Shiba Inu Devs Launch Shib Name Service (SNS); Will SHIB Price Rally?
Shiba Inu developers have have initiated a ‘surprise’ step towards a unique SHIB self custodial identity. Today they announced launch of Shib Name Service (SNS). This leaves scope for a potential SHIB price rally in the lead up to the countdown.
Also Read: Mike Novogratz’s Galaxy Digital Going Long On Bitcoin And Ethereum: Lookonchain
The announcement comes at the back of the launch of Shibarium, the layer-2 scaling solution for the Shiba Inu (SHIB) cryptocurrency. Earlier, CoinGape reported that the project’s top developers plan to incorporate Self Sovereign Identity (SSI), a blockchain-based digital identity system into all Shiba Inu projects.
SHIB Self Custodial Identity
Although the developers have not disclosed full details of the self custodial identity initiative, they said a 72 hour countdown is already underway. Hence, instructions on how to go about the first step to unlock the unique SHIB identity would be released on Wednesday, 1 November, 2024. Shiba Inu (SHIB) developer Kaal Dhairya said the first step towards self custodial identity on the ecosystem was coming. The developers described the initiative as a game changer that causes “a seismic shift in the blockchain world.”
“Attention, Shib Army! We all love a good surprise, and yours is on the horizon – the very first step to unlock your unique Shib identity is just 72 hours away!”
Following the launch of the 72 hour countdown, the SHIB price took a sharp upward curve path.
Self Sovereign Identity
On August 3, 2023, Shiba Inu’s lead developer Shytoshi Kusama revealed plans to integrate SSI Self Sovereign Identity in all Shiba Inu projects. The upcoming announcement may most likely be based on the SSI integration.
Today, Shiba Inu team officially announced release of Shib Name Service (SNS) using which any Shib holder can get their own Shiba Inu name.
Also Read: Dogecoin Whale Address Resurfaces After 9.8 years; Time to Buy?
- Peter Brandt Flips Bullish on Bitcoin, Ethereum, XRP, and XLM
- Binance to Compensate Users After Ethena’s USDe Depeg During Crypto Market Crash
- Tom Lee’s Fundstrat Predicts Ethereum Rally to $5,500 Following ETH ‘Bottom’
- Is the Bitcoin Top In? Raoul Pal Signals Higher Liquidity Cycle Despite Market Selloff
- Expert Says XRP ETF Approval Is ‘Getting Close’ As Issuers File Amendments
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
