Developers of the meme token Shiba Inu (SHIB) have entered into a partnership with infrastructure provider D3 Global to register a top-level domain โ ".shib".
D3 focuses on next-generation network addresses that facilitate interaction between Web 2.0 and Web3. According to the company's website, current Web3 domain names like ".crypto" and ".eth" do not work with traditional tools, including web browsers and email, as they do not support DNS protocols.
Conventional domains also do not support the features of the new internet generation. Soon, D3 will submit an application to ICANN, a non-profit organization based in the United States that creates and enforces policies regarding online identifiers.
If approved, SHIB holders will be able to create email addresses with the ".shib" ending. According to the company's statement, they will be compatible with regular email applications.
The initiative will also implement "name tokens," replacing the classic alphanumeric wallet address with chosen nicknames with the corresponding prefix, similar to the Ethereum Name Service.
Shiba Inu Dynamics: The price of SHIB has hardly reacted to the news. According to CoinGecko, over the past month, the token has grown by 18% to $0.0000102. However, the asset still does not reach the annual high of February at $0.000015.
Compared to other altcoins like Solana and Avalanche, which have grown by over 500% and 200% in the past year, respectively, the meme token shows relatively weak dynamics.
Nevertheless, in recent days, researchers have noted an increase in whale interest in SHIB. According to WhaleAlert, on December 18, an unknown entity transferred 579 billion SHIB, amounting to about $5.88 million.
On the same day, Tron co-founder Justin Sun moved nearly 500 billion SHIB (approximately $5.13 billion at that time) from the Binance exchange to his personal wallet.
The stability of the meme token is also influenced by the pace of its burning to maintain the project's deflationary model. Since the start of the initiative, approximately 410 trillion SHIB (about 41% of the total supply) have been burned.
L2 solution tokens Shibarium โ BONE and LEASH โ also demonstrate unimpressive performance. The former decreased by 7% annually, while the latter grew by 3.7%.
Recall that in August, during the launch of the second-layer network's mainnet, a malfunction occurred, causing transactions to get stuck in a pending state. SHIB reacted with a 6% drop.
A week and a half after the incident, developers fixed the issue and relaunched Shibarium.
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