Shiba Inu Teams Up with Unity Nodes: Will It Ignite SHIB’s Price?

TLDR

• Shiba Inu has partnered with Unity Nodes to bring real-world utility to the ecosystem.
• Users can purchase Nodes with SHIB, earn rewards, and acquire SHIB-branded NFT licenses.
• The Shiba Inu community has reacted positively, calling the partnership a potential game-changer.
• Despite the partnership, SHIB’s price continues to decline and is currently down 8% over the past month.
• Shiba Inu’s layer-2 blockchain, Shibarium, has seen a significant drop in daily transactions.

Shiba Inu (SHIB) has faced a steady decline over recent months, with its price now well below previous levels. Despite the downturn, the Shiba Inu team remains active and has recently announced an important new integration. The announcement revealed a partnership with Unity Nodes to bring “real-world utility” to the meme coin.

Shiba Inu Partners with Unity Nodes for New Utility

Shiba Inu has officially teamed up with Unity Nodes to enhance its ecosystem. Users will now be able to purchase Nodes using SHIB, unlocking new earning potential. In addition, SHIB holders can acquire SHIB-branded NFT licenses and earn rewards.

Unity Nodes operates a blockchain-based mobile edge network. The platform, available for iOS and Android, enables users to send and receive verified data, including rewards and balances. The partnership aims to demonstrate how cryptocurrencies can integrate with global industries like telecommunications.

The Shiba Inu community, also known as the SHIB Army, has responded positively to the news. Many members have labeled the collaboration as a “game-changer” for the ecosystem. Some even believe that the new Nodes feature could provide the “next rocket fuel” for Shiba Inu’s growth.

SHIB Price Decline Persists Despite Positive News

Despite the excitement surrounding the partnership with Unity Nodes, Shiba Inu’s price remains in decline. As of November 12, SHIB is trading at approximately $0.000009883, reflecting an 8% decrease over the past month. The integration has not yet sparked a significant price increase.

The Shiba Inu community has long hoped for new developments to revive the token’s price. However, several factors suggest that SHIB may continue its downward trend. One of the main concerns is the declining activity on Shiba Inu’s layer-2 blockchain, Shibarium.

Shibarium, once seen as a key element for growth, is now processing far fewer transactions. Daily transactions have dropped to just a few thousand, compared to the millions seen earlier in the year. This decline in activity raises questions about the network’s future prospects.

Shiba Inu’s Burn Rate Offers a Glimmer of Hope

Despite the ongoing price decline, Shiba Inu’s burn rate has increased considerably. Over the past week, more than 824 million SHIB tokens have been burned. This marks a massive 2,600% increase compared to the previous week.

The burning mechanism aims to reduce the overall supply of SHIB tokens, which could drive up the price if demand remains stable or increases. The community’s ongoing efforts to burn tokens could provide some hope for SHIB holders in the future. However, it remains unclear if this will be enough to reverse the current trend.

The increased burn rate, while promising, has yet to result in a significant price recovery for SHIB. With the ongoing challenges on Shibarium and the rising exchange netflows, the short-term outlook for Shiba Inu remains uncertain.

The post Shiba Inu Teams Up with Unity Nodes: Will It Ignite SHIB’s Price? appeared first on CoinCentral.