- The launch of SHIB domain names has been facilitated by the D3 platform and will support web3 while operating on the DNS for full internet compatibility.
- The launch of the SHIB domain names will have a profound impact on the mass adoption of Shiba Inu as a utility-based meme coin.
Shiba Inu (SHIB), the leading meme coin on the Ethereum (ETH) network with nearly 1.4 million on-chain holders, has gradually grown into a vibrant web3 ecosystem. Web3 developers have been launching decentralized financial (DeFi) projects on the Shibarium layer-two network, which has significantly improved the overall SHIB’s on-chain activity.
Consequently, the Shibarmy has directly benefited from the heightened auto burn rate and the increased demand. As Crypto News Flash has severally reported, the increased SHIB burn rate will ultimately have a huge impact on the underlying price action, especially in the confirmed crypto bull market.
According to market data provided by defillama, the Shibarium network is home to over a dozen web3 platforms that have locked more than $1.76 million to ensure the ecosystem’s stability.
SHIB Domain Names Launched at a Discount
As formerly reported by Crypto News Flash, the Shiba Inu ecosystem will work closely with D3, a leading domain name company focused on web 1-3, to launch the SHIB domain names. The standard SHIB domain names will cost $10 per name on an annual basis whilst the premium names will start at $50 per name per year.
Some of the standard shib domain names include technology*shib, and foundation*shib, while premium names include seller*shib, loan*shib, earn*shib. For the early adopters of SHIB domain names, the announcement noted that they will get a one-time 69 percent discount on their first shopping cart of up to 20 SHIB name tokens. Worth noting that the promotion ends 69 hours after early access opens,
LFG #SHIBARMY! Shib Names have officially launched! 🐕
Grab 69% off your first cart by using ‘SHIBARMY’ as a coupon code 💪
🔗 https://t.co/EOppXvoNf0 pic.twitter.com/Q8t4Bqmu2n— Shib (@Shibtoken) March 6, 2024
The SHIB domain names feature a star instead of the traditional dot as they are limited to the web3 functionality. Furthermore, the use of star functionality makes SHIB domain names unique in the industry that is heavily dominated by traditional dots. Meanwhile, SHIB domain name users can seamlessly trade the names on the D3 marketplace.
Shiba Inu Flexes its Market Dominance
The notable crypto cash rotation in the past few weeks has triggered a meme coin frenzy that has seen Shiba Inu’s (SHIB) price break out from the macro bearish outlook. The largest meme coin on the Ethereum network with a fully diluted valuation of about $31 billion and a daily trading volume of more than $5 billion has signaled the onset of the much-anticipated parabolic rally.
With the notable Shiba Inu network development in the past year, SHIB price has finally broken out of a macro bear market consolidation. Following last week’s bullish close, SHIB’s weekly Relative Strength Index (RSI) has rallied above the 70 level, thus signaling the bulls are in control. In accordance with Crypto News Flash’s prior coverage, SHIB has asserted its market dominance over top-tier layer one coins like XRP and Solana (SOL).
In the past two weeks, SHIB’s price has rallied more than 300 percent to trade around $0.00003165 on Thursday, March 7, 2024.
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