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- Shiba Inu showed a significant jump of 25% in just 24 hours.
- Meme-token successfully surpassed Avalanche (AVAX) in ranking.
On August 15th, 2022, Shiba Inu (SHIB) witnessed a significant growth that brought hope within the crypto community as hope for an end to the ongoing bear market. SHIB price surged upto 25% just in a day. The instance of meme-coin price rise became talk of the town instantly given its timing. Border crypto market is still facing a dilemma while Shiba Inu jumped over the threshold.
For the past several days, several instances have been taking place in the background. The crypto community cites these instances as reasons behind shooting up the canine-crypto price. Announcement of the Shiba Inu inspired game dubbed as Shiba Eternity is most prominent among other reasons.
Earlier this month, one of the lead influencers within the Shiba Inu community, Shytoshi Kusama announced the game. Since then Shibarmy has released several early details regarding the online game. Reports said that developers released the game in Vietnam for testing and community members were uploading the clips showcasing themselves playing the Shiba Inu-focused game.
According to Kusama, Shiba Eternity would be more of a card-based online battle game. More specifically, it would be similar to other blockchain based games like the famous Axie Infinity. However, the game is said to be available first on mobile and then eventually it will be released on blockchain.
The buzz around the Shiba Eternity game across the community could be a potential reason for Shiba Inu price growth, but many analysts do not agree with this. Several analysts think the rise of Ethereum as the prominent reason behind SHIB’ price rise.
Given the fact that the whole Shiba Inu ecosystem, including native token SHIB to related coins BONE and LEASH, is also based on the Ethereum network. So, this also makes sense that growth of Ethereum (ETH) could be reflected in SHIB’s price.
However, despite the instant growth in Shiba Inu price, experts put warnings against the crypto asset. Given the volatile nature of meme-coin, it is tough for anyone to predict where it could lead further. Currently at the time of writing, SHIB is trading at $0.00001614, with a 2.27% growth in the last 24 hours.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
