The meme-coin Shiba Inu seems to be doing well in the market after a slight stumble that occurred recently. This fall cost the meme around 17% of its value in less than 24 hours. However, the coin is currently in a recovery phase with gains that exceed 6% following the fall. On top of that, the dip helped some of the Ethereum whales to increase their SHIB holdings by 100 billion tokens. After such a busy couple of days, Shiba Inu came with another surprise announcement, its venture into the fashion and luxury market.
Shiba Inu’s leading face Shytoshi Kusama announced the new venture into the fashion space with John Richmond. The partnership with this leading designer surfaces as the season of fashion is going on full throttle. Coincidentally or not, Shiba Inu released this news on the last day of Italy’s fashion week and just a week before the beginning of Paris fashion week.
Earlier this year, the Dogecoin killer was considered a good investment by many in the crypto space for the portfolio in 2022. The project has been dropping in several additions and improvements like the DAO1, Shibarium and Shibverse ever since the beginning of the year. Moreover, the community-based burning projects are also expected to fall significantly in the future. This thoroughly researched Shiba Inu price prediction says that the coin could reach $0.000057 by the end of 2022 with a certain 200% profit.
Along with these projects, Shiba Inu will now be participating in the business of the upcoming Fashion events, ramp-walks, and pageants through the recent partnership with John Richmond. As per the reports, the collaboration will design and release a collection of 10,000 NFTs based on the designs of the fashion house. Although we are not sure of the launch, it is likely to be launched in popular events like fashion weeks from Paris and Milan. The latest moves by Shiba Inu seem to answer the questions regarding its use cases and utility that ensued as the coin fell to the bottoms last December.
The meme-coin has also been trying to adapt itself to the mainstream payment environment. Earlier this year, AMC entertainment added both Dogecoin and Shiba Inu as a mode of payment for select items. CEO Adam Aron announced that the SHIB payments to AMC are to be powered by the crypto payment processor BitPay. The coin is set to be accepted for payment on the desktop site from March 19 onwards. However, the mobile platform would launch SHIB only by mid-April. By and large, this self-proclaimed Dogecoin killer is on the right track to achieve its goal, as many believe.
