What’s New with Shiba Inu’s 2024 Vision: The Reveal of “Shibdentity”

Shiba Inu (SHIB) has surprisingly managed to escape the bearish zone, as its price surged by 5.5% in the past 24 hours, reaching $0.000008898. This significant growth marks Shiba Inu’s first major increase in over a week, hinting at the possibility of the price reaching new highs in the near future.

Despite this positive development, there is speculation within the Shiba Inu community about the potential devaluation of the token by removing one more zero. However, recent on-chain research suggests that Shiba Inu has not fully regained its momentum. This is evident in the decrease of daily trading volume by more than 33%, amounting to $103,074,070. Nevertheless, the overall positive sentiment in the market is viewed as a positive factor that could attract more capital to SHIB.

Now, let’s delve into the reasons behind this optimistic outlook.

Shiba Inu has unveiled its vision for 2024, introducing a new digital identity system called Shibdentity. In a recent post, the Shiba Inu team disclosed their plan to move beyond wallet addresses as the primary identity in Web3. Developed in collaboration with D3Inc, Shibdentity aims to provide users with a secure and unified way to establish and maintain their digital presence. This will be achieved through the introduction of a unique identifier known as a “SHIB Name.”

The ultimate goal is to simplify token transactions, making them as effortless as sending an email using the exclusive SHIB Name. Additionally, Shibdentity will seamlessly integrate SHIB Names into the internet, granting users a distinct and recognizable identity in the Web3 space, similar to a username on a popular platform.

The developers also emphasize the importance of futureproofing users’ identities. They state that Shibdentity will adapt and evolve to ensure relevance and security as technology progresses. For the team, this new feature in Shiba Inu represents not only adaptation to the future but an active role in shaping it.

In a previous statement, SHIB leader Shytoshi Kusama highlighted the functionalities of Shibdentity. He emphasized users’ ability to utilize a .shib domain for hosting websites, sending emails, conducting transactions with SHIB and other assets, and verifying their identity on Web3. While an exact launch date for the Shibdentity project remains unknown, the team remains dedicated to advancing the ecosystem and preparing users for this revolutionized digital identity.

Tags: Altcoins

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