- The Shiba Inu team has confirmed that it has joined the Content Delivery and Security Association (CDSA) to safeguard media and entertainment content.
- SHIB prices have reacted with Shiba Inu becoming the first layer 2 blockchain to join the media and entertainment association.
The Shiba Inu team has announced that the project is joining the Content Delivery and Security Association (CDSA) to safeguard media and entertainment content. Shiba Inu aims to facilitate content security and distribution through Shibarium and blockchain technology.
The initiative seeks to harness blockchain technology to tackle deepfakes and plagiarism within the AI field. The AI field has taken off, dominating almost all sectors. However, there’s rising concern in the media and entertainment industry with deepfakes and plagiarism leading to a lot of fake and potentially harmful content being developed and distributed.
AI researchers are worried that deepfakes and plagiarism could become problems as most AI models learn from publicly available data. The Shiba Inu developers believe blockchain technology might offer a solution for the emerging field of AI.
Speaking on the collaboration, Shiba Inu lead developer Shytoshi Kusama stated:
We look forward to providing a unique and blockchain-first perspective to CDSA’s work in helping media and entertainment executives better utilize these innovative technologies, especially as blockchain and artificial intelligence converge,
CDSA was established in 1970, which makes the collaboration one of the most reputable associations for Shiba Inu.
Shiba Inu (SHIB) Price Reaction
This announcement has led to little reaction in the market. Shiba Inu’s SHIB has shed 8% in the last 24 hours. This extends SHIB’s weekly losses by 5%. At the time of writing, SHIB is trading for $0.00002559. Much of the price movement is in line with a bearish wave sweeping the entire crypt market. Bitcoin (BTC) which has been dictating price movement has dropped to the $68,000 support, causing panic in the market.
The upcoming Bitcoin halving offers some bullish reprieve for the market leader and the second most popular memecoin, SHIB. So far this year in 2024, the Shiba Inu (SHIB) is up by 150% shadowing the returns of some of the top cryptocurrencies. As CNF has reported, SHIB burns have helped fuel these price rallies.
Data from the tracking platform Shibburn shows that the network has experienced a 1465% increase in SHIB burns over the last 24 hours. This sees the total number of tokens burnt since the initial supply reach 410,724,894,973,042 SHIB.
SHIB has recently formed a double bottom pattern, a “W” shape, which could see SHIB break the $0.000029 resistance, helping build bullish momentum to recent highs. Analysts believe SHIB is setting up for a breakout with the potential to reach $0.00003. Some experts are extremely bullish about SHIB and foresee it surpassing Dogecoin (DOGE) in market cap. SHIB holds a a $14.8 billion market cap while DOGE has a $26 billion market cap.
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