{"id":31445,"date":"2024-12-27T08:22:08","date_gmt":"2024-12-27T08:22:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31445"},"modified":"2024-12-27T08:22:08","modified_gmt":"2024-12-27T08:22:08","slug":"pi-network-updates-shiba-inu-shib-developments-and-more-bits-recap-dec-27","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31445","title":{"rendered":"Pi Network Updates, Shiba Inu (SHIB) Developments, and More: Bits Recap Dec 27"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

The Pi Network\u2019s Open Network launch is delayed again to January 31, 2025, disappointing users awaiting progress.
\nShiba Inu\u2019s \u201cSHIB: The Metaverse\u201d expands its ecosystem, offering virtual real estate trading and global connectivity.
\nBitcoin (BTC) fell 12% from its $108,000 peak amid possible Federal Reserve policy shifts.<\/p>\n

<\/a><\/span><\/h2>\n

Delays After Delays<\/h2>\n

Pi Network<\/span> \u2013 <\/span>the controversial cryptocurrency project that claims to allow people to mine digital assets from their smartphones<\/span> \u2013 <\/span>continues to raise eyebrows across its community. <\/span>It<\/span> was launched more than five years ago, <\/span>but<\/span> the open mainnet and native token have yet to be introduced.<\/span>\u00a0<\/span><\/p>\n

Earlier this year, the team said the first huge target is the release of the Open Network. They also stated this could become possible once users pass necessary Know-Your-Customer (KYC) verifications and migrate to the mainnet (known as the Grace Period).<\/span><\/p>\n

The initial deadline for that was September 30<\/span>, <\/span>while<\/span> later<\/span>, <\/span>it was <\/span>moved<\/span><\/a> a few more times to December 31.<\/span> Most recently, the Pi Network team <\/span>announced<\/span><\/a> another extension to January 31:<\/span><\/p>\n

\u201cWe\u2019re extending both KYC and Mainnet Migration Grace Period deadlines to January 31, 2025, to help include more Pioneers and their Pi as we prepare for Open Network in Q1 2025.\u201d<\/span><\/p>\n

Somewhat <\/span>expectedly<\/span>, this was not accepted well by some <\/span>members of the community<\/span> who have been waiting for serious developments for years.\u00a0<\/span><\/p>\n

\u201cIt has been your trend of doing things. We\u2019re not surprised. You have always lied. Those dates are not even real: delay, delay, delay, until project dies,\u201d one frustrated user <\/span>said<\/span><\/a>.<\/span><\/p>\n

Shiba Inu\u2019s Latest Project<\/span><\/h2>\n

The popular meme coin recently <\/span>launched<\/span><\/a> a virtual world called \u201cSHIB: The Metaverse.\u201d <\/span>The project, described<\/span> as \u201cgroundbreaking\u201d <\/span>by Shibarium\u2019s Marketing lead LUCIE,<\/span> enables\u00a0users to own, trade, and develop virtual real estate recorded on the blockchain.<\/span>\u00a0<\/span><\/p>\n

Additionally, people can build their <\/span>own<\/span> vision, create personalized avatars, and connect globally with other members of the SHIB community.\u00a0<\/span><\/p>\n

In the past few years,<\/span> Shiba Inu has introduced many other projects, thus showcasing its evolution from a meme coin to a broader ecosystem.<\/span> Examples are the layer-2 scaling solution Shibarium and the blockchain-based games <\/span>Shiboshi Rush<\/span><\/a> and Shiba Eternity.\u00a0<\/span><\/p>\n

BTC Price Condition<\/span><\/h2>\n

We\u2019ll wrap up today\u2019s recap with <\/span>some<\/span> information about the primary cryptocurrency, which has experienced a substantial price decline <\/span>lately<\/span>.<\/span><\/p>\n

Bitcoin (BTC) reached a new all-time high of over $108,000 on December 17, but since then, it has plummeted by 12% to its current $95,000 (per CoinGecko\u2019s data).
\n<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

As<\/span> CryptoPotato<\/span><\/em> reported<\/span><\/a>, <\/span>the downfall started <\/span>shortly<\/span> after the Federal Reserve announced another 0.25% rate cut.<\/span> However, the central bank\u2019s Chairman \u2013 Jerome Powell \u2013 hinted that <\/span>this policy might be paused<\/span> next year due to rising inflation concerns. He <\/span>also<\/span> added that the Fed\u00a0is not allowed to hold BTC, casting doubt on Trump\u2019s proposed plan to establish a strategic BTC reserve in the USA.\u00a0<\/span><\/p>\n

One <\/span>important<\/span> factor signaling that the asset\u2019s correction might intensify in the short term is the increased exchange netflow. On December 26, the technical analyst Ali Martinez <\/span>maintained<\/span><\/a> that <\/span>33,000 BTC (currently valued at over $3.1 billion) had been sent<\/span> to platforms in the past week.<\/span><\/p>\n

The move indicates that investors may be preparing to offload their holdings. Large sell-offs would result in increased circulating supply, which, combined with non-rising demand, could put downward pressure on Bitcoin\u2019s price.<\/span><\/p>\n

The post Pi Network Updates, Shiba Inu (SHIB) Developments, and More: Bits Recap Dec 27<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR The Pi Network\u2019s Open Network launch is delayed again to January 31, 2025, disappointing users awaiting progress. Shiba Inu\u2019s \u201cSHIB: The Metaverse\u201d expands its ecosystem, offering virtual real estate trading and global connectivity. Bitcoin (BTC) fell 12% from its $108,000 peak amid possible Federal Reserve policy shifts. Delays After Delays Pi Network \u2013 the […]<\/p>\n","protected":false},"author":0,"featured_media":31446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31445"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31445"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31446"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}