Over the last 24 hours, the price of the meme token Shiba Inu (CRYPTO: SHIB) has risen. The cryptocurrency is more than 3% higher as of 3:30 p.m. ET today, as cryptocurrencies bounced and news spread that Shiba Inu could be launching more projects on its network.
Shiba Inu has been rising over the last couple of days as the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), and the rest of the crypto market has rebounded. Bitcoin as of this writing is up roughly 12.5% over the past five days.
Yesterday, the lead developer of Shiba Inu, Shytoshi Kusama, said in a blog post that Shiba Inu is planning to launch a stablecoin project called Shi, a reward token, and a new set of collectibles for the metaverse.
Source Fool.com