The Shiba Inu (SHIB) has been moving downwards in line with its rivals in recent weeks. However, recent developments in the Shiba ecosystem have led to the prospect of a potential rally.
What do technical indicators say about the Shiba Inu?
Currently, the Shiba Inu is trading at $0.00001102. Its price was stable compared to the last 24 hours and last week. SHIB dynamics point to some weakened techniques. For example, all moving average (MA) indicators are trading below the 10-day MA of $0.000012 in particular. The negative moving average convergence divergence (MACD) of the SHIB also indicates a sell signal.
An RSI of 50.11 for SHIB indicates that investors continue to be overbought. This is due to nothing but the launch of the new game in October.
Here are the developments that will move SHIB price this week
A major source of momentum is the mobile game Shiba Eternity, developed by Shiba Inu and PlaySide Studios. According to reports, the game was on the top 20 apps list on the Apple App Store on the day it was first released. Shiba Eternity is a free card strategy game. It is also part of the SHIB incineration strategy. In-game transactions are subject to token burns, which helps reduce the circulating supply of SHIB. So Shiba Eternity isn’t just important as a game. It will also passively support the community’s SHIB burning efforts.
Could the Shiba Eternity game be the most complex CCG ever launched?
10,000 Shiboshi Heroes. 500 Collectible Cards. 87 Card Traits. 21 Special Bark Powers. 21 Card Keywords. 11 Passive Powers. Rich & Deep Lore! = INFINITE POSSIBILITIES
See you on the battlefield! #OCT622 pic.twitter.com/amY1Jl83O4
— Shib (@Shibtoken) October 5, 2022
With 10,000 downloads reported on its first day, Shiba Eternity is showing impressive momentum. The continued adoption should further encourage the game and be well reflected in the price of the SHIB.
Here’s all about the global launch of Shiba Eternity
Shiba Inu (SHIB) has announced the global release of the Shiba Eternity game. Its developers are working to create real-world benefits as highlighted in their roadmap. The new launch therefore represents an important milestone for the SHIB community. The newly launched Shiba Eternity is the latest addition to the list of achievements for the Shiba Inu community.
One of the main reasons it was highly anticipated was that the game represented a new avenue for real-world utility. Meanwhile, the meme is a major focus for the Shiba Inu as the token continues to diverge from its origins.
The time has come to cross paws in the Dogjo. #ShibaEternity is now live worldwide on Android and iOS. Download it now from the official links below!
Apple App Store: https://t.co/oHxUnMQlNK
Google Play: https://t.co/sbpsu9e7CH#DownloadDay #SHIB #SHIBARMY #CCG #CardGame pic.twitter.com/4i53qobvla
— Shib (@Shibtoken) October 6, 2022
In addition, SHIB will be integrated into the game. Another reason the Shiba Eternity is eagerly awaited is that the Shiba Inu will contribute to the burning of supply. Shytoshi Kusama, one of the leading developers of Shiba Inu, had previously confirmed in a tweet that the game will feature coin burning mechanisms. cryptocoin.comIn this article, we have covered what you need to know about Shiba Eternity.
