DEV Community

Cover image for Shiba Inu is set to have its own domain name.
Andy Larkin
Andy Larkin

Posted on

Shiba Inu is set to have its own domain name.

Developers of the meme token Shiba Inu (SHIB) have entered into a partnership with infrastructure provider D3 Global to register a top-level domain – ".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 — BONE and LEASH — 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.

Image of AssemblyAI tool

Challenge Submission: SpeechCraft - AI-Powered Speech Analysis for Better Communication

SpeechCraft is an advanced real-time speech analytics platform that transforms spoken words into actionable insights. Using cutting-edge AI technology from AssemblyAI, it provides instant transcription while analyzing multiple dimensions of speech performance.

Read full post

Top comments (0)

Billboard image

The Next Generation Developer Platform

Coherence is the first Platform-as-a-Service you can control. Unlike "black-box" platforms that are opinionated about the infra you can deploy, Coherence is powered by CNC, the open-source IaC framework, which offers limitless customization.

Learn more

👋 Kindness is contagious

Immerse yourself in a wealth of knowledge with this piece, supported by the inclusive DEV Community—every developer, no matter where they are in their journey, is invited to contribute to our collective wisdom.

A simple “thank you” goes a long way—express your gratitude below in the comments!

Gathering insights enriches our journey on DEV and fortifies our community ties. Did you find this article valuable? Taking a moment to thank the author can have a significant impact.

Okay