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Shiba Inu: calm before the storm or is the hype over?



Hardly any other cryptocurrency has attracted as much attention in recent months as Shiba Inu (SHIB). The memetoken was even able to reach eighth place among the most valuable cryptocurrencies through an unbelievable rally. Subsequently, however, a strong correction set in, since then SHIB has lost more than 50 percent of its value. Is the hype finally over or is the meme currency returning?

Shiba's entry into the NFT sector

Shiba Inu (SHIB) has partnered with game creator and former Vice President of Technology at Activision, William David Volk, to advise on its non-fungible game (NFT) game.

Originally called Oshiverse, the game will be the latest addition to the SHIB ecosystem. Shytoshi Kusama, the project leader for the decentralized meme currency, gave further details on Nov. 26 in an  article  on Medium entitled "The future of gaming is Shib."

Additionally, Shytoshi stated that Shiba Inu had partnered with an AAA gaming company to develop an NFT game that would most likely use the Shiboshi NFTs. Due to an existing nondisclosure agreement, he could not disclose whose studio it was.

Will that turn things around?

Shiba Inu Coin is currently trading at around $ 0.00004. This puts the price around 55 percent below the previous all-time high of $ 0.000088. In the past few weeks, it has seemed like the hype and media interest in Shiba Inu has decreased significantly.

According to data from CoinMarketCap, SHIB's trading volume in particular has fallen significantly in recent weeks. Coindesk reported that just a few weeks ago, Shiba Inu accounted for up to 25 percent of Coinbase's trading activities. In the meantime, the value has fallen to well below ten percent.

Of course, the correction of the entire market is also a decisive factor in the fact that Shiba Inu has also fallen in price. Therefore, investors are now hoping that the move into the gaming world could give the price another boost.

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