Shiba Inu powered the world’s first fast-food NFT for burger joint Welly on its network. Phase one went live on June 9, 2022, and the mint has started. Analysts remain bearish on Shiba Inu price recovery.
Shiba Inu’s “Eat Wellys” NFT collection is designed by @chico_rata. The collection features 10,000 NFTs, each with different attributes and combinations. A total of 140 attributes, normal, rare and unique, are distributed among the NFTs, and the minting will take place in different stages.
Phase one of the mint started on June 9, 2022, at 8:00 PM UTC and over a twelve-hour period, LEASH and Shiboshi holders minted Welly NFTs, even if holdings were locked in staking. In the last twelve hours of the phase, BONE and Shiba Inu holders have exclusively been invited to mint the fast-food NFTs. Phase two starts at the end of phase one, and phase three will be a public sale.
The NFT project is special as it is the first collection directly linked to a real-world business, the Welly food joint, powered by Shiba Inu. The collection is available for sale on OpenSea, a peer-to-peer marketplace.
MINT NOW pic.twitter.com/UQxLvWZWXn
Despite the launch of the unique NFT collection and the upcoming upgrades in Shiba Inu, analysts have a bearish outlook on Shiba Inu. Shiba Inu price could fail to recover from its recent slump.
FXStreet analysts evaluated the Shiba Inu price trend and predicted a 20% price drop in the meme coin. Analysts believe Shiba Inu price has confirmed the descending triangle pattern, a bearish indicator and the meme coin could witness a 20% decline in its price. For more information, watch this video:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
XRP is set to possibly print a new low by or over the weekend as another batch of dollar strength roils markets and makes every risk asset slip to the downside. With cryptocurrencies in the forefront of these headwinds, interest and buying power could wind down, opening room for bears to go in for the kill and possibly trigger new lows for 2022, erasing the small incurred gains from May and June in the process. Expect to see bulls squashed like flies against the wall and finally squeezed out of their positions around $0.37 before price drops like a stone some 18% towards $0.30.
The creator of Cardano has announced changes in IOHK’s plans for the Vasil hard fork in response to the LUNA crash. Hoskinson told ADA's community that the de-peg and decline of Terraform Lab’s sister tokens LUNC (previously known as LUNA) and TerraUSD (UST) have prompted developers to be more careful in implementing future upgrades.
Shiba's burn rate has plummeted 70.7% overnight, over half of the meme coin’s supply is under circulation. Shiba Inu coin price hit its lowest level in eight months, seeing a rise in selling pressure across exchanges. On-chain activity in SHIB coin has dropped 94% since November 2021, alongside shrinking social dominance.
A brief technical and on-chain analysis on Ethereum price. Here, FXStreet's analysts evaluate where ETH could be heading next.
BTC is at a point in its journey through the bear market where investors are split into camps that are expecting a relief rally, a continuation of the crash and a full-blown bull rally. Interestingly, none of the aforementioned theses is wrong per se.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.