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CryptoXTimes > Article > News > Shiba Inu’s Shibarium Game Nears Completion
NewsShiba Inu News

Shiba Inu’s Shibarium Game Nears Completion

Shiba Inu game nears completion as MicroStrategy buys 11,931 Bitcoins.

Aima Raza
Last updated: June 21, 2024 5:40 pm
Aima Raza 11 months ago
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Shiba Inu's Shibarium Game Nears Completion

MicroStrategy bought 11,931 Bitcoins on June 20 on the X platform, for an average price of $65,883 each. This was worth $786 million. Michael Saylor stated this on the X platform. After this buy, the company now has a total of 226,331 BTC in Bitcoin, making it the most significant Bitcoin holder among businesses. 

MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON

— Michael Saylor⚡️ (@saylor) June 20, 2024

MicroStrategy recently sold debt to pay for the purchase. This came after the company finished selling $800 million in convertible notes. Even though the purchase was significant, it did not have much of an effect on the market because most people knew it was going to happen after the company raised the price of its debt last week.

Shiba Inu Project Insights

Lucie, who is in charge of marketing for the Shiba Inu project, recently wrote on X about the new Shibarium game and quoted Shytoshi Kusama, who is in charge of the Shiba Inu project. Kusama said that the game, which is in its final stages of development at the moment, will only be available on Shibarium to the Shiba Inu autonomous team. Later, decentralized features may be added to the mobile form. 

Kusama thinks that the game will make the SHIB, LEASH, and BONE tokens more valuable. The funds that are made from in-app sales will also be used to encourage SHIB and LEASH burns.

The XRP and ADA communities can look forward to encouraging news in a new study from Santiment. The Santiment data team says that traders are shorting these altcoins in large numbers after their prices have recently gone up. People see this trend of shorting as a good sign for possible bullish moves because it can push prices up even more. 

📈 Cardano and XRP are a couple of the most notable altcoins that are seeing heavy trader shorting following relief bounces. This is a good sign for patient bulls, as liquidates shorts can effectively act as 'rocket fuel' for continued price rises. pic.twitter.com/lHdMCLbngR

— Santiment (@santimentfeed) June 19, 2024

At the moment, XRP is trading at $0.4838 and ADA is trading at $0.3797. They are ranked seventh and tenth on CoinMarketCap’s list of the top ten cryptocurrencies, with market caps of $26.89 billion and $13.55 billion, respectively.

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TAGGED: Bitcoin, MicroStrategy, Shiba inu, Shibarium
By Aima Raza
As a practicing lawyer who focuses on issues related to crypto and blockchain, Aima gives our content a unique legal viewpoint. Because she is so good at navigating the constantly changing regulatory environment, our readers always know about the latest regulations and happenings in the crypto world.
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