Shib Inu price jumps 7% as boxing legend Manny Pacquiao announces partnership with Shibarium
- Shiba Inu price has surged 7%, with the market steered by recent partnership with boxing star and politician Manny Pacquiao.
- Pacquiao Foundation will use Shibarium blockchain to optimize fundraising, distribution, and other operations.
- Shibarium will allow the non-profit to continue its humanitarian work while scaling up operations to help millions more.
Shiba Inu (SHIB) price has found strength after what had been a steep fall, hinging on a critical support from which it nurtures an uptrend. The tailwinds sprout from a recent announcement, serving as a bullish fundamenta developmentl for the meme cryptocurrency.
SHIB in Focus as Ex-Philippines Senator Manny Pacquiao Foundation Will Use #Shibarium https://t.co/FJ4lNeDPB6
— | ✨Shib.io✨ (@LucieSHIB) November 15, 2023
Also Read: Dogecoin, Shiba Inu and Bonk Open Interest spikes, outshining Bitcoin
Shiba Inu finds strength as Shibarium embraces Pacquiao Foundation
Shiba Inu (SHIB) price is up almost 10% in the last 24 hours, rising on the back of news that the Pacquiao Foundation, a non-profit led by former Philippine boxing heavyweight turned politician(Senator) Manny Pacquiao, will use Shibarium for its humanitarian works.
SHIB/USDT 1-day chart
The partnership, set to begin in Wednesday, November 22, will see Shibarium become an enabler to the foundation’s fundraising optimization and distribution, among other operations. The foundation’s hallmark is to help the needy, with millions of aid already issued out for people requiring urgent support. Commenting on the matter, Manny Pacquiao Foundation Executive Director Jon Sisson told CoinDesk:
Shibarium will allow us to continue this good work while scaling up operations to help millions more.
While the partnership is only starting, the foundation has been accepting SHIB donations, with the history going back two years, since 2021.
Boxing Legend Manny Pacquiao announces partnership with Shiba Inu. $SHIB #Shibarium pic.twitter.com/1ifGHgqLPI
— Altcoin Daily (@AltcoinDailyio) November 15, 2023
It should be noted that Shibarium, a Layer 2 (L2) blockchain built atop Ethereum, makes it possible for users to transact on the network at affordable rates. It is faster with reduced bottlenecks, a typical characteristic of an L2 network, which are off-chain applications built on top of a ‘base’ blockchain.
Shiba Inu doubles down on partnerships
It comes only weeks after the launch of SHIB Name Service (SNS) on Shibarium as reported on November 1. This feature, or service rather, went live on November 1, allowing users to personalize their names and control their identity on Shibarium. It marked a watershed moment for the community, facilitating secure names, rather than complex addresses like 0xCD4(...).
Shortly after, the ecosystem’s marketing specialist Lucie indicated that the Japan SBI VC had invited Japanese cryptocurrency community members to commemorate Kabo-chan’s birthday on November 2.
Japan SBI VC Trade Makes Special Shiba Inu Announcement https://t.co/WB23bnmIRD
— | ✨Shib.io✨ (@LucieSHIB) November 2, 2023
Kabo-chan is a famous internet sensation renowned for inspiring the Shiba Inu and Dogecoin (DOGE).
Author
Lockridge Okoth
FXStreet
Lockridge is a believer in the transformative power of crypto and the blockchain industry.
