Shiba Inu (SHIB) has witnessed a significant price decline since last year’s peak. As of this writing, the trading price of the dog-themed memecoin is $0.00001263.
With such a pessimistic market situation, the release of Shiba Eternity on the blockchain may decide the mindset of SHIB investors.
Shiba Eternity is a blockchain-based card game themed around the meme coin. The game’s developer discussed the game at Gamescom 2022. Since its release on the IOS store one month ago, the game has been a huge success.
William Volk, an expert in the gaming industry, discusses Shiba Eternity at the aforementioned event. He praised the speed and functionality of the game.
When asked about the game’s IOS release, he responded:
“It was a lot more than that, but I didn’t want to sound like an ass. It was actually a 100-fold increase.
Shiba Inu Game For ‘Sustainable Economy’
Shibarium, a layer 2 upgrade for meme coin, will be included in the forthcoming blockchain version of the game.
Supposedly, the improvement would make the coin more environmentally friendly. Volk also acknowledged this upgrade, praising the chief developer of Shiba Inu, Shytoshi Kusama.
“It will be a sustainable economy,” Volk said of the L2 upgrade, “regardless of the price of cryptocurrencies.”
SHIB’s high transaction fees can also be attributed to its heavy use of the Ethereum network. The fees for using the Ethereum network would be reduced with the proposed upgrade.
More Robust Shiba Inu Economy With ‘Eternity’
When Shibarium is added to the game, it may lead to a more stable Shiba Inu economy with cheaper transaction costs. Investors’ morale might improve as a result of this as well.
There may be less selling pressure on SHIB now that the blockchain version of the game and Shibarium have been officially announced for release.
The meme coin may already be experiencing this. Positive investor mood and purchasing pressure appear to be supporting a price range of $0.00001230 to $0.00001270.
The likes of coincodex and nomics, among other analytical tools, also forecast significantly higher prices. SHIB’s future may be healthy despite the current negative and volatile market.
The industry of crypto gaming is just getting started now. The very strong purchasing pressure and investor sentiments can either be made or broken by this initial push into a relatively young sub-industry in gaming.
SHIB total market cap at $6.8 billion on the daily chart | Source: TradingView.com Featured image from Techno Pixel, chart from TradingView.com