Several key developments appear to be helping the popular meme coin SHIB this week.

Shiba Inu (SHIB) token has surged 10% in the last seven days amid the developer team unveiling a new digital identity service for all its applications.

Core developers of the Shiba Inu ecosystem informed Decrypt that the developers are working to prioritize the inclusion of a Self-Sovereign Identity (SSI) into all its applications.

This includes applications in SHIB’s metaverse project and an upcoming layer-2 network Shibarium.

According to a lead developer of SHIB, the digital identity system will provide improved “security, privacy and fraud reduction” among other things.

SHIB is an ERC-20 meme coin launched on July 25, 2020, as a competitor to Dogecoin (DOGE) with Shiba Inu dog as its logo.

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Author: Nivesh Rustgi

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