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Shiba Inu Sees 36% Adoption Rate Jump, $1M-$10M Transactions Surge 150%

Albert Brown
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Shiba Inu Sees 36% Adoption Rate Jump, $1M-$10M Transactions Surge 150%

Data from the analytic platform IntoTheBlock reveals that Shiba Inu’s adoption rate rose 36% from July 18, while whale SHIB transactions surged 150%.

Shiba Inu (SHIB) has recently experienced notable shifts in adoption rates and transaction volumes despite price volatility and a weekly pullback. 

According to data from IntoTheBlock, the new adoption rate for Shiba Inu saw considerable volatility between July 18 and July 25. On July 18, the rate stood at approximately 33%, but it surged to 36.16% by July 25.

Meanwhile, the adoption rate fluctuated during the period, notably declining around July 20 before stabilizing towards the end.

Shiba Inu adoption rate 335
Shiba Inu adoption rate 33.5%

The 30-day average new adoption rate is recorded at 33.56%, with a peak of 40.12% on June 28 and a trough of 17.40% on June 30. This data also suggests that while there is a rising trend in new adoption, it does not immediately impact SHIB’s price. 

The lack of a strong correlation between short-term adoption rate changes and price suggests that long-term adoption trends and activity might be more influential on price movements.

Significant Rise in Large Transactions

In tandem with the adoption rate, transaction sizes have shown a notable increase. Notably, according to a separate analysis by IntoTheBlock, Shiba Inu transactions in the range of $1 million to $10 million have surged by 150% over the past 30 days. 

Other categories also experienced changes, such as meager valued transactions of belo2 $10, increasing by at least 26%

Shib large transactions 150
Shib large transactions 150%

Conversely, transactions in the $100k to $1 million range declined 47.37%. Ultimately, the marked increase in large transactions may positively indicate confidence among larger investors.

What’s Behind Shiba Inu’s Positive Feat?

It is important to note that events surrounding the SHIB token often attract attention, increasing curiosity and engagement from potential new users.

For instance, on July 18, during a tumultuous period when an Indian exchange was hacked and resulted in the theft of over 5 trillion SHIB tokens, SHIB’s burn surged. Specifically, at the time, the burn rate improved by 4,822%, with 44,302,985 tokens being burned within 24 hours.

Additionally, the Shiba Inu team has been teasing developments week after week. The latest development is Shiba Eternity, a well-known digital card game poised for a major evolution with its Web3 integration. 

BRETT Bull Cycle Eyes 55% Growth as Meme Coins Begin Recovery

Albert Brown
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BRETT Bull Cycle Eyes 55% Growth as Meme Coins Begin Recovery

Starting a bullish cycle within a triangle pattern, BRETT teases a breakout rally as the meme coins gain traction. With an engulfing candle in the making, will BRETT make a new all-time high soon?

With a 10% intraday jump, BRETT is among the top-performing meme coins in the last 24 hours. The price jump creates a morning star pattern to signal a bull cycle and undermines the 10% drop in the previous 48 hours.

Forming a symmetrical triangle pattern in the daily chart, the overall BRETT trend faces volatility contraction. As the ongoing recovery teases a bullish conclusion to the triangle pattern, the buyers anticipate a 40% jump ahead. 

BRETT Ends The Bearish Streak With 10% Jump

In the daily chart, the BRETT price trend finds support at the $0.10 psychological mark to start the ongoing recovery. However, the buyers failed to surpass the overhead trendline, resulting in a four-day price fall to the support trendline at $0.12. 

BYBIT:BRETTUSDT Chart Image by Trojan69420

Kickstarting the bull cycle, the intraday jump forms a bullish engulfing candle and completes a morning star pattern. Approaching the overhead trendline, the refreshed bull run pushes BRETT towards the bottleneck portion. 

Retracing the pullback phase with the trend-based Fibonacci levels, BRETT heads to the 23.60% Fibonacci level. Further, the daily RSI line shows a similar uptrend in motion, close to the halfway line, teasing a crossover with an uptick. 

Michael’s Bullish View Supports BRETT’s Breakout Rally

Supporting the bull run, the recent tweet from Michael Van De Poppe bolsters the bull run chances in BRETT.

 

Due to the increased trading volume and growing volatility in memecoins, Michael says it’s suitable for quick moves. As per Michael, BRETT gives an excellent buying opportunity in the zone of $0.125-0.1325 for an upmove to $0.170. 

In the 4H chart, the recent reversal from the support trendline leads to an uptick in the MACD and signal lines, generating a bullish crossover. Further, the ongoing recovery surpasses the 23.60% Fib level, traced in the 4H timeframe.

BYBIT:BRETTUSDT Chart Image by Trojan69420

Currently, BRETT trades at $0.13157, with an ongoing streak of bullish candles in the shorter timeframe.

Will BRETT’s Triangle Break Hit $0.20?

The intraday jump crosses above the 50D EMA and challenges the 20D EMA as it approaches the overhead trendline. Further, with increased volumes and the broader market recovery, the meme coin will likely give a bullish breakout. 

As per the Fibonacci levels, the breakout rally in BRETT can scale up to the 61.80% Fib level at the $0.20 mark, potentially reaching $0.25.

Ethereum Price Rebounds 6% as Donald Trump to Speak at Bitcoin Conference

Mark Brennan
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Ethereum Price Rebounds 6% as Donald Trump to Speak at Bitcoin Conference

Ethereum price reached $67,432 on July, up 6% for the day as bull traders place bet worth $1.38 billion ahead of Trump’s speech at Bitcoin Conference this weekend.  ETH price looks set to record more upside amid the ongoing market shakeup.

Ethereum Price Pumps 6% on Trump Speech Speculations

ETH price entered a worrying 13.45% downtrend mid-week amid a sell-the-news wave that greeted the spot Ethereum ETFs launch on Tuesday, June 23. However, the sector sentiment flipped bullish on Friday, July 26, as markets began to react to Donald Trump’s confirmed appearance at an upcoming Bitcoin Conference in the USA.

Ethereum Price Action Ahead of Trump's Speech in Nashville, July 26, 2024 | TradingView
Ethereum Price Action Ahead of Trump’s Speech in Nashville, July 26, 2024 | TradingView

On July 25, 2024, the “Bitcoin 2024” conference kicked off in Nashville. This annual Ethereum event has been held since 2013 and has garnered a global following over the years.

This year, high-profile speakers confirmed to appear at the event include Republican Presidential candidate Donald Trump, MicroStrategy’s Michael Saylor, Cathie Wood of Ark Invest, Robert F. Kennedy Jr, Russell Brand, Edward Snowden, and a host of others.

Political discussions such as taxation, regulation, and adoption of cryptocurrency products across the US have dominated the discourse for this year’s edition.

Notably, Republican Candidate Donald Trump is scheduled to speak at the event. While he has claimed multiple times to be a crypto-friendly President, many crypto enthusiasts are speculating that Trump could announce the decision to champion the addition of Bitcoin to the USA’s official strategic treasury reserve.

This would see the US government invest directly in Bitcoin and hold BTC in its balance sheet perpetually, as currently observed in countries like El Salvador and Central African Republic (CAR).

Ethereum Traders Mount LONG Positions ahead of Bitcoin Conference

In a bid to front-run gains from this optimistic speculation, ETH futures traders have mounted an unusually heavy volume of LONG positions.

Indicating this, the Coinglass chart below presents the total value of ETH LONG contracts compared to active SHORT positions listed around the 20% boundaries of the current prices. This provides clear insights into investors’ short-term sentiments.

Higher LONG positions often mean that investors are confident in an imminent price surge and are deploying more leverage to maximize profits on those potential gains.

Ethereum LONG vs SHORT Positions, July 24 | Coinglass Liquidation Map
Ethereum LONG vs SHORT Positions, July 24 | Coinglass Liquidation Map

In total, Ethereum derivatives traders currently have about $2 billion locked in speculative perpetual futures contracts within the $2,918 to $3,570 price boundaries.

Glaringly, these contracts are heavily skewed bullish, with $1.38 billion in LONG contracts mounted against $600 million worth of SHORT positions.

Donald Trump is scheduled to speak at the ‘Bitcoin Nashville’ conference in less than 24 hours from the time of publication. These heavily skewed futures contracts clearly indicate that traders are anticipating a major Ethereum price breakout on the back of the conference.

Media buzz generated by the in the last 24 hours has already powered ETH into a 6% rally toward $3,245 at the time of writing. Many expect that a major pronouncement from Donald Trump, such as the speculated addition of BTC to the USA’s treasury, could spark a major buying frenzy.

Considering the level of leverage currently applied, there’s a chance that such a major pronouncement could propel ETH to new all-time highs above $5,000 if the bullish scenario plays out.

Ripple Says XRP Powered Payment Platform Expanded to 80+ Countries

Abdulkarim Abdulwahab
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Ripple Says XRP Powered Payment Platform Expanded to 80+ Countries

Ripple has disclosed that its payment platform, which leverages XRP for cross-border transactions, has expanded into 80 markets and countries.

The company shared this update in its latest publication, which explored why crypto liquidity is essential in today’s financial landscape. Notable XRP community figure Chad Steingraber highlighted the development in a recent post on X.

In the report, Ripple highlights its vision of a world where cross-border money transfers are as easy as sending an email. Blockchain technology is making this a reality, with liquidity fulfillment at its core. 

Crypto liquidity enables the effortless trading of digital assets without disrupting market prices. Ripple stressed the significance of crypto liquidity in facilitating seamless, cost-effective, and dependable transactions. 

The company pointed out that while traditional financial systems have made strides in enhancing the speed of cross-border payments, they still lack transparency. This lack of transparency leaves users in the dark about their money’s status, especially during off-peak hours and holidays.

Meanwhile, Ripple noted that despite the rapid growth of the crypto market, it still pales compared to the massive global FX market. This disparity presents a unique challenge that demands innovative solutions.

Ripple Payments Expanded to 80+ Markets

In this context, Ripple disclosed that it has significantly boosted its liquidity capacity by expanding its network to over 80 payout markets. This enhancement aims to provide a fast, affordable, and seamless experience for cross-border payments.

Notably, in Q4 2023, when Ripple unveiled the Ripple Payments service, a replacement for the popular XRP-based ODL software, the firm noted that the solution covered over 70 markets. Now, nearly a year later, the payout markets are above 80.

Ripple aims to facilitate fast settlements at the lowest possible cost and deliver an exceptional cross-border payment experience for its customers and partners. A crucial aspect is ensuring that liquidity is always available to meet demand, even outside banking hours.

Ripple Liquidity Efforts Paying Out  

Meanwhile, crypto-based payments rely on sufficient liquidity, which can be volatile due to exchange, trading pair, and time-of-day factors. Macroeconomic events, like the COVID-19 pandemic, can also impact liquidity, causing market shifts, regulatory changes, and price fluctuations. This underscores the need for robust liquidity management.

Ripple noted that it is approaching liquidity availability by expanding its network and leveraging AI and machine learning to optimize transactions.

In parallel, the company boasts that its liquidity efforts are achieving near 100% success rates with lower costs for cross-border fund transfers. Ultimately, Ripple stated it continuously invests in global liquidity capacity, broadening payout capabilities in over 80 countries. 

Bulls On HOLD as Shiba Inu Prepares for a 200% Rally 

Albert Brown
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Bulls On HOLD as Shiba Inu Prepares for a 200% Rally 

With a bull cycle underway, Shiba Inu trends in a falling channel, leading to a death cross event. Will the meme coin manage a reversal rally to surpass $0.000030?

Shiba Inu, the second biggest meme coin by market cap, has recently been trapped in a correction pattern. Trading at a discount of 63% from its 52W high at $0.00004567, the $SHIB selling spree continues. 

However, in the recent turn of events, Shiba Inu finds a breakout opportunity for a new 52W high. Will the meme coin manage to end the correction phase to unleash a high momentum breakout rally?

Triangle Holding Shiba Inu’s Fate Anticipate A Bull Cycle

In the weekly logarithmic chart, Shiba Inu develops two converging trendlines leading to a symmetrical triangle pattern. Moreover, the downfall in SHIB comes as a negative cycle to test the support trendline in a falling channel fashion. 

With a long-tail lower price rejection candle, the meme coin teases the start of a new bull cycle. However, the price action traders wait for the short-term resistance trendline breakout. 

Shiba Inu price Chart
Shiba Inu price Chart

As per the Fibonacci levels, SHIB sustaining above the 38.20% level increases the breakout chances. However, the long-coming support trendline could provide another bounce back opportunity.

The MACD and signal lines approach a potential bullish crossover slightly above the zero line. Thus, an underlying shift in the trend momentum is likely to end the correction spree.

Closer Look on the Daily Falling Channel 

In the daily chart, the recent reversal from the overhead trendline breaks under all the crucial EMAs (20, 50, 100, 200). Furthermore, the downfall leads to a death cross in the 50D and 200D EMAs, while the 100D EMA is ready for a bearish crossover. 

Shiba Inu price Chart
Shiba Inu price Chart

Currently, $SHIB trades at $0.00001687, with an intraday rise of 2.93%.  

Shiba Inu’s On-chain Metrics At Crossroads

As per IntoTheBlock, a leading on-chain metrics company, almost half of the SHIB HODLers (47%) are not making any profit. However, the underlying support in the community is visible, with 78% holding tokens for more than a year. 

Shiba Inu On-chain Metrics
Shiba Inu On-chain Metrics

Meanwhile, the presence of whales is crystal clear as large holders dominate 73% of concentration. 

Will $SHIB Break The Bearish Glass?

Bulls anticipate a positive cycle and are ready to challenge the overhead trendline in the triangle pattern. However, the falling channel breakout in the 1D chart will be the decisive signal before any massive surge.

As per the Fibonacci levels, the bull run will likely challenge the 52W high at $0.00004567. However, the resistances at $0.000029 and $0.000035 could hamper the bull run. 

Bitcoin Critic Peter Schiff Denounces Trump’s BTC Endorsement, Calls It Vote-Seeking

Albert Brown
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Bitcoin Critic Peter Schiff Denounces Trump’s BTC Endorsement, Calls It Vote-Seeking

Peter Schiff criticizes Donald Trump’s Bitcoin support as a vote-seeking strategy, sparking debate within the crypto community.

Long-time Bitcoin critic Peter Schiff has reignited controversy within the crypto community on X. This comes amid discussions at the highly publicized Bitcoin Conference, featuring key figures like Donald Trump, a candidate in the 2024 presidential election. 

Schiff’s latest remarks targeted Trump’s alleged support for Bitcoin, claiming it was a strategic move to garner votes and contributions from the crypto community. He asserted that Trump’s promises to make Bitcoin a reserve asset would remain unfulfilled.

It is important to note that in recent discussions, the idea of Bitcoin becoming a reserve asset for the U.S. government has gained traction, especially if Trump wins the presidency. 

Community Reacts

Schiff’s comments have sparked significant reactions among cryptocurrency community members, with some attributing his disdain for Bitcoin to his preference for gold. 

Additionally, this debate reflects broader market sentiments, with one commenter suggesting Schiff’s gold narrative is losing relevance.

Another voice in the discussion claimed Trump’s close ties with Blackrock’s Larry Fink indicate a strategic interest in utility crypto assets like XRP, which could enhance the USD’s strength through fast and secure payments.

A contrasting perspective highlighted the significant public interest in Bitcoin, evidenced by its suggestion as a reserve asset and its widespread ownership among Americans. 

Schiff Continues Criticism Amid Bitcoin Conference

Despite these comments, Peter Schiff continued his critique, targeting figures like Michael Saylor, CEO of MicroStrategy, for their advocacy of Bitcoin.

Schiff argued that Saylor’s push for Bitcoin adoption among CEOs has now shifted towards influencing Trump to add Bitcoin to the national balance sheet, a move Schiff condemns as reckless. 

Additionally, Schiff questioned the relevance of the Bitcoin Conference, noting its large attendance compared to smaller gold conferences. 

Additionally, his persistent focus on Bitcoin has led some to accuse him of inadvertently promoting the crypto.

Pathways and Challenges for Bitcoin Adoption

In a related but rather positive instance, Bryan Courchesne, founder and CEO of Digital Asset Investment Management (DAIM), discussed the potential of Bitcoin becoming a reserve asset for the U.S. government on CNBC’s ‘Fast Money’.

Courchesne explored the intricate steps and difficulties involved in such a shift in monetary policy. 

He noted that while the transition to Bitcoin as a reserve asset would be complex, the Department of Justice’s significant holdings of around 200,000 BTC could facilitate this process. 

Google Gemini, ChatGPT and Grok Predict Shiba Inu Price if Bitcoin Hits $500,000 as Predicted by Bloomberg

Sam Wisdom Raphael
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Google Gemini, ChatGPT and Grok Predict Shiba Inu Price if Bitcoin Hits $500,000 as Predicted by Bloomberg

Prominent AI chatbots Google Gemini, OpenAI’s ChatGPT and Grok from X, give varying price predictions for Shiba Inu if Bitcoin hits $500,000 as predicted by Bloomberg.

The leading business and market platform made this Bitcoin price prediction in a report last December. The prediction came up shortly after BTC crossed $42,000 in December 2023 after a period of sustained bearishness. Notably, Bitcoin had suffered bearish pressure throughout 2022 and 2023.

Bloomberg Sees Bitcoin at $500,000

As the market turned bullish, Bloomberg’s report cited encouraging projections and remarks from industry leaders. Amid the confidence, the report asserted that the upsurge last December marked the start of a super cycle that could take Bitcoin to $500,000.

Interestingly, such an increase would positively impact the broader market, with altcoins like Shiba Inu benefiting. This is due to the price correlation these altcoins have with Bitcoin. IntoTheBlock (ITB) confirms this close relationship. Data shows that SHIB has had an 87% price correlation with Bitcoin over the past 60 days.

Shiba Inu and Bitcoin Price Correlation IntoTheBlock
Shiba Inu and Bitcoin Price Correlation | IntoTheBlock

Google Gemini, ChatGPT and Grok Predict Shiba Inu Price

This shows that Shiba Inu has increased when Bitcoin rose and collapsed when BTC dropped. Consequently, a price rise to $500,000 for Bitcoin could potentially push SHIB to greater heights. We sought opinions from AI chatbots Google Gemini, ChatGPT and Grok on what Shiba Inu’s price could be.

For context, Bitcoin currently trades for $68,034, while Shiba Inu changes hands at $0.0000178. Google Gemini (previously Google Bard) stressed that a rise to $500,000 from Bitcoin’s current position would necessitate a 7.35x increase. Adding a proportionate growth rate for SHIB would push the meme coin to a new all-time high of $0.000130.

Google Gemini Shiba Inu Price Prediction
Google Gemini Shiba Inu Price Prediction

ChatGPT’s response takes a similar approach. According to the OpenAI chatbot, if Bitcoin hits $500,000, Shiba Inu could also record a proportionate increase due to their price correlation. ChatGPT sets SHIB’s potential price at $0.000135, also a new all-time high.

ChatGPT Shiba Inu Price Prediction
ChatGPT Shiba Inu Price Prediction

Meanwhile, Grok from Elon Musk’s X platform shares a view that slightly diverges from the rest. Grok assessed that Shiba Inu could rise by a mere 500% if Bitcoin reaches $500,000. Applying this growth rate, Grok sees SHIB hitting a price range of $0.0000495 to $0.0000990.

Grok Shiba Inu Price Prediction
Grok Shiba Inu Price Prediction

These responses confirm that Shiba Inu would react favorably to a Bitcoin surge to $500,000. However, these conditions remain purely hypothetical and should not be taken as investment advice. There is no guarantee that Bitcoin can reach $500,000 and it remains uncertain how SHIB would react if that happened.

Market Analysts Projects 2095% Upsurge for Cardano As Peak Price Target for This Bull Run

Sam Wisdom Raphael
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Market Analysts Projects 2095% Upsurge for Cardano As Peak Price Target for This Bull Run

Cardano could rally by 2,095% to its peak price target for this bull run, according to Altcoin Daily, the crypto market show run by analysts Aaron and Austin Arnold.

The official Altcoin Daily X account disclosed this while presenting projected peak price targets for different assets during this bull run. All the targets represent massive spikes from the current positions, but Cardano’s projected growth was one of the most ambitious.

According to the analysts, Cardano has the potential to surge to a lofty $9 price as its peak value for the ongoing bull run. Earlier this month, analyst Ray predicted ADA to reach $9. This price would mark a new all-time high for ADA, representing a 190% rise from the September 2021 peak of $3.1. 

Cardano’s Previous Bull Run

Moreover, the $9 price target represents a significant 2,063% increase from Cardano’s current price of $0.4170. While this upsurge might seem overly ambitious, it bears mentioning that ADA has recorded much greater rallies in the past.

For instance, before the previous bull run took shape, Cardano faced a downtrend, collapsing to a low of $0.0177 in March 2020. However, as buying pressure emerged, ADA rode on the market uptrend to reach the $3.1 ATH in September 2021. This marked a massive 17,414% increase in 17 months.

Cardano Price Upsurge
Cardano Price Upsurge

Notably, the projected 2,063% rally is over 8x less than Cardano’s upsurge in the previous bull run. However, ADA might face greater resistance during this bull market as a result of two factors. 

The first factor is its larger circulating supply now, currently at 35.899 billion tokens. At the current circulating supply, a $9 price would lead to a $323 billion market cap. Meanwhile, the second is a trend of altcoin dispersion, identified by analyst Miles Deutscher. This trend shifts capital to multiple other altcoins as the market faces saturation.

Cardano Records Similar Bullish Setup

Despite the potential roadblock, the Cardano monthly chart points to a pattern that could bolster ADA’s chances of a rally. During the previous cycle, Cardano broke out of a 25-month symmetrical triangle when it spiked to $0.09 in June 2020. After a few months of retesting the upper trendline, ADA eventually spiked to $3.1.

Riding on the pre-bull run rally, ADA initially spiked 167% from $0.25 in September 2023 to $0.64 in January 2024. This rally helped Cardano break out of a similar symmetrical triangle that has persisted since  September 2021. Now, ADA is retesting the upper trendline, reminiscent of the previous bull market’s pattern. 

Cardano Symmetrical Triangles
Cardano Symmetrical Triangles

Meanwhile, besides Cardano, Altcoin Daily also projected peaks for other assets. They expect Bitcoin (BTC) to hit $120,000, a mere 79% rise from current prices. In addition, they predict Ethereum (ETH) to rise 170% to $8,800. As for Solana (SOL) and XRP, Altcoin Daily set targets of $720 and $5, respectively marking rallies of 306% and 733%.

Shiba Inu Loses to Dogecoin, Pepe, and Dogwifhat in This Important Metric Despite Price Rebound

Lele Jima
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Shiba Inu Loses to Dogecoin, Pepe, and Dogwifhat in This Important Metric Despite Price Rebound

Leading dog-themed token Shiba Inu (SHIB) loses to memecoins like Dogecoin (DOGE), Pepe (PEPE), and Dogwifhat (WIF) in terms of daily trading volume. 

Shiba Inu has the lowest 24-hour volume among the top 4 memecoins by market cap.  According to data from CoinMarketCap, Shiba Inu’s 24-hour volume slumped 17.73% over the past 24 hours to $256,579,856 ($256.57 million). 

Conversely, Pepe saw the highest 24-hour trading volume in the memecoin category at $979,524,916 ($979.52 million). Despite ranking as the top memecoin with the most trading volume over the past day, the data still suggests that PEPE’s volume is down 12.76%. 

Additionally, Dogecoin saw the second-biggest daily volume among the top 4 largest memecoins by market cap. DOGE boasts a daily volume of $853,530,903 ($853.53 million), down 6.32% over the past day. Furthermore, Dogwifhat closely followed Dogecoin in the ranking, commanding a daily volume of $451,499,845 ($451.49 million), representing a 24-hour decline of 9.4%. 

SHIB loses to DOGE PEPE and WIF in trading activity
SHIB loses to DOGE PEPE and WIF in trading activity

Total Memecoin Daily Volume 

As of 07:22 AM (UTC) today, the memecoin market boasts a 24-hour volume of $4.57 billion. Given Shiba Inu’s volume of $256.57 million, SHIB accounts for 5.61% of the total memecoin volume recorded over the past 24 hours. 

Similarly, PEPE’s volume dominated the total memecoin’s daily volume by 21.43%, while DOGE and WIF represented 18.67% and 9.87%, respectively. it is noteworthy that a surging volume indicates a strong interest in the asset, and vice versa. 

SHIB and Other Memecoin Prices Rebound 

Meanwhile, the development comes at a time when the price of SHIB rebounded shortly after plunging below the $0.000016 threshold. Notably, SHIB plummeted to a 24-hour low of $0.00001587 in the late hours of yesterday. 

It did not take long before its price rebounded above the $0.000016 mark. At the time of writing, SHIB’s price was up 3.41% in the daily charts to $0.00001681. 

Similarly, the prices of the other top 4 memecoins in the memecoin category, including DOGE, PEPE, and WIF, have also rebounded within the ranges of 1.48% to 4.63% in the daily chart. 

While DOGE has staged a 4.63% increase in the past 24 hours, PEPE and WIF’s prices have soared 1.48% and 2.32%, respectively. 

The Sandbox Calls Shiba Inu Army to Secure Unique SHIB-Inspired Avatars

Abdulkarim Abdulwahab
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0
The Sandbox Calls Shiba Inu Army to Secure Unique SHIB-Inspired Avatars

Leading decentralized gaming platform The Sandbox has invited the Shiba Inu Army to an exciting offer of securing unique SHIB-inspired avatars.

In a recent post on X, The Sandbox extended an invitation to Shiba Inu enthusiasts to partake in the growing narrative around meme coins in its decentralized gaming ecosystem. Specifically, the platform urged the SHIB Army to leverage “RiseOfTheMemecoins” in The Sandbox to get distinct SHIB-based avatars.

How to Get Exclusive Shiba Inu Avatars in The Sandbox

To earn this offer, proponents only need to hold SHIB tokens and the platform’s native asset, “SAND,” in their wallet. Notably, the wallet must be connected to The Sandbox platform before Monday, July 29. On this day, the team plans to take a snapshot of qualified wallets.

Members of the Shiba Inu Army who are new to The Sandbox can create an account at the dedicated portal, “sandbox.game.”

This announcement has generated attention within the community of Shiba Inu enthusiasts. They recognized its significance and expressed delight at the opportunity.

Interestingly, KURO, a notable Shiba Inu community figure based in Japan, has even translated the announcement into Japanese. This effort ensures that local community members do not miss out on participating to receive a Sandbox avatar modeled after SHIB.

The Sandbox Leveraging Meme Coin Narrative

Notably, the latest announcement from The Sandbox is part of its effort to make its gaming platform more appealing by incorporating the unique cultures of various meme-inspired assets. 

Last week, The Sandbox excitedly announced that it is now a holder of the Shiba Inu token and other rival coins like BONK, Dogecoin, and PEPE. Accordingly, it revealed plans for integrating their unique cultures into its platform.

Moreover, The Sandbox acknowledged Shiba Inu’s humble beginnings in 2020 as a community-driven cryptocurrency project. Today, Shiba Inu has evolved into a global phenomenon, boasting a comprehensive ecosystem that includes tokens LEASH and BONE, as well as its native blockchain, Shibarium.

The Sandbox is a blockchain virtual world that empowers users to create, build, buy, and sell digital assets and own virtual land parcels. At its core, the platform fosters a play-to-earn model that enables users to take on dual roles as creators and players.

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