Investing.com – The share price fell. has fallen in recent days, just like the rest of the cryptocurrencies. Tweets from founder Shytoshi Kusama haven’t changed that, despite promising an update on an important project.
For many months, the developers have been working on Shiba Eternity, the first blockchain-related game. This one seems to contain a mechanism that reduces the tokens in circulation, which should make them increase in value:
“There will be token burning during gameplay. As soon as the blockchain version is released, more details will follow as to why #ShibaEternity is powerful, empowering, and awesome for shib, shiboshi, and shibarium holders. …”.
Already last year, the founder and main developer hinted that all newly developed platforms have an automatic mechanism to burn tokens.
The official launch of Shiba Eternity should not delay any longer, since a test phase was already launched last week in Australia.
Shiba Inu Technical Course Marks
The has already broken below the support of the 61.8% Fibo retracement of $0.00001124 on Sunday. Today’s closing price below this important level signals to expect further losses and a test of the psychological mark of $0.00001000.
This support is reinforced by the 78.6% Fibo retracement at $0.00000944.
Only if the bulls manage to reclaim the 61.8% Fibo retracement can a rally towards the 50% Fibo retracement at $0.00001251 be initiated.
By Marco Oehrl