Following Ripple’s [XRP] initial success in its legal dispute with the U.S. Securities and Exchange Commission (SEC) on July 13, the cost of Shiba Inu [SHIB] increased by about 5% the following day.
The last month has been difficult for SHIB as its value has kept on falling. Yet, recent events will almost certainly result in a price increase.
On July 13, the on-chain analytics platform Lookonchain tweeted that a potential SHIB investor who owned 10% of the token’s supply had just shifted their holdings valued at $30 million to 8 wallets.
SHIB’s price may increase shortly as interest for SHIB, the second-largest meme-coin after Dogecoin [DOGE], increases.
Shiba Inu is looking into possibilities in the Metaverse as well. The phrase “Metaverse” describes a virtual environment or a shared virtual space made possible by technology for computers and occupied by avatars or other fictional beings.