In a recent blog post, the anonymous developer behind Shiba Inu (SHIB), a cryptocurrency similar to Dogecoin (DOGE), has shared the future plans for the meme-based asset. The developer, who goes by the name Shytoshi Kusama, has also alerted investors to be wary of potential fraudsters.
The post includes information about SHIB’s upcoming line of genuine physical products, Shibacals. These collectibles are set to be authenticated via electronic chips using Shibarium, the protocol’s layer-2 scaling solution.
“While not a new concept, eBay, for example, authenticates watches, sneakers, and purses, and rumors of Amazon’s foray into non-fungible tokens (NFTs) abound; Our unique approach of digital authentication of physical items through a near field communication (NFC) chip, creation of the items in house, and blockchain transaction sets us apart and demonstrates just one use-case for Shibarium.”
Shytoshi stated the fact that this unique approach to authenticating items is a first in the industry and one that sets up favorable conditions for businesses.
“These NFC chips can link to dynamic destinations setting up a myriad of possibilities that are ideal for businesses. This also means that for those who are creators, say people who sell on ETSY or have their own website for creating products, can simply add a Shibacal NFC tag and decide how they want to use this tag for their creations. You are witnessing yet another industry first.”
DOGE to enter a new rally
A popular analyst says that leading meme crypto asset Dogecoin (DOGE) could spark a rally by the end of the year or early 2024.
In a new video update, Nicholas Merten, the host of DataDash, said recently that smart money tends to accumulate altcoins like DOGE once they’re at a heavily discounted price.
He believes that after Dogecoin is about 95% from its all-time high, blue-chip accumulation should begin.
“Smart money, the accumulators, are looking at these prior discount ranges, they’re looking to build positions around these ranges. I think, generally speaking, that we’re going to be probably coming around 95%, somewhere in this ballpark range…”
