Shiba Inu’s valuation has dropped by more than 44% in the month of November. However, optimism is seldom in shortage in the community. A major announcement was recently made public, one which has once again grabbed the attention of the community.
With the crypto’s price falling under $0.00004, the meme token’s latest development was rather interesting in terms of outlaying its long-term presence in the crypto-industry.
Shiba Inu cuddling into the heart of gaming?
Shytoshi Kusama, a popular Shiba Inu proponent, announced on Medium that the development team has entered a partnership with William David Volk to design and develop a Shiba-backed video game. Volk is a pioneer in the gaming industry. The developer is former VP of Technology at Activision Studios and he is co-responsible for iWack, the first-ever iPhone game launched.
Additionally, Volk also brings 36 years of experience with him. Needless to say, that is top brass being added to potential game development.
The Medium post mentioned that the game will initially not be blockchain-based. The blockchain version will be built on it, using Shiba Inu’s decentralized network. Now, this is where it gets interesting.
Kusama went on to mention that the long-term objective of the blockchain game would be to incorporate Shiba Inu in the metaverse universe. In addition to that, the Team Lead mentioned that their approach will be radically different from Facebook’s.
A success story in the making?
Shiba Inu is pulling a rabbit out of its hat at every step of its development. It has a Decentralized Exchange, is used by some platforms as a payment token, and now, is welcoming an eventual switch to being accessible in the Metaverse and the blockchain gaming industry.
The lucrative nature of blockchain gaming has been widely covered already in 2021. In fact, according to DappRadar, more than 1.4 million Unique Address Wallets log into blockchain games on a day-to-day basis. That level of activity might be soon witnessed on Metaverse chains and the valuation rise of MANA, ENJ tokens are a prime example.
With the kind of popularity Shiba Inu has behind its token, it is difficult to root against its success. However, it might still have a long way to go.
Github repository truth and the eventual bearish market
At press time, Shiba Inu had fewer active repositories than any other major project. It is borderline embarrassing as the website only highlights 157. In comparison, fellow meme coin DOGE has over 1400 and Bitcoin has 52000. It is fair to state then that the development side of things is still pretty thin.
Now, psychologically, Shiba Inu has also risen due to an aggressive positive sentiment. This sentiment is largely based on the collective bullish nature of Bitcoin, Ethereum in 2021. Shiba Inu, regardless of a positive community, will possibly not rally if there is a liquidity exit from the likes of BTC, ETH, and other top assets.
If the bear market settles in, investors may not even wait that long for Metaverse proficiency. Speculators can bet their house that functionality will not be immediately feasible for Shiba Inu in virtual reality.
Shiba Inu may have chewed more than it can swallow. But, let’s be honest, we have seen stranger things in this industry. Hence, who knows, Shiba Inu might actually pull it off in 2022.