Will Shiba Inu’s ‘Shiba Eternity’ game help SHIB ascend
In the early hours of 2 August, developers behind the popular meme cryptocurrency Shiba Inu [SHIB] unveiled the name of its long-awaited CCG game.
According to the announcement, the game will be called “Shiba Eternity” and will be made available to players on the Apple app store and Google play store. However, with continued investors’ apathy, it is unclear whether this new game can help revive interest in the ailing SHIB token.
Currently trading at its October 2021 level, SHIB, the project’s native token, has been on a price decline for over nine months.
Dwindling interest in the native token has deepened despite the plethora of projects within the Shiba Inu ecosystem. For example, since the launch of its Shib Metaverse, SHIB has lost over 90% of its value.
With a steady decline in price since the beginning of the year, how did the token fare in the first half of the year?
Shiba Inu started the year at an index price of $0.000033. In the first 180 days of the year, the price of the meme token declined by 69%. By 30 June, one SHIB token exchanged hands at $0.00001.
In H1 (first half of a calendar year) 2022, as the price plummeted, trading activity for SHIB also declined. After a trading volume high of 4.79 billion on 7 February, trading activity for the token dropped significantly.
SHIB closed H1 with an 85% decline in trading volume since the high of 7 February.
Also, in the 6-month period, SHIB’s market capitalization dropped from $18 billion to $5 billion.
Source: Santiment
On 30 March, the developers behind the Shiba Inu launched the Shib: The Metaverse, its virtual reality project. Unfortunately, with the launch of the metaverse and the sale of virtual plots of land failing to ignite investors’ interest, the meme token
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