Shiba Inu Community Launches Revolutionary NFT
The Shiba Inu crypto community has made a significant achievement with the launch of its highly anticipated NFT, SHEboshi. This ERC-404 token standard has garnered global attention and aims to introduce new features to the Shiba Inu ecosystem while revolutionizing Shibarium. Existing Shiboshi holders are already benefiting from this launch, as the community merges ERC-20 and ERC-721 standards to bring liquidity and fractional ownership to the NFT space. This venture is boosting market optimism for the SHIB token.
SHEboshi: A Game-Changer
The minting process for SHEboshi will take place on the Ethereum network, aligning with its experimental nature. The project is available on both Shibaswap and Uniswap, paving the way for future success. Eligible Shiboshi holders have received SHEboshis, each worth around 0.14 ETH, and LEASH holders are next in line to benefit. After the claiming period concludes, the public sale for SHEboshi will begin, allowing everyone to participate in this revolutionary measure.
Shiba Inu Price Declines
Despite the groundbreaking launch of SHEboshi, the Shiba Inu coin is currently experiencing volatility in trading. As of now, its price has dropped by 0.76% over the past 24 hours and is trading at $0.000009696. Derivatives data shows a decrease in open interest but an increase in volume, indicating a potential consolidatory phase ahead.
Hot Take: SHIB Set for Recovery?
An analysis suggests that SHIB is poised for a notable recovery due to its increasing burn rate and rising daily transactions on Shibarium. Although the meme coin’s price currently shows a weakening bullish momentum below the $0.00001 psychological level, the recent developments within its community are expected to boost prices soon. Crypto market enthusiasts anticipate a positive trend for SHIB in the near future.
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