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Shiba Inu Coin Ecosystem Expands To Create The ‘Dog Park’ – Here’s What It Means

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And no, it’s not an actual dog park in the metaverse.

Shiba Inu Coin’s project lead has announced the ‘Dog Park’ – a new expansion forming part of ‘ShibaSwap 2.0’ designed to legitimise third-party community products on the edge of the SHIB universe.

Shytoshi Kusama announced the Dog Park in their Medium post discussing CoinMarketCap’s Shiba circulating supply, and a potential Robinhood listing.

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Here’s what’s in the Dog Park.

Shiba Inu Dog Park

In recent months, SHIB has surged in popularity, hitting one million hodlers over the weekend. As a result, an increased number of scams and tokens have attempted to affiliate themselves with the Shiba ecosystem. Kusama hit out at the “tomfoolery” of those “claiming to be an official part of our ecosystem or others just claiming that I’ve spoken to them or work with them”.

The Dog Park will help Shiba give weight to “a token or business outside of our core, but still part of our larger ecosystem”.

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This will work with a redesigned and upgradedSniff Score. The ShibaSniff score previously gave ratings to tokens entering the Shiba ecosystem as a Woofable pair. It will now run from 0 to 100, with 100 being a perfect rating.

Core SHIB elements such as ShibaSwap and the upcoming Shibarium Layer-2 will make up the core ecosystem. Those running on top of Shibarium, for example, would form part of the Dog Park.

Kusama gave the examples of the SHIB Burner playlist, and Empress Princess Butterfly NFTs as projects that could play a part in the wider Dog Park.

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The SHIB ecosystem has dramatically expanded within the last six months, with the likes of the Shiboshi NFTs and ShibaSwap. Hodlers have asked the ShibArmy to stop calling Shiba Inu a memecoin because of its newfound utility.

At the time of writing, SHIB costs $0.00005277 – up 0.5% in the last 24 hours.

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SHIB Price Triumphs Toward New Milestones! Will Shiba Inu Flip Dormant ADA and XRP?

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Shiba Inu (SHIB) has achieved a new breakthrough by excelling beyond a 1 million user base although its price has been trading 50% below its ATH. The meme coin has managed to drag the attention of a larger user base amid raising FUDs over the new Covid strain and US inflation. However, an update of the breakthrough and generation of subsequent higher lows in the recent past stimulated community growth. 

SHIB Adoption Peaks!

Moreover, the SHIB token was recently listed on the Kraken exchange on high user demand, followed by which the token enjoyed significant gains. A surge in the excitement towards the asset has been prompting other popular exchanges to list the meme token. Interestingly, a popular Brazilian cryptocurrency exchange Mercado Bitcoin is all set to list SHIB on December 2nd, 2021. So, the meme coin now gets exposure to a larger user base. 

Owing to the recent developments, investors pile up their portfolios with a huge chunk of SHIB tokens. A reputed healthcare service provider Ask the Doctor has recently purchased approximately 31 billion SHIB worth $1.5 million USD. In addition, the institute would soon enable SHIB payments with their healthcare partners. 

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SHIB to Challenge Cardano and Ripple?

SHIB price has seen exponential growth since the start of the quarter with record-high gains. However, prime coins under the top 10 such as Cardano and Ripple have been depreciating in their market cap with nil volatility. In the recent rally, SHIB’s trading volume on the Binance exchange has surpassed Bitcoin’s trading volume. Hence, it would be no surprise, if ADA and XRP fail to find any momentum in the short term, then the meme coin would easily outstrip them. 

However, SHIB’s price has managed to break $0.00003849 followed by its listing on the Kraken exchange. Along with fundamentals, the altcoin holds a bullish technical perspective to chug up toward new highs. RSI is at 45.65 favoring a bull run to commence soon, hence it would again breach the resistance around $0.00004258. 

Collectively, traders are pleading SHIB to be listed on Robinhood. If speculations come into reality and altcoin manages to keep up the price momentum, then Shib would soon skyrocket to break old records. 

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Shiba Inu price edges closer to another 50% upswing

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  • Shiba Inu price has dropped 18% into a high probability reversal zone, hinting at a new leg-up.
  • Investors can expect SHIB to shatter intermediate resistance levels and tag the $0.0000625 resistance level.
  • A breakdown of the $0.0000362 support will invalidate the bullish thesis.

Shiba Inu price looks ready for a reversal as it enters a crucial support area that is likely to trigger a massive uptrend. This move has a high chance of occurrence as it allows sidelined buyers who missed the initial run-up to get in on the next leg-up.

Shiba Inu price prepares for liftoff

Shiba Inu price rose 50% in under two days as it triggered an upswing on November 28. This rally set up a swing high at $0.0000543 and has dropped 23% to where it currently trades – $0.0000422.

Interestingly, SHIB has entered the high probability reversal zone, extending from $0.0000400 to $0.0000431. This is an oversold area that is likely to trigger an inflow of buying pressure from investors that missed the initial spike in price.

Therefore, market participants can expect Shiba Inu price to reverse its downtrend soon. The resulting uptrend will take a jab at the range high at $0.0000543 and attempt to move higher. In this case, SHIB will revisit the $0.0000579 and $0.0000625 resistance barriers.

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In total, this run-up from $0.0000415 would indicate a 50% gain for Shiba Inu price. 

SHIB/USDT 4-hour chart

SHIB/USDT 4-hour chart

While things are looking gloomy at the moment, investors can expect a decent bounce from Shiba Inu price soon. A failure to do so could result in a breakdown of the 79% Fibonacci retracement level at $0.0000400 and a revisit of the range low at $0.0000362.

A daily close below this level will create a lower low and invalidate the bullish thesis. In such a case, Shiba Inu price could tag the $0.0000330 support level.

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Healthcare Company Adds Shiba Inu to Its Balance Sheet

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A Toronto-based healthcare company now holds Shiba Inu on its balance sheet.

Ask The Doctor, a Canadian online healthcare company, has added $1.5 million worth of Shiba Inu to its balance sheet, according to an announcement posted on its Twitter account.

Kraken facilitated the seven-figure buy. As reported by U.Today, Shiba Inu started trading on the San Francisco-based cryptocurrency exchange on Tuesday.

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The medical information website will also begin accepting the meme cryptocurrency with its healthcare partners within the next three days.

It already allows clients to pay with Dogecoin for certain services in the U.S. and Canada.   

The Toronto-based company was launched in 2010, allowing its clients to connect with medical professionals via text messages or video streaming. Notably, its list of co-founders includes former NBA player Israel Idonije and former NBA star Dikembe Mutombo.

In 2016, Ask The Doctor started accepting Bitcoin payments, becoming the first healthcare company around the globe to embrace crypto.

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The reason for adding the new payment option was to offer customers who share sensitive medical data more privacy.

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