The memecoin price experienced a rise of more than 20% in the last 7 days. With this rise, SHIB is positioned as the second crypto asset with the most gains in the last week
Shiba Inu fired after announcement about the Shibarium network. The price of the shiba inu memecoin experienced a rise of more than 20% in the last 7 days. It briefly exceeded $0.00001 for the first time since last May.
SHIB was placed as the second crypto asset with the most gains in the last week, among the hundred coins with the highest capitalization.
Currently the market capitalization of Shiba Inu is US $ 5,566 millionwhich makes it the 4th largest crypto asset on the market and the second memecoin after dogecoin (DOGE).
This week the Shiba Inu co-founder, known as Shytosi Kusama, revealed his plan to integrate SSI into Shibarium, the soon-to-be-launched network. This concept, which refers to “self-sovereign identity” or “self-sovereign identity” said in Spanish, is a digital identification system that allows individuals to autonomously create and control their accounts and personal data.
Different organizations and governments have stated in recent years that they are working on this development to break with the traditional schemes that require intermediaries. And Shiba Inu hopes that by integrating SSI, it will come to be seen as a serious project of the cryptocurrency industry rather than just a memecoin.
“We are laying the foundations for a new global standard in decentralized digital trust and international identity verification”Kusama said.
Source: Ambito
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