Shiba Inu Holds Above Key Level
Shiba Inu (SHIB), the second-largest meme coin, is trading above its 21-Day Moving Average and the $0.000010 level. While it has pulled back from last week’s highs, SHIB’s trend remains bullish.
Partnership for Web3 Domain
Shiba Inu has partnered with D3, a web3 domain name specialist company, to apply for the “.shib” top-level domain. This partnership aims to bridge the gap between the Shiba Inu ecosystem and traditional internet infrastructure.
Benefits of Securing .shib TLD
If Shiba Inu successfully obtains the .shib TLD, it will provide direct access to the SHIB ecosystem for over 5 billion internet users. This move expands Shiba Inu’s vision for digital identities and revenue generation within the ecosystem.
Push for Decentralized Identity
The partnership with D3 is part of Shiba Inu’s broader efforts to develop a decentralized identity within its ecosystem. It has already launched its own Shiba Name Service (SNS) and non-custodial crypto wallet this year.
Rise in Adoption
Shiba Inu’s Ethereum layer-2 scaling blockchain, Shibarium, has seen an increase in on-chain activity recently. The number of daily on-chain transactions has surged, indicating growing adoption and interest in the blockchain.
Price Prediction for SHIB
The bullish trend for SHIB suggests a potential rally towards previous highs around $0.000017-18. However, if SHIB falls below its 21-Day Moving Average, a downward move towards the 200-Day Moving Average is possible.
Consider Crypto Presales
For those seeking high-risk, high-reward investment opportunities, participating in crypto presales of upstart projects can be an alternative strategy. These presales often offer tokens at lower prices and have the potential for exponential gains.
Hot Take: Shiba Inu Continues to Develop and Attract Attention
Shiba Inu’s partnership for the .shib top-level domain and its push for decentralized identity demonstrate its commitment to expanding its ecosystem. With rising adoption and positive price trends, SHIB continues to attract interest from investors. However, it’s important to note that crypto investments carry risks, and careful consideration should be given before making any investment decisions.
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