Shiba Inu: Does its new metaverse has helped rise its price?

If it comes to talk about Shiba Inu, from experts to new players in the world of cryptocurrencies wonder if the metaverse of this digital token, Shiberse, arrives to be just another fad or if it will consolidate not only to compete with other similar projects, in addition to whether it will make the price of this memecoin.

Some investors have predicted that this new metaverse will allow Shiba Inu to have a growth similar to the one it has experienced in the last two years, especially in 2021, when it had a brutal growth of 43,800,000%, not to mention that it already lost 74% of its value since its historical peak in October 2021.

But other knowledgeable voices in the cryptocurrency world question the real impact of the metaverse for the benefit of the meme currency and to what extent this digital token is worth buying at this point.

What will the Shiba Inu metaverse provide?

While digital behemoths like Facebook, Instagram and WhatsApp are betting on metaverses of virtual worlds with Meta Platforms, where occupants exist as avatars of themselves, it’s a mammoth effort that requires the support of different industry players.

Shiberse is the metaverse of the Shiba Inu meme currency, which will be a meeting point for owners of this digital token, with games and could include virtual land and non-fungible tokens (NFTs).

However, this digital universe will not only accept this token, although if that were to change and it becomes a space that only works with Shiba Inu, that would expand the options for using the digital currency, which is currently only accepted by 648 businesses.

Future risks for Shiba Inu

In addition, soon cryptocurrencies could soon face issues such as cryptocurrency brokers having to report their customers’ transactions to the Internal Revenue Service (IRS), and a tax bill would not be as easy for a Shiba Inu owner to face as it would be for those who have purchased other coins such as Bitcoin or Ethereum.

Even expecting Shiba Inu, which is currently worth $0.000024, to return to a 43,800,000% increase in price would mean it would reach a price of $10.07 per token, unrealistic when compared to the $84.7 trillion in global gross domestic product (GDP) in 2020.

We cannot forget that other coins such as Bitgert (BRISE) and Centcex are considered among the next big phenomena in the cryptocurrency world, so betting on Shiba Inu and its metaverse looks more like a risky whim than a coherent investment.