Shytoshi Kusama, the main person behind Shiba Inu, says they won’t be adding any Web3 improvements to the meme coin’s system.
Shytoshi Kusama, the main person behind Shiba Inu, brought a lot of excitement to the broader crypto market on Wednesday. This happened when he shared some big plans for the Shiba Inu cryptocurrency, thanks to the active involvement of the coin’s community. According to Kusama’s latest post on the social media platform X, the community is now working together to create a “network state” to revolutionize both Web2 and Web3.
Interestingly, following this announcement, the price of SHIB, the Shiba Inu cryptocurrency, experienced a quick rise. However, as of now, the SHIB price dipped briefly, leading to more discussions about the future of this meme coin.
Shiba Inu’s Ambitious Move: Creating the .SHIB Domain
Shytoshi Kusama, the lead developer of Shiba Inu, recently revealed exciting plans for the Shiba crypto community. They are collaborating with D3 Inc, a domain company, to venture into the internet realm by applying for a “.SHIB” Top Level Domain (TLD). This strategic move aims to tap into the widespread popularity of Web2 infrastructure on a global scale.
Kusama emphasized the substantial increase in internet users over the past year, highlighting the potential for the SHIB community to establish a domain that seamlessly integrates with essential internet tools like web browsers and emails. This initiative sparks significant optimism for the SHIB token. Simultaneously, the Shiba crypto community takes a bold step forward by enhancing the SHIB tokenomics through this new domain-building endeavor.
The SHIB lead developer pointed out that users predominantly rely on domains when navigating the Web3 landscape. In this context, Kusama introduced the concept of a potential “.SHIB” domain, generating immense curiosity within relevant industries.
Once the project successfully commences, users will have the versatility to use the .SHIB domain for various purposes, including hosting websites, blogs, online stores, and managing emails.
Currently, existing Web3 names like .crypto and .eth operate independently of Web2 internet tools, lacking integration with the Domain Name System (DNS). However, the introduction of the .SHIB domain positions the Shiba community as pioneers, bridging Web2 and Web3 interoperability through DNS, marking a significant leap forward in the crypto ecosystem.
Shiba Inu Price Dynamics: A Close Look at Recent Movements
As of the latest update, the Shiba Inu price has experienced a modest increase of 1.70% in the past 24 hours, currently settling at $0.00000555. Notably, the price today predominantly trended in the green, with a brief moment of decline.
In addition to the price movement, the token’s 24-hour trading volume witnessed a significant surge, registering a remarkable 67.8% increase to reach $299.38 million. These fluctuations indicate active market dynamics and investor interest in Shiba Inu.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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