BitMEX co-founder Arthur Hayes has expressed praise for Shiba Inu’s latest milestone, the launch of SHIB Names. Despite recent price fluctuations, this development is seen as a crucial step in the meme coin’s journey, gaining credibility and recognition in the crypto sector.
Hayes, known for his insights into the crypto market, joined the chorus of approval, emphasizing the growing influence of “dog money” in shaping the internet’s trajectory. His endorsement not only validates SHIB Names but also signals a broader acknowledgment of Shiba Inu’s evolving ecosystem.
The SHIB Names launch is a collaborative venture with D3 Inc., a DNS domain company, aimed at revolutionizing the community’s exploration of Web3. This marks a pivotal moment for Shiba Inu, empowering its members to navigate the decentralized web space, fostering innovation, and ensuring accessibility.
Shytoshi Kusama, the lead of Shiba Inu, joined the celebration, emphasizing SHIB Names as a milestone for the meme coin’s ecosystem. His comparison of “Shib” to “.com” reflects a bullish sentiment, hinting at the potential for SHIB Names to become a ubiquitous presence in the digital landscape, similar to the iconic domain extension.
Despite the recent cooling in SHIB’s rally, the excitement surrounding SHIB Names lingers, fueling optimism among market enthusiasts and within the Shiba Inu community. The development is not only seen as a Web3 breakthrough but also as an endorsement for other dog-themed meme coins like Dogecoin and dogwifhat.
Looking at Shiba Inu’s current market performance, SHIB is trading on a downtrend since failing to break the new yearly high of $0.000045. As of this writing, SHIB is exchanging hands at $0.00003148, down by 13% in the past 24 hours. Despite the decrease, SHIB has an impressive weekly gain of 129%, while the monthly gain stands at 250%. SHIB’s immediate resistance is observed at $0.00003700, while the support is seen at $0.00002900.
