SHIB price forecast after announcement of TREAT token and SHI stablecoin

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Shiba Inu SHIB/USD is a meme-coin that took heavy inspiration from Dogecoin DOGE/USD.

However, over time, the Shiba Inu cryptocurrency saw a tremendous level of growth both in terms of its value, as well as its listings, utility, and ecosystem development.

We might soon see the introduction of the TREAT and SHI cryptocurrencies.

The update by Shytoshi Kusama as a catalyst for growth

Through an official update by Shytoshi Kusama posted on July 6, 2022, we saw an announcement regarding the TREAT cryptocurrency.

The TREAT cryptocurrency is set to be used as a reward for users of ShibaSwap. However, it will also have an additional level of utility and a role within the Shiba Inu metaverse, as well as the Shiba Inu game that’s under development.

Specifically, the DAO voted to halt ShibaSwap’s BONE rewards and instead gave this to Shibarium, which opened a gap for ShibaSwap reward, one meant to get filled by the TREAT cryptocurrency.

However, that isn’t everything mentioned in the update. Specifically, following the de-peg of the TerraUSD (UST) algorithmic stablecoin,  Shiba Inu’s lead developer also noted that the project is cautious regarding the development of its stablecoin known as SHI.

The Shiba Inu team has chosen to carefully develop the stablecoin to avoid a repeat of the collapse of the Terra ecosystem.

Should you buy Shiba Inu (SHIB)?

On July 6, 2022, Shiba Inu (SHIB) had a value of $0.00001043.

shib usd 9

The all-time high of the Shiba Inu (SHIB) cryptocurrency was on October 28, 2021, when the token reached a value of $0.00008616.

When we go over its performance throughout the previous month, Shiba Inu (SHIB) saw its lowest point of value on June 18 at $0.000007262.

Its highest value point, however, was on June 26 at $0.00001193.

Here we can see an increase in value of $0.000004668 or by 64%.

Since then, the token has decreased by 12%. However, this makes it a solid point in time to buy the cryptocurrency, as with hype surrounding these new cryptocurrencies, SHIB can reach a value of $0.00002 by the end of July 2022.

The post SHIB price forecast after announcement of TREAT token and SHI stablecoin appeared first on Invezz.

from Market Analysis – Invezz

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