It seems that the popular meme coin Shiba Inu (which is the second biggest one in terms of market capitalization after Dogecoin) has again become a trend on the social media giant bought by Elon Musk this October.
Twitter user, member of the SHIB community has shared that currently SHIB is trending with around 18,000 tweets related to it one way or another.
Here's what’s going on in SHIB ecosystem now
Currently, there are two things that the SHIB army is looking forward to. That is the Shiba Inu Metaverse, which is being developed by the SHIB team in collaboration with The Third Floor visualization studio.
The second is the layer two protocol for Shiba Inu called Shibarium, which the lead developer Shytoshy Kusama is working on with the rest of the team. However, there is no even approximate release date for Shibarium that has been announced by the developers yet.
As for the Metaverse, the dev team has unveiled several new crucial hubs that will allow SHIB Metaverse users to enjoy a better and deeper experience of interacting with this virtual world. These hubs were revealed mainly in the form of concept arts. Those include Dunes, WAGMI Temple, Canyon, Rocket Pond, etc.
SHIB market action under current sell-off
SHIB has been trending despite the sell-off in the crypto market that began earlier this week, when the Fed Reserve announced it would raise the interest rate again, this time it would be a smaller raise of 50 basis points.
Still, the crypto market began going down with Bitcoin rolling back below $17,000 and Ethereum dropping under $1,200. Shiba Inu is now exchanging hands at $0.00000813 after a large 9-percent drop faced today.