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- Shiba Inu price gained about 2 percent in the past 24 hours to trade around $0.00000736 on Friday, with high anticipation of price recovery to signal the onset of the macro bull rally.
- The Shibarium ID, which is expected to launch in late October, is set to focus on building a universal name service network and a comprehensive human identity platform for Web3 domains.
The Shiba Inu (SHIB) team is preparing for a bullish October after months of intense development of the Shibarium layer two scaling solution. Late next month, the Shibarmy will welcome the Shibarium ID protocol in a bid to streamline the DeFi development sustainably. The upcoming name service platform for the Shibarium network will allow users to register, trade, and manage their .shib domains under one environment.
Already, the team developing the Shibarium ID platform has introduced a referral program for users to earn a commission. Furthermore, the Shibarium ID was envisioned to empower the entire Shiba Inu ecosystem, hence a free domain sale delegated to Shiba Inu burns, Doggy DAO, and the not-for-profit donations. As a result, the Shibarium ID developers resonated with Shytoshi Kusma’s ideology of giving power to the community.
@ShibariumID is officially launching in late October.
We're here to help transform the entire $SHIB ecosystem. pic.twitter.com/DVm0ZtJzW7
— ShibariumID | #1 Platform for .shib Domains (@ShibariumID) September 27, 2023
What the Shibarium ID Means for the Shiba Inu Market Outlook
The Shibarium ID movement is a company based in Wyoming, U.S. with a keen focus on decentralized finance (DeFi). One of the top features of the Shibarium ID is the centralized discovery hub that allows users to search across supported top-level domains (TLDs) and trending domain collections with auto-suggestions and quick registration status checks. The Shibarium ID platform also provides a specialized marketplace for trading the users’ domains. Additionally, the Shibarium ID offers a unified portal for streamlined management tasks like domain renewal, record-keeping, and ownership oversight.
“The ultimate vision of Shibarium ID is to create a universal name service network, bridging decentralized identities and the digital/physical world. Although the journey towards this vision is challenging, each step brings them closer to becoming a comprehensive solution for universal digital identity,’ the company explained on the official website.
The launch of Shibarium ID will be critical for the future market outlook for the second-largest meme coin ecosystem. Moreover, there is a need to differentiate between human and artificial intelligence (AI) bots which have significantly increased in the past few years.
Price Analysis
The Shiba Inu ecosystem consists of several tokens – including SHIB, LEASH, and BONE – that depend on the development of the Shibarium layer two scaling solution. Nonetheless, each token complements the other as an incentive program for the Shibarmy. In the past month, Shiba Inu’s price has dropped about 11 percent but found a solid support base for an imminent reversal in October.
📢 "We FULLY intend to support the community. Hence the paper. Takes time, that's all. But I think it's time for my silence to end SOON." – @ShytoshiKusama
🚀 Exciting times ahead!
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) September 29, 2023
As a top-rated meme coin, the Shiba Inu price action is still heavily dictated by the speculation and the tweets from Kusma. Earlier today, Kusama noted that he is about to break his long-time silence and update the community on the next development plans.
