KEY POINTS

  • Shiba Inu tweeted that the Metaverse's name would be announced soon
  • Shib Army has expressed its support for the project
  • The Shiba Inu coin recovered by 5.5% after the Metaverse announcement

After the announcement of the Metaverse project by the developers of Shiba Inu Monday, the Shib Army is all excited. But, there was a tinge of anger at the seemingly uninspiring name, Shiberse, which the developers initially gave the project, and some concerns about the plunging value of the SHIB token.

#Shiberse and #SHIBARMY have been trending on Twitter for the past two days, with over 76K tweets.

The Shib Army made clear its unhappiness with the name "Shiberse" via tweets. 

In response to the pushback, the lead developer of Shiba Inu, Shytoshi Kusama, announced that the name of the Metaverse project was not finalized, and Shiberse was just a codename.

This same announcement was also made from Shiba Inu's official Twitter handle. They tweeted that the official name of the project would be announced in the next few days.

The Shib Army responded with tweets declaring their support for the project and how they all had high hopes for the Shiba Inu coin. Some also started speculating, and offering suggestions, on the eventual name of the Metaverse.

One common suggestion on social media from several fans was "Shibaverse", while another was "Shibverse." It is to be seen if the developers take the suggestions from the SHIB loyalists into account when finalizing the name of the Metaverse.

 

Shiba Inu is considered a meme coin by most experts, but the development team has rolled out a slew of initiatives to boost the token's value and increase its use cases. The token fell by over 32% in the week before the Metaverse announcement. It bounced back by a little over 5% after the Metaverse project was announced. 

The Shib Army continues to put its faith in the token and seems to be betting that the recent announcements by the Shiba Inu team — like the launch of their own blockchain network Shiberium and an official game — might help reverse the current price crash and strengthen the token.

One of their biggest concerns is the unlimited supply of the token and many SHIB fans have been demanding to burn a significant amount of tokens and cap the supply to ensure rarity.

Shiba Inu -crypto Shiba Inu token. Photo: Shiba Inu -Twitter