I haven't done it for a while (I've mostly just used 127.*), but I found the best one to use for dev purposes was the IETF-reserved `.test` TLD [0]. The main benefit at the time I was messing with this (10ish years ago now) was that all the browsers I needed to test on would actually attempt to resolve `.test`. If I remember correctly, firefox seemed to have issues with `localhost` being anything other than 127.0.0.1 (and would simply go to that address ignoring whatever was in /etc/hosts or DNS, again IIRC). It's been a while, though, so that behavior might have changed.
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