Shiba Inu Developers Initiate Unique SHIB Self Custodial Identity, Potential Price Rally Ahead

Developers of the Shiba Inu project have initiated a ‘surprise’ step towards a unique SHIB self custodial identity. This leaves scope for a potential SHIB price rally in the lead up to the countdown.

The announcement comes at the back of the launch of Shibarium, the layer-2 scaling solution for the Shiba Inu (SHIB) cryptocurrency. Earlier, CoinGape reported that the project’s top developers plan to incorporate Self Sovereign Identity (SSI), a blockchain-based digital identity system into all Shiba Inu projects.

Although the developers have not disclosed full details of the self custodial identity initiative, they said a 72 hour countdown is already underway. Hence, instructions on how to go about the first step to unlock the unique SHIB identity would be released on Wednesday, 1 November, 2024. Shiba Inu (SHIB) developer Kaal Dhairya said the first step towards self custodial identity on the ecosystem was coming. The developers described the initiative as a game changer that causes "a seismic shift in the blockchain world."

Following the launch of the 72 hour countdown, the SHIB price took a sharp upward curve path.

On August 3, 2023, Shiba Inu’s lead developer Shytoshi Kusama revealed plans to integrate SSI Self Sovereign Identity in all Shiba Inu projects. The upcoming announcement may most likely be based on the SSI integration.