BitMex co-founder Arthur Hayes expressed enthusiasm for the growing influence of “dog money” on the internet as Shiba Inu SHIB/USD opened early access to their new venture, SHIB Name.
What Happened: This comes in response to an announcement about early access to Shib Names, a new initiative within the Shiba Inu community.
Hayes posted, “F**k yeah. Dog money is taking over the internet.”
SHIB Names tokens, launched in partnership with DNS domain company D3 Inc., are aimed at helping members navigate the decentralized web space.
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The SHIB Names tokens include “hello*shib,” “legend*shib,” “420*shib,” “woof*shib,” “john*shib” and “lucy*shib.” These tokens have a star (*) instead of a dot (.), as they are limited to Web3 functionality currently. For a name to be considered a valid domain (and use the .), it needs approval from ICANN and requires DNS compatibility.
Why It Matters: The Shiba Inu token has seen a dramatic 90% surge in value, outperforming its peers and even leading cryptocurrencies like Bitcoin and Ethereum. This spike in value and social media chatter underscores the meme coin’s growing influence and potential for broader adoption.
Moreover, Shiba Inu’s lead developer, Shytoshi Kusama, has drawn parallels between the current excitement around Shiba Inu and the dot com era, suggesting a decentralized future powered by community support.
Image via Shutterstock
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