The price of Shiba Inu has experienced a notable increase of 7% due to the influence of a recent collaboration with Manny Pacquiao, a prominent figure in both the boxing and political realms.
The Pacquiao Foundation intends to leverage the capabilities of the Shibarium blockchain in order to enhance the efficiency and effectiveness of its fundraising, distribution, and various operational processes.
The implementation of Shibarium will enable the non-profit organization to sustain its humanitarian endeavors while expanding its operations to provide assistance to a far larger population.
The price of $SHIB has demonstrated resilience following a significant decline, relying on a crucial support level to sustain an upward trend. The emergence of tailwinds may be attributed to a recent statement, which has provided a positive and fundamental development for the meme cryptocurrency.
The Shiba Inu breed has experienced a surge in popularity because to its association with the Shibarium, a platform that has recently embraced the Pacquiao Foundation.
The price of Shiba Inu (SHIB) has experienced an almost 10% increase during the past 24 hours. This surge can be attributed to recent developments indicating that the Pacquiao Foundation, a non-profit organization founded by Manny Pacquiao, a former Philippine boxing heavyweight who has transitioned into a political career as a Senator, would be utilizing Shibarium for its philanthropic endeavors.
The collaboration, scheduled to commence on Wednesday, November 22, will involve Shibarium facilitating the foundation's efforts in enhancing fundraising optimization and distribution, along with other operational activities. The primary objective of the foundation is to provide assistance to individuals in need, as evidenced by the substantial allocation of millions of dollars in aid to those who are in urgent need of support. In response to the issue, Jon Sisson, the Executive Director of the Manny Pacquiao Foundation, expressed his views to CoinDesk.
The implementation of Shibarium will enable us to sustain our current efforts while expanding our operations to provide assistance to a far larger population.
Although the collaboration is in its nascent stage, the foundation has been taking donations in SHIB, a cryptocurrency, with a historical record spanning two years, commencing from 2021.
It is important to acknowledge that #Shibarium , an Ethereum-based Layer 2 (L2) blockchain, enables users to engage in transactions on the network at cost-effective prices. The speed of L2 networks is enhanced by minimizing bottlenecks, which is a common attribute of off-chain applications developed on a foundational blockchain.
The Shiba Inu cryptocurrency demonstrates a heightened commitment to forming strategic alliances.
The aforementioned event occurred a few weeks subsequent to the initiation of SHIB Name Service (SNS) on Shibarium, as documented on November 1st. The aforementioned feature, or service to be more precise, was launched on November 1st, enabling users to customize their names and exercise authority over their identity on Shibarium. This event was a significant turning point for the community, since it enabled the use of secure names instead than intricate addresses such as 0xCD4(...).
Subsequently, Lucie, the marketing expert of the ecosystem, conveyed that the Japan SBI VC had extended an invitation to members of the Japanese cryptocurrency community to observe the commemoration of Kabo-chan's birthday on November 2nd.
#ShibaInuUpdate #ShibaInuRevolution
Kabo-chan is well recognized as a prominent figure in the online realm, having garnered significant attention for his influential impact on the Shiba Inu breed and the cryptocurrency known as Dogecoin (DOGE).
