Despite losing a bit of altitude these days, Shiba Inu has made an exciting announcement for the metaverse. However, the SHIB burn rate dropped drastically. On the other hand, the meme coin is back in the top 10 holdings of Ethereum whales. Keep reading us for more…
An announcement from the Shiba Inu Metaverse that excited its community
The Shiba Inu metaverse has made an exciting announcement. In the announcement, he invited the community to a Ryo Plaza fireside chat scheduled for December 8. It also announced that it will give one lucky participant one free SHIB: The Metaverse Silver Fur Land.
Come chill with the Metaverse Team this Thursday at 5pm PST / 8pm EST for our Ryo Plaza community fireside chat! Maybe more?
We will be giving away one free SHIB: The Metaverse Silver Fur Land to one lucky participant, so we hope to see you there!https://t.co/GfPyoivBB7
— SHIB The Metaverse (@ShibTheMV) December 6, 2022
Based on location, the land parcels that appeared in the intro phase of SHIB: Metaverse were divided into four tiers. Tier 1 is Diamond Teeth, consisting of 2,024 lots. Layers 2 and 3 are Platinum Paw and Gold Tail, consisting of 5,714 and 7,356 plots, respectively. The largest land allocation is in Tier 4, which is Silver Fur and consists of 17,030 parcels. Currently, one Silver Fur land is worth 0.2 ETH.
In July, Shiba Inu announced its historic partnership with world-class visualization studio The Third Floor (TTF) for the design and construction of SHIB.io The Metaverse Project. As the TTF and metaverse advisor, as well as SHIB developers, get to work, HUB concepts will be unveiled, making community feedback highly imperative. The team announced that it will hold fireside chats on Discord between Hub concept disclosures to gather as much feedback as possible and learn about the thoughts and desires of the community.
SHIB Metaverse continues to gain traction
According to OpenSea statistics, the current number of owners of the SHIB metaverse is 5,762. Also, 29% of them are unique owners. So far, concept art for natural dunes, growing dunes, Canyon, Rocket Pond, Wagmi Temple, and Tech Trench has emerged. SHIB metaverse consultant Marcie Jastrow represents SHIB at the Immerse Global Summit, participating in discussions that will advance the SHIB metaverse as well as the Shib ecosystem.
Shiba Inu’s burn rate decreased by 80%
The burn rate of the popular meme-coin has dropped drastically. Experts consider such a drastic drop as a negative factor, especially during a bleeding crypto market. However, there is a solution to this. Shiba Inu’s burning mechanism does not work like Ethereum’s. Rather than automatically burning a portion of the transaction fee on the network, SHIB has three private addresses where users voluntarily send money and remove tokens from circulation.
Technically, there is no burning mechanism in the network. The funds go to wallets that no one can ever access. But enough to slow the asset’s inflation. Strong increases in burn volume are driven by individuals or companies that have committed to burning a certain amount of tokens. The lack of burn volume indicates that firms are experiencing a decline in SHIB revenue or have no spare tokens to burn.
Is it possible for the situation to change?
The only way to burn more is to increase the revenues of companies that commit to using the portion of SHIB tokens they get from the sale of goods or services. Some users may want to use SHIB as a means of payment that should help the network accumulate more volume to burn. Unfortunately, burning small batches of tokens does not provide enough value to impact the price of SHIB. cryptocoin.com As you follow, SHIB has lost more than 40% of its value since October. Meanwhile, the last two months have been among the worst for the token. However, the recovery in burning is likely to draw the attention of investors back to SHIB.
Shiba Inu returns to top 10 holdings of whales
Data from Etherscan shows two surprising SHIB transfers in the last 20 hours. It also reveals that there are around 800 billion tokens in total in whale wallets. Meanwhile, SHIB re-entered the top 10 cryptocurrencies list. So, SHIB seems to have managed to attract the top 100 Ethereum whales.
According to whale watching service WhaleStats, the status of the top 100 wallets on the Shiba Inu and Ethereum Blockchain has changed radically in the past 24 hours. For the past three days, SHIB hasn’t even made it to the top 20 assets owned by these whales. However, today it is back in the top fifth place after Ethereum, USDT, USDC and stETH. Currently, these biggest whales in ETH hold $70,346,254 tokens. That’s the equivalent of a whopping 7,730,357,582,417 SHIBs.
