Shiba Inu to enter the metaverse and challenge Axie Infinity, Sandbox, and Decentraland

Dogecoin-killer Shiba Inu has ventured into the metaverse with its project Shiba Lands.
Developers of Shiba Inu have announced a new project to allow the purchase and sale of digital real estate.
The arrival of Shiba Lands puts the Dogecoin-killer in direct competition with metaverse projects in the crypto ecosystem.
Analysts have a bullish outlook on Shiba Inu, predicting that the memecoin could continue its uptrend towards $0.0000500.

Shiba Inu developers announced the Dogecoin-killer’s entry into the metaverse, posing as a rival to Axie Infinity, Sandbox and Decentraland. Analysts predicted a Shiba Inu price rally with the rising demand for the memecoin.

Shiba Inu could challenge metaverse tokens with Shiba Lands

Shiba Inu developers announced that users could own virtual real estate in the metaverse. The Shiba team has expanded the memecoin’s metaverse and released properties in the memecoin’s universe.

The new development will allow users to own real estate in the Shiba Inu ecosystem through a queue system for bidding properties. According to the announcement, LEASH holders would be given the first priority in the purchase of digital real estate.

Users will bid on land once it is released. The team is yet to declare a date for the release. LEASH and BONE in the Shiba Inu ecosystem are the primary tokens for users to gain added advantage.

Institutions and retail investors have consistently poured capital in digital land in metaverse projects like Decentraland. With the launch of Shiba Lands, demand for assets in the Shiba ecosystem could rise.

Analysts have evaluated the Shiba Inu price trend and predicted that the memecoin would preserve its uptrend.

FXStreet analysts believe that the Shiba Inu price could bounce around the supply support zone at $0.0000326 and make a run for resistance at $0.0000390. Analysts predict that the Shiba Inu uptrend is capped at $0.0000390.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.