last 24 hours.

The community’s trust in the token was further proven when SHIB recently topped the list of cryptos held by the top 2000 ETH whales.

Interestingly, another study found that 30% of Shiba Inu’s investors hold the meme coin for investment purposes with a long-term perspective.

Therefore, the increased burn rate and the plan to utilize the 5% profit of SHIB Eternity gives investors hope for brighter days in the long run.

Here’s what you can expect

Although SHIB failed to register any massive gains of late, the price of the meme coin followed this news.

At the time of writing, SHIB was trading at $0.00001078, slightly higher than in the last 24 hours, with a market capitalization of $5,921,568,523.

Interestingly, SHIB’s MVRV ratio also registered an increase compared to last week. The coin’s social volume followed a similar route, growing slightly in recent days.

Source: Sentiment

Although the calculations and SHIB’s current price action do not directly indicate a northward movement anytime soon, but considering all the positive developments in the community, we can expect these surges to reflect on SHIB’s chart in the months to come.

However, CryptoQuant’s data revealed that SHIB’s Relative Strength Index (RSI) was in a neutral position while its Stochastic showed that the market was oversold, which could also help SHIB register a faster than expected rally.

Source: CryptoQuant

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