Shiba Inu (SHIB) is preparing to launch “SHIB: The Metaverse,” a virtual space that could enhance its appeal and usefulness.
They recently revealed that over 100,000 virtual lands will be available in the Metaverse, which offers users the ability to build and monetize within its digital ecosystem.
With enthusiasm growing, many are wondering if this move could push SHIB closer to the $1 mark.
In the meantime, Pluto Chain ($PLUTO) could turn heads as a burgeoning project.
This layer 2 solution could bring smart contracts and decentralized applications to the Bitcoin blockchain, which could enable new possibilities for the global crypto leader.
Let’s check the details.
Technical Data Analysis Reveals – Can Shiba Inu Hit $1 With Metaverse Launch?
Shiba Inu (SHIB) has released major new developments that could influence its future trajectory.
The launch of “SHIB: The Metaverse” introduces over 100,000 virtual lands, where users can monetize them in a digital space.
Shytoshi Kusama, the lead developer of SHIB, announced plans to create a 44-episode podcast series in 2025to discover SHIB’s technological advances and future projects.
This virtual world could impact the usage and appeal of the token, leading many to wonder if it could drive the price up to $1, which has long been a goal for Shiba users Inu.
Although SHIB has been gaining momentum, reaching $1 would still be a huge challenge.
Currently, SHIB is trading at around $0.00002106, with a slight decline of around 0.04% over the past day.
The next resistance level (a price level that SHIB would struggle to surpass) lies around $0.0000222.
If SHIB manages to break above this threshold, it could open the door for an increase towards $0.0000233. On the other hand, if the price falls below $0.0000207, it might struggle to stay above its current levels.
Analysts have varied opinions on SHIB’s future price movements.
Experts at Changelly expect a potential increase to $0.0000377 by December 31, 2024, representing an increase of 70.98%.
A recent tweet from the user @frienndShib shared Fibonacci-based price targets for Shiba Inu (SHIB). According to the post, SHIB’s short-term target is set at $0.00003265, while the long-term target could reach $0.00004349.
Is PlutoChain the solution for smart contracts on Bitcoin? Here’s how this new layer 2 project works
Pluto Chain ($PLUTO) is deploying a layer 2 solution that could improve the Bitcoin blockchain by potentially making it compatible with smart contracts and decentralized applications (dApps).
Bitcoin’s slower 10-minute block time has always been a barrier to supporting these advanced features, which is why faster blockchains like Ethereum and Solana have gained popularity.
Pluto Chain could change that, offering transaction speeds as fast as 2 seconds on its L2 chain.
This would open the door for developers to leverage Bitcoin’s robust, decentralized network to create new applications, potentially expanding Bitcoin’s reach and role in the blockchain world.
Pluto Chain is packed with features that could truly change the way Bitcoin works. Its testnet already handles over 43,200 transactions per day, showing that it is scalable and ready for real use.
One of the platform’s main strengths is its community governance model, which allows users to vote on updates to the protocol. This ensures that the network remains decentralized and consistent with what the community wants.
Pluto Chain has also built trust by passing audits of well-known firms like SolidProof, QuillAuditsAnd Ensuring DeFi.
Additionally, its compatibility with the Ethereum Virtual Machine (EVM) could connect Bitcoin’s security to Ethereum’s flexibility, which could open the door to new projects in the DeFi, NFT, and AI fields.
Final Thoughts
While the launch of the Shiba Inu Metaverse may attract attention, other projects might be more interesting to watch in the coming months.
By introducing a layer 2 solution for Bitcoin, Pluto Chain could bring smart contracts and decentralized applications to the larger blockchain.
Although Bitcoin is renowned for its security, this innovation could address its speed limitations, potentially opening up new possibilities for scalability and functionality.
This article does not constitute financial advice. Past results are no guarantee of future returns and the crypto market is inherently unpredictable. Readers should conduct their own thorough research before purchasing any crypto coin or token. These forward-looking statements are subject to risks and may remain unchanged.
This is a sponsored post. The opinions expressed are solely those of the sponsor and readers should conduct due diligence before taking any action based on the information presented in this article.