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Some sections of the cryptocurrency community thought Shiba Inu’s (SHIB) efforts to explore the Metaverse were a joke when they became public. How can a meme toke with no apparent purpose claim that the Metaverse was one of its goals? The recent SHIB bulletin indicated that there was no halting it, therefore the doubts might not be eliminated.
Early on September 3rd, SHIB declared that it had made a daring move toward the mission. SHIB announced on its official blog that the “We’re All Gonna Make It” (WAGMI) Temple project was progressing. An idea for the Temple was put out after the release.
Examining the project’s specifics, SHIB’s communiqué showed that it considered a number of architectural styles from six different locales. Early sketches revealed that SHIB had designated Beijing, New Delhi, Japan, Hawaii, South Africa, and Myanmar as the inspiration-seeking locales.
SHIB stated that the decision to approve the proposal rests with its community. At the time of publication, the majority of the ShibArmy appeared to agree on their responses. The SHIB price, however, has not rallied as a result of the announcement.
Despite a spike in volume to $305.37 million, SHIB had decreased 0.17% during the previous 24 hours.It followed a similar pattern, with a burn rate that was 47.19% lower and 69,087,091 SHIB tokens burned overall during the same time frame.
So, the question is if all that is happening fits with the WAGMI tag? The road may not be clear just now. One positive to note was SHIB’s continued dominance among Ethereum (ETH) whales’ holdings.
In addition, because the initiative is still in its early phases, it may be too soon to determine its ultimate impact.
Santiment further claims that the measures in the SHIB ecosystem have been a little contradictory.The number of active addresses for the past 24 hours fell to 4939, and the daily circulation fell to 1.9 trillion.
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.
