Shiba Inu (SHIB) has experienced a significant decline over the past several months, with its price currently standing far below the levels observed towards the end of 2024.
The team behind the meme coin project, though, remains active and recently announced an important integration.
SHIB Army Applauds the Move
Several hours ago, Shiba Inu revealed on its official X account that it has partnered with Unity Nodes to unlock “real-world utility.” Users will be able to purchase Nodes with the meme coin, obtain SHIB-branded NFT licenses, earn rewards, and receive bonus licenses when paying with the asset.
“This collaboration unlocks new earning opportunities for SHIB holders while demonstrating how cryptocurrencies can integrate with established global industries like telecommunications,” the announcement reads.
Unity Nodes is a blockchain-based mobile edge network. It has an application suitable for iOS and Android, via which users can send and receive verified data (balances, rewards, or transactions).
The Shiba Inu community (known as SHIB Army) reacted positively to the news. Some described the development as a “game-changer” for the ecosystem, while others claimed that Nodes are “the next rocket fuel.”
Despite the enthusiasm, the price of the meme coin did not post any substantial gains today (November 12) and, in fact, remains in the red on a daily scale. As of this writing, SHIB trades at around $0.000009883, representing an 8% decline over the past month.
Further Collapse Incoming?
Shibarium’s poor activity and some other factors suggest that Shiba Inu’s valuation may continue to decline in the short term. Over the past few months, daily transactions processed on the layer-2 blockchain solution have dropped to mere thousands (compared to the multi-million figures witnessed earlier this year).
According to many analysts, the protocol’s advancement is among the key elements that could reignite a SHIB rally, but its declining network usage signals a bearish scenario.
The rising SHIB exchange netflows are next in line. Over the last week, inflows have surpassed outflows, indicating that investors have shifted from self-custody methods to centralized platforms – a trend that increases immediate selling pressure.
Shiba Inu’s burn rate is among the few bullish factors. More than 824 million tokens have been destroyed in the past seven days, meaning a 2,600% rise compared to last week’s figure. The burning mechanism aims to reduce the overall supply of SHIB, thus fueling a potential price rally (should demand remain stable or head north).