Bitcoin is struggling to maintain its position above $42,500, while several cryptocurrencies are reaching new highs. INJ Coin has surpassed the anticipated $40 mark, aiming for higher peaks above $42. Shiba Coin appears to have permanently removed a zero from its price, raising questions about the latest announcements.
Shiba Inu’s developer, Shytoshi Kusama, has declared that it’s time to move beyond legends and memes towards real-world utility. A partnership with D3 Global will enable the creation of shib name tokens within the Shib Name Service, marking a new product launch that the Shiba Coin team had been anticipated to introduce to excite the community.
Shiba Coin’s team has taken the expected step, with the Shiba Inu community claiming their domain name system is distinct from established projects like the Ethereum Name Server. Users will be able to have email addresses ending in .shib, which Kusama suggests is a groundbreaking step for the Shiba Coin experiment. Shibarium has already initiated a new phase, with the team continuing to work on building their ecosystem.
Although the Layer2 solution has not seen sustainable growth as anticipated, the introduction of new products could revive the community’s momentum. Adoption continues, albeit slowly, with the Manny Pacquiao Foundation announcing earlier this year that it would use Shibarium for organizing events.
At the time of writing, Shiba Coin is trading at $0.0000103, holding a critical price zone, which is positive as Bitcoin also stabilizes above $42,500. Upcoming PCE data on Friday is a critical indicator for inflation, and the market is cautiously optimistic. Signs of a potential spot Bitcoin ETF approval are encouraging altcoin investors, with Shiba Coin aiming for closures above the critical threshold after failing to maintain its peak at $0.00001161 last week.