Shiba Inu (SHIB) Announcement: A Potential Trigger for Bull Run?

• Shiba Inu Partners with D3 Global for Innovative Domain Launch
• Cooperation with ICANN
• Shiba Inu's Market Performance
• Outlook on Cryptomarket Bull Run
• Navigating Market Fluctuations

Shiba Inu Partners with D3 Global for Innovative Domain Launch

Shiba Inu$0.000010 -2.05% (SHIB) recently announced its partnership with D3 Global to introduce its top-level domain (TLD). Despite this forward-thinking measure aimed at fortifying its mainstream presence, SHIB's value continues its downtrend. As the new year approaches, industry experts await a market bull run, spurred potentially by this recent Shiba Inu announcement.

Cooperation with ICANN

The latest partnership entails collaboration with the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organization tasked with managing major aspects of the Internet. The proposed ".shib" domain aims to transcend the restrictions faced by existing web3 domains such as '.crypto' and '.eth'. These domains encounter difficulties in integrating smoothly with key internet tools like web browsers and email due to their non-utilization of the Domain Name System (DNS).

Shiba Inu's Market Performance

Following the announcement, Shiba Inu's value remained depressed over the subsequent week, with a trading value of $0.00001028 at the time of reporting. Over the previous weekend, SHIB showcased increased volatility, rising 23% on Dec. 16, only to witness a subsequent dip of 14.39% from its peak on Dec. 17. SHIB's market cap stands marginally over $6 billion, with a 24-hour trading volume of approximately $150 million.

Outlook on Cryptomarket Bull Run

The impact of the recent Shiba Inu announcement on the currently bearish cryptomarket is not expected to be substantial. More likely, the next crypto bull run will be driven by the approval of a Spot Bitcoin$42,260 -0.64% ETF by the SEC, anticipated by experts to occur in Q1 2024. In the absence of such a catalyst, Shiba Inu's bearish trend is likely to persist through the end of 2023.

Navigating Market Fluctuations

As the cryptocurrency landscape continues to evolve, Shiba Inu's capacity to navigate these market oscillations will be crucial in dictating its future path following the partnership with D3.

Edited by Jonathan Stoker