Why Shiba Inu Was Zooming Higher Today
Ever-volatile meme token Shiba Inu (CRYPTO: SHIB) experienced an upward swing in price on Thursday. Over the preceding 24 hours from mid-afternoon that day, the cryptocurrency had gained in excess of 4% in value. A new product announcement was the main catalyst for the rally.
In a post on its official blog, Shiba Inu's developer revealed it was working on said product, Shibacals. This is a platform in which users can digitally authenticate physical items. Shibacals will be part of the Shibarium, the level 2 blockchain currently being developed by the Shiba Inu team.
Authentication will be effected in the "real" world by the use of a near field communication (NFC) chip. This technology also has the potential to be leveraged for other purposes, according to the Shiba Inu collective.
Source Fool.com
