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The journey to having a 1 cent Shiba coin is ongoing. However, it requires Key Shiba Coin technologies to help in realizing this dream.
Although the coin is still categorized as a meme coin, it is slowly becoming a mainstream coin due to the various innovation and developments it has undertaken in the last few months.
Meme coin refers to cryptocurrencies that lack any major utilizations. The term was first given to dogecoin and later to other coins such as Shiba.
Shiba is busy developing solutions that will be key in growing its future prices such as the Non-fungible tokens, Metaverse games, and the Shibarium.
These developments will be key in growing coins utilization. In return, growth in user numbers will create demand causing the coins price to rise.
Non-Fungible Tokens (Shiboshis)
NFT technology was launched in 2015 on the Ethereum network. Since then, the industry has risen to become a multimillion-dollar market with thousands of investors using it daily.
NFT allows the trading of digital assets such as art. This concept is revolutionizing this sector by making it more lucrative. Millions of creators are joining every day and this could only grow in the future.
Shiba launched its first NFT tokens in mid-October this year. A list of 10,000 images is known as Shiboshis. After release, they were all taken up within the first few hours with an average gain of 30% within a month.
This indicates market confidence in this product. As the market matures, there will be more value creation propelling the price of SHIB higher.
As the leading transactional coin for the Shiba ecosystem, the benefits of NFT tokens will help propel it to the $0.01 mark.
Shiboshi Metaverse Games
Shiba made a recent announcement on its plans to venture into the metaverse industry. This involves the creation of a gaming product known as Shiboshi games.
Metaverse technology is new in the market with most of the implementation so far remaining in theory. However, it’s starting to mature with some players starting to launch their first products.
In the decentralized space, we have other players that compete with Shiba such as Decentraland and Sandbox.
Shiba plans to create its Shiboshi games using the 10,000 NFT images already on market. To achieve this, it has hired a top gaming expert known as David Volk.
Successful rollout of these metaverse products will position Shiba among the market leaders. In the long term, this will be key in driving its price growth as more consumers start using these products.
Ultimately, it could be a key driver in getting the coin $0.01.
Shibarium refers to a new Shiba blockchain that is an ongoing development that will sit on top of the existing Ethereum network.
Developing its blockchain network will be a game-changer for the coin as it will give it flexibility and the ability to accelerate innovation and partnerships.
Currently, Shiba runs on the Ethereum blockchain making it vulnerable to challenges associated with the network such as high gas fees.
With its network, Shiba will manage and control these challenges and help it grow its partnerships. The actions will be a key price driver helping the coin get to the 1 cent value.
Hence, these Shiba Coin technologies will be key in its future growth.