- Metaverse project announced by Shiba Inu’s team, the second largest meme coin by market cap.
- One of the team’s tokens, Doge Killer (LEASH), is now being used to buy virtual land for investors.
Shiba Inu Sets Course for Meme Coin
In the metaverse, meme coins have arrived. The creators of Ethereum-based Shiba Inu, which has a market cap of $18.4 billion and is the 13th largest cryptocurrency, have announced a new venture: a virtual land project.
This Metaverse sector will soon be led by Shiba Lands, as announced in a blog post by the developers on Tuesday. In the metaverse, virtual worlds are referred to as shared spaces where people can use 3D avatars to communicate.
Doge Killer (LEASH), another token created by the developer (or developers) behind Shiba Inu, is available to those who want to participate in the meme coin metaverse before it launches.
As stated in the blog post, “Overall, our focus is not only to disrupt the Metaverse industry but many industries in and outside of the crypto world.Our Metaverse serves as the foundation for our long-term, sustainable ecosystem because we are early, but most importantly, it is the anchor for our beloved ShibArmy — the best crypto community out there.
According to the blog post, those who hold Doge Killer tokens will be given priority access to the Shiba Inu metaverse. When the virtual land goes on sale, they can buy it with LEASH tokens. The price of Doge Killer has risen by 48 percent in the last 24 hours, trading at $1,750, according to CoinMarketCap data. Token price for Shiba Inu (SHIB) is up 10.75% to $0.00000353.
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An internet joke or meme is used as a basis for a “meme coin” (or “meme token”), which is a cryptocurrency. Many of them exist, and their value fluctuates more than other cryptocurrencies such as Bitcoin and Ethereum because of the abundance of them.
Shiba Inu, the biggest meme coin in terms of market cap, shot to fame last year when it debuted on the crypto scene to compete with Dogecoin. Some argue that Shiba Inu and Dogecoin are worthless, while others argue that the coins can and should be used to make payments.
In recent years, the value of both meme coins has skyrocketed thanks to the efforts of internet communities and celebrities like Elon Musk, who have promoted them online (and make some early investors very rich.)