Will Shiba Inu Spike Ahead of Metaverse Premier, Shibarium Launch?

• SHIB The Metaverse’s “WAGMI Temple” opens for preview at SXSW 2023 on March 11.
• At press time, SHIB traded at $0.000011, after a 1.72% decline in the last 24h.

Shiba Inu ecosystem continues to sustain its trending spot in the crypto sector. The memecoin’s fandom, ShibArmy, is locked with the anticipation of significant upgrades – SHIB The Metaverse’s preview, and Shibarium beta launch date’s reveal through its sequential blog release. 

Currently, SHIB: The Metaverse’s premier at the VR/AR exhibition at the renowned SXSW 2023 conference holds the major anticipation of enthusiasts. During the exhibition on March 11, SHIB’s metaverse team will assist users to experience the Metaverse’s Zen-like virtual realms, called the WAGMI Temple’s HUBs. 

While exploring the WAGMI Temple HUBs in the Metaverse, the team will highlight the chronological history of the Shiba Inu (SHIB) token. Along with this, users will be crucially tutored on digital wallet connection and purchasing metaverse land.

On February 26, the team officially released a blog with the Shibarium intake form. As reported by its co-founder Shytoshi via tweet, numerous projects submitted requests to build on the L2 blockchain Shibarium. Till now, the team has not confirmed the beta launch date.

Effects of Anticipation on Shiba Inu’s Price

Notably, the so-called Doge killer‘s expansion is expected to surge better in March when compared to February. According to statistics on SHIB’s price, the memecoin registered its 90-day-high of nearly $0.00001562 in the first week of February. Comparatively, it witnessed a 29.5% price drop since then. At press time, as per CoinMarketCap data, SHIB trades at $0.000011.

As per the above chart, since the moving average (MA) of Shiba Inu lies above the ongoing price movement, SHIB’s trend is confirmed as bullish. Markedly, its memecoin’s average directional index (ADX) is at 20.27. Therefore, it interprets that the current bearish trend of SHIB is weak. Also, the relative strength index (RSI) of SHIB is at the level of 35.79, indicating the asset’s oversold conditions. 

Moreover, the SHIB ecosystem’s gas token, BONE, recorded prominent exchange listings – Bitget, Crypto.com, and Gate.io – in February.

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