The initial release of the SHIB Name Service will be distributed free to Shiba Inu community members, with prices remaining at a 68% increase. Will SHIB prices rise further? Let’s take a look at this SHIB price Read the article in more detail.
SHIB Price: Shytoshi Kusama Stops Token Transfers
Earlier this year, Shiba Inu’s mysterious man Shitoshi Kusama revealed how he subscribes to social media services. Getting involved early not only gives you an advantage, it also gives you some great benefits in the ever-growing world of Web3.
SNS comes with awesome features such as easy transactions, compatibility between different blockchains, personalized user IDs, metaverse integration, and early access benefits. It is also designed to work well with multiple blockchain networks for smooth sailing.
Now, according to the latest news, Shiba Name Service version 1.1 will be released to the community. We’ll take a snapshot to try to figure out the SHIB name, but beware of scammers trying to get a quick name during this sweepstakes.
SHIB Pricing: What is SHIB Name Service?
Just a few months ago, Shiba Inu launched the SHIB Name Service (SNS) on the Shibarium Layer-2 network, breaking away from its meme coin origins. According to Tuesday’s announcement, the new feature will allow users to exchange confusing blockchain addresses for simple, easy-to-remember domain names.
Think of it like the Ethereum Name Service, but tailored for the Shiba Inu gang. Instead of dealing with long strings of random characters, users can hijack their “.SHIB” domain via name.shib.io to earn some Bone ShibaSwap (BONE) tokens for permission. BONE token holders have a say in how the Shibarium network develops and also use them to cover transaction fees.
And that’s not all Shiba Inu cooks. Their leader, Shytoshi Kusama, also unveiled a cool new encrypted messaging system to improve user interaction on the Shibarium platform.
These two features – SNS and a messaging system – are just part of a larger plan, SHIBDentity, that the developers announced last August. Think of it as a decentralized identity system that allows netizens to protect themselves from identity theft in the digital realm. At least that’s the idea they’re pitching.
They also tout that their idea of decentralized identity complies with the standards set by the World Wide Web Consortium. And they don’t stop there. The team set their sights on a bigger goal: a super app called ‘The Hub’.
SHIB Price: Will Shiba Inu Prices Soar?
Looking at what’s been happening with Shiba Inu (SHIB) recently, especially the upcoming SHIB Name Service (SNS) update, it’s natural to wonder how this will affect the SHIB price. That’s pretty interesting!
The fact that SNS is available for free to the Shiba Inu community has already created a stir, especially with the whopping 68% price increase. This is a sign that people are feeling pretty positive about the project. And SHIB will become more attractive as SNS updates add features such as easier transactions and compatibility with various blockchains.
Moreover, everyone became anxious when Shytoshi Kusama paused token transfers. This move adds a bit of suspense and makes SHIB feel more valuable. People are holding onto the tokens tightly, which can increase demand and consequently the price.
The introduction of the SHIB Name Service is significant because it shows that SHIB is moving beyond being just a meme coin. It is now important to build a more useful and connected ecosystem within the Web3 world. These changes, along with the promise of a better user experience and integration with the metaverse, could attract a whole new set of supporters.
But, let’s not get carried away too much. The cryptocurrency market is very difficult to predict. It’s important to remember that while excitement over social media updates may lead to price spikes in the short term, long-term success will depend on how many people actually start using SHIB, what happens in the wider cryptocurrency world, and more.
So while it may be tempting to jump on the SHIB hype train, it’s important to be careful and do your homework before jumping in. The success of the Shiba Inu’s plans ultimately comes down to whether they can follow through and deliver on their promises. A constantly changing cryptocurrency environment.
Where can I buy SHIB?
For individuals looking to enter the cryptocurrency market, Bitget emerges as a trustworthy platform. With low fees, a user-friendly interface, and a simple onboarding process, Bitget offers a convenient experience for both beginners and seasoned traders. Whether you are an experienced investor or a newcomer, Bitget offers an efficient way to buy and trade cryptocurrencies in a dynamic and rapidly evolving market.
Featured Posts
You may also like