Shiba Inu announced the commencement of the public sale of lands on its Shiba Metaverse, what will happen?
Shiba Inu announced the public sale of properties on its Shiba Metaverse. This represents the third and final phase of SHIB: Sale of Metaverse Land, wherein anyone interested is allowed to purchase the remaining lands on the metaverse starting at 0.02 ETH without having to lock their LEASH.
Lands are available for everyone to purchase (no locking required)
🏝️Land prices starting at 0.2 ETH
🏝️MetaMask Wallet Required
— SHIB: The Metaverse (@ShibTheMV) April 23, 2022
Bidding and Holder events, the first two phases of the land sale project, are driven by LEASH and SHIBOSHI, as only holders of these tokens can bid and buy soil during these periods. With the start of the final phase, how have LEASH and SHIBOSHI performed in the past ten days?
During the first two phases of land sales, Shiba Inu recorded more than 3000 new landowners for 12,975 plots of land sold. Data from Etherscan also suggests that during the Bidding Event and the Holder Event, users spent 6280 ETH buying land.
Despite the significant real estate acquisitions taking place in Shiba Inu: The Metaverse, the price of the LEASH token has been on a downward trend during the said bidding and buying phase. During this period, the token has dropped more than 30% of its price as it drops from $1,425 and stands at $986.58 at this press time.
Although it is yet to be confirmed, according to the project promoters, the Self-Reported Circulating Supply for the token stands at 107,647 LEASH, with a self-reported market cap of over $106 million a year.
The RSI in the timeframe also suggests a bearish bias as it maintains its position below the 50 neutral levels. At this press time, the RSI for the token stands at 42.90. Similarly, the 50 EMA remains above the price during the Bid Event and the Holder Event. This is a sign of a downtrend.
SHIBOSHI holders can bid and buy land during the just concluded phases of the Metaverse Shiba Inu Land Sale Project. Following in the footsteps of LEASH, this token also recorded an 8% drop in its price from $0.0000002609 to $0.0000002382.
Additionally, according to the project promoters, the Self-Reported Circulating Supply for the token is 850,000,000,000 SHIBOSHI, with a self-reported market capitalization of $201,897.
Shiba Inu: The Metaverse Project is also plagued by scams like several other projects. As noted by a Shiba Inu developer in a blog post, he pointed out that:
“The scammers / clever marketers use programming to fool a lot of people of millions, sometimes more malicious code could drain your wallet on approval of the token, we see this every time, and it breaks our heart as we can’t do anything about it for them. So please do not ever REACT to such news in crypto always listen to official project channels for announcements to save your hard-earned money.”
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