Shiba Inu Coming Out With New Physical Studio, Will SHIB Price Rise?
How is SHIB going? | Credit: Shutterstock
- SHIB army has constructed a new physical studio, it has been announced
- Shiba Inu’s (SHIB) network growth has decreased by more than 100% this week.
- After 90% of SHIBs ended up in the red, holders are hoping that the price will increase
Lead creator of Shiba Inu (SHIB), Shytoshi Kusama, took to Twitter, which sparked a lot of excitement among the community, especially when his cryptic post emerged to be a new physical studio.
Kusama’s most recent tweet hinted at a much-anticipated tangible item linked to the Shiba Inu, causing Shib Army members to wonder what it might be.
SHIB is Getting Physical Studio
The creator merely remarked, “Something physical is coming,” in his tweet, which sent the community into a frenzy of anticipation. With little over 200K views, the tweet received tremendous engagement very fast.
However, very quickly, there was an explanation by Lucie, a Shiba Inu marketing professional, who previously wrote a preview before Kusama’s tweet.
It seems that the SHIBARMY just created a new physical studio:
Following Kusama’s tweet, the community speculated what it could be. There were a number of forecasts, such as plush toys, John Richmond attire, and hardware wallets. These recommendations are consistent with recent changes in the Shiba Inu ecosystem.
John Richmond, a well-known English fashion designer with a shop in Italy, has also developed a line of accessories just for SHIB holders. One of Richmond’s most recent initiatives included the introduction of distinctive hoodies as well.
Following Kusama’s travel to Japan last month, there has been significant conjecture about his quiet and covert efforts to create something remarkable within the SHIB environment and it seems the studio is exactly what the SHIB Army has been looking for.
The excitement around this physical release highlights the community’s belief in the enormous potential of the Shiba Inu project.
In addition to the guessing game, the conversations also included some negative statements. Some people used the chance to criticize the network and its creators and voice their displeasure with the meme coin’s constant price. Nevertheless, The community held out hope that introducing this “physical product” would result in a rise in the coin’s value. At the time of publication, SHIB was down 4.04% on a daily basis, trading at $0.000006535.
Shibarium’s Objective
The most anticipated project in the Shiba Inu community is still Shibarium, but how will this forthcoming ecosystem expansion affect the price of SHIB?
The Shiba Inu community is getting increasingly excited as the launch of the Shibarium mainnet approaches. Investors are curious about how the layer-2 network will influence SHIB’s price movement as they wait for the impending expansion of the Shiba Inu ecosystem.
It is important to stress that Shibarium’s main goal is not to artificially raise the price of Shiba Inu. Instead, by solving important issues, including lowering costs, accelerating transaction times, and increasing utility, the initiative seeks to improve the SHIB ecosystem. These enhancements are anticipated to raise demand for Shiba Inu, which could ultimately result in a price increase.
Shibarium aims to resolve the issue of the large circulating supply of SHIB. SHIB tokens will be burned by the L2 network using up to 70% of base fees on each transaction. These actions may result in a price increase by decreasing the supply of SHIB and maybe boosting the demand.
SHIB Solving Ethereum Issues
In his recent post , co-founder of Ethereum, Vitalik Buterin, identified three requirements for Ethereum’s survival. In order to keep its position at the forefront of blockchain technology, Ethereum must make sure that these functionalities are available, and make the switch to roll-ups (layer-2), Smart contract wallets, and privacy-oriented safeguards.
Shytoshi Kusama immediately made fun of the Woofpaper v2 on his verified Twitter account by contrasting and contrasting its specifics with Buterin’s post.
Shiba Inu already had plans in place to address these issues, as seen by Kusama’s response to Buterin’s piece. The planned layer-2 network for Shiba Inu, called Shibarium, is the solution that is most widely awaited.
Shibarium’s distinctive features seem to have solved the scalability issues that existed with Ethereum. For layer-1 blockchains like Ethereum, the Layer-2 network might serve as a second layer, offloading some of the strain.
Strong SHIB supporters suggested that Shytoshi Kusama might be alluding to early versions of the Woofpaper v3. The new SHIB studio might gather the brain trust that will make sure the issues are completely solved.
Shiba Inu Soared On News of Robinhood Delisting Other Cryptos
Recently, Robinhood announced that on June 27, 2023, it would stop supporting Cardano (ADA), Solana (SOL), and Polygon (MATIC).
Shiba Inu (SHIB) appeared unaffected by this delisting decision, though. The site made it clear that other cryptocurrencies on its platform, such as SHIB and Dogecoin (DOGE), will not be impacted by the delisting decision.
An astounding 211,140,844 SHIB tokens have been burned after this announcement, representing a huge rise in burn rate of 3874.12%. This increase in burn rate usually points to a planned reduction in the supply of SHIB tokens, which could boost their rarity and worth.
According to the CoinMarketCap , at the time of writing, SHIB price was down by 4.06% to $0.0000066.
