Shiba Inu coin — a cryptocurrency based on the Shiba Inu dog meme — is creating its own metaverse called the Shiberse.
- Yes, this is one of the weirdest sentences I’ve ever written.
The news: The official Shib coin Twitter account tweeted the announcement Monday, saying that there will be a new, immersive space for Shiba fans.
- “As promised, we are so excited to announce our first special surprise for the year #ShibArmy!
- “In 2022, we are reaching new heights and welcoming the #Shiberse . An immersive experience for our ecosystem and the Metaverse space!
- “We can’t wait to show you more. Woof!”
Why it matters: “This announcement has excited the Shiba Inu community and brought a ray of hope amid the market downturn. Social media is flooding with posts about the latest SHIB update and how the upcoming metaverse will change the fortunes of the tokens,” according to MARCA.
As promised, we are so excited to announce our first special surprise for the year #ShibArmy!— Shib (@Shibtoken) January 24, 2022
In 2022, we are reaching new heights and welcoming the #Shiberse 🌎. An immersive experience for our ecosystem and the Metaverse space!
We can't wait to show you more. Woof! 🐶 pic.twitter.com/tCRQ1m1RiT
State of the market: The overall cryptocurrency market saw a $130 billion drop in value in a 24-hour period. Big crypto tokens such as bitcoins and ether saw massive drops.
- Both meme-based cryptocurrency coins Shiba Inu coin and Dogecoin saw a big drop, too, from the crash.
- “A widespread selloff in cryptocurrencies saw the most speculative tokens lose significant ground, as risk-averse attitudes pushed investors away from meme assets,” Bloomberg reports.
Yes, but: Shiba Inu coin rallied a little bit after the drop, jumping 40% from its lows seen earlier in January.