Investing.com – Last week, the Shiba Eternity trading card game was launched. Thanks to its built-in combustion mechanism, it helps to reduce in circulation.
From the outset, it was decided that five percent of the sales made with the game would be used for incineration of the token. After the launch for iOS and Android, the burn rate soared 1000 percent in the meantime. It should be noted that this is a volatile indicator. The road may therefore be still long before reaching the ultimate goal of a price of 0.01 dollar on .
Within the ranks of the Shib army, dissatisfaction has also been felt, as it is suspected that too much energy from the developers has been devoted to this “child’s play” instead of moving the Shibarium forward. Lead developer Shytoshi Kusama has defended his move, as aside from the combustion mechanic, much of the revenue generated will be spent on projects that will build on the Shibarium.
Besides funding, Shiba Eternity also has another important use for the Shibarium, as Kusama pointed out. Developers will be able to use Shiba Enternity to test the Shibarium Layer 2 solution.
This statement raised hopes that Shibarium is already available as a test version. However, this was not enough to give a positive impetus to the course.
Shiba Inu: technical benchmarks
The Shiba Inu is currently losing -1.63% at a price of $0.00001089, while the weekly loss is -2.19%.
The cryptocurrency failed to hold above the 61.8% Fibo retracement at $0.00001124. A test of the psychological threshold of $0.00001000 therefore seems imminent. If this support is broken at the daily close, expect a test of the 78.6% Fibo retracement of $0.00000944.
Only if the bulls manage to reclaim the 61.8% Fibo retracement sustainably will a rally towards the 50% Fibo retracement of $0.00001251 be possible.
By Marco Oehrl