November 6, 2023: The price of Shiba Inu (SHIB), a popular meme cryptocurrency, has been on the rise in recent days, coinciding with the Shiba Inu team’s initiation of a countdown for a mysterious project called “Identity.”
The Shiba Inu team began teasing the Identity project in September 2023, releasing cryptic messages and symbols that fueled speculation among the community.
On October 4, 2023, they officially announced the project and initiated a countdown for its launch, which was set to end on October 10, 2023.
However, the project’s unveiling was postponed, and the countdown was reset several times. The final launch date for Identity has not yet been announced.
Earlier, Shiba Inu unveiled the “SHIB Name Service” (SNS) on the Shibarium Layer-2. This innovative system aims to streamline blockchain addresses and enhance digital identity. This marks the first phase of the SHIBDentity system.
The service’s primary purpose is to simplify complex blockchain addresses, offering users easily readable on-chain addresses. Accessing the SNS is possible through name.shib.io. Users can utilize various Web3 wallets, including Coinbase Wallet, MetaMask, Trust Wallet, and Rainbow, to secure their domain. 1
Some observers said that the anticipation for Identity fueled speculation and excitement among the Shiba Inu community, leading to increased buying pressure.
Shiba Inu has a large and active community that is supportive of the project. This community has helped to raise awareness of SHIB and drive its price up.
Shiba Inu is a decentralized cryptocurrency that was created in August 2020. The cryptocurrency is named after a Japanese breed of dog. Shiba Inu is a meme cryptocurrency, which means that it was created as a joke. However, Shiba Inu has gained a large following and has become one of the most popular cryptocurrencies in the world.
- Benzinga : https://www.benzinga.com/markets/cryptocurrency[↩]
