U.S. Markets closed
  • S&P 500

    3,845.47
    +14.08 (+0.37%)
     
  • Dow 30

    31,039.65
    +71.83 (+0.23%)
     
  • Nasdaq

    11,362.20
    +39.96 (+0.35%)
     
  • Russell 2000

    1,727.48
    -13.85 (-0.80%)
     
  • Crude Oil

    98.13
    -1.37 (-1.38%)
     
  • Gold

    1,737.70
    -26.20 (-1.49%)
     
  • Silver

    19.16
    +0.03 (+0.18%)
     
  • EUR/USD

    1.0186
    -0.0084 (-0.8149%)
     
  • 10-Yr Bond

    2.9130
    +0.1040 (+3.70%)
     
  • Vix

    26.82
    -0.72 (-2.61%)
     
  • GBP/USD

    1.1922
    -0.0030 (-0.2527%)
     
  • USD/JPY

    135.9000
    +0.0580 (+0.0427%)
     
  • BTC-USD

    20,391.82
    -78.59 (-0.38%)
     
  • CMC Crypto 200

    440.06
    +4.54 (+1.04%)
     
  • FTSE 100

    7,107.77
    +82.30 (+1.17%)
     
  • Nikkei 225

    26,107.65
    -315.82 (-1.20%)
     

Could the Shiba Inu Crypto Be the Biggest Winner From a Microsoft-Activision Deal?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

As it stands today, Shiba Inu (CCC:SHIB-USD) has been on a downward spiral for over two months. In fact, SHIB prices are almost back to where they were before a fall 2021 explosion. And yet, there’s still reason to be bullish. Shiba Inu crypto holders are waking up and smelling the roses today, and it’s all thanks to Microsoft (NASDAQ:MSFT). As the company prepares its newest acquisition, a Shiba Inu spokesperson says the news is bullish for the SHIB community.

A concept image for the Shiba Inu (SHIB) cryptocurrency.
A concept image for the Shiba Inu (SHIB) cryptocurrency.

Source: Shutterstock

Shiba Inu developers have been making moves to beef up the project’s offerings. After long being criticized for its lack of use cases, things began changing in the summer of 2021. This is thanks to the introduction of the ShibaSwap decentralized exchange. This new initiative came with opportunities for users to earn passive income by staking their holdings.

More recently, the project is taking on more grand and ambitious projects. Notably, it announced a coming layer-2 network called Shibarium, and a metaverse built on that layer-2.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

In proving that developers are really dedicating themselves to these upgrades, they have announced their partners in developing the Shiba Inu metaverse. Australian game studio Playside Studios will handle the brunt of development, with Activision Blizzard (NASDAQ:ATVI) ex-patriate William Volk heading the ship.

Microsoft’s Activision Buy Stands to Help the Shiba Inu Crypto

There’s a lot lined up for the Shiba Inu crypto that will surely spur gains as it launches new products. Yet, news this week from the Microsoft camp could prove to help SHIB as well. The company, as it turns out, is acquiring Activision Blizzard in a deal worth nearly $70 billion.

ICYMI: This acquisition echoes our last move to bring aboard former Activision VP .@william_volk and hiring of .@PlaysideStudios to work on our game. It's fun to see the big players share the same vision as a "meme coin" on the MV too. #bullish! #SHIBARMY https://t.co/KBOEWeG7q9

— Shytoshi Kusama™ (@ShytoshiKusama) January 18, 2022

Shiba Inu’s resident spokesperson, Shytoshi Kusama, took to Twitter yesterday to tell SHIB owners that the news is promising for the project as well. Of course, the SHIB network has its own Activision connection via William Volk. Kusama says the acquisition “echoes” Shiba Inu’s decision to bring in Volk. They also said that Microsoft and the project share similar visions, as evidenced by the news.

Kusama’s comments are helping to rally the community. Lots of replies to Kusama’s post show bullish attitudes toward the coming metaverse product. While the community gets excited over the connection, SHIB is paring a slight loss, trading down by a half a percent.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

The post Could the Shiba Inu Crypto Be the Biggest Winner From a Microsoft-Activision Deal? appeared first on InvestorPlace.