Shiba Inu rolling out four major projects: Will this lead to an increase in Shiba Inu’s price?

Cryptocurrency Shiba Inu is planning to enter the network of virtual worlds, Metaverse. The digital coin’s creators in a blog have detailed about “SHIB: THE METAVERSE” under which all tokens $SHIB, $LEASH, $BONE will play a role as phases roll out.

As per the blog, Shiba Inu’s Metaverse is positioned to become a massive environment for the #ShibArmy to grow, share, and benefit together.

“This new portal will be up and running in the next coming days, and for users to begin the process of locking their assets. Once this process is completed, the event should begin shortly after. This is officially your last call previous to the first phase and events engaging with the community,” the blog said.

In recent updates shared by Shiba Inu developer Shytoshi Kusama, SHIB: The Metaverse lands might become available ”really soon.” Shibarium, Shiba Inu’s Layer 2 solution, has been under development for quite some time. However, one of the developers, @kaaldhairya, stated that the Layer 2 solution is moving to the next phase of development.

As reported by U.Today, Shibarium, the Layer 2 on which SHIB: The Metaverse will be developed is reportedly in the Alpha phase and might soon be shifting into the Beta phase. Apart from that, the Shiba Inu dev provided insight into other developments.

Shiba Inu had announced earlier this year that it’s all set to launch its own in-built ‘burn portal’. The platform will burn SHIB tokens daily and remove them from circulation. The development will increase its demand and create scarcity in the market paving way for sustainable price growth. The development might raise demand and create scarcity in the market, setting the pace for long-term price growth.

Growth Breed member Archangel gave updates on its progress and confirmed that the burn portal is in its final stages. “I know there’s a lot of asking for burns. We’re in the final stages of building a burn portal.”

The recently unveiled SHIB: The Metaverse will consist of 100,595 plots of land. Each plot allows becoming part of the immersive Shiba-inspired environment. However, some lands will remain locked as they represent key locations for travel within the metaverse and stay private to be used as common grounds. These will represent roads (corridors): Avenues, Boulevards, and Hubs, while public ones will be available for purchase.

SHIB trades at $0.00002614 and is ranked the 15th largest cryptocurrency by market capitalization per CoinMarketCap data. However, with all the upcoming projects and Shib Metaverse, it can be expected that the price of Shiba Inu might surge.