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Shiba Inu shows signs of rally following partnership with UAE to integrate blockchain into its energy sector

  • Shiba Inu announced a partnership with the UAE's government to drive digital transformation across energy and infrastructure.
  • The partnership marks the first time a world government is integrating blockchain at a federal level, claims the Shiba Inu team.
  • SHIB is showing signs of a rally following the announcement.
Shiba Inu shows signs of rally following partnership with UAE to integrate blockchain into its energy sector
Michael EbiekutanMichael EbiekutanFXStreet

Shiba Inu (SHIB) saw slight gains on Tuesday following its partnership with the United Arab Emirates (UAE) Ministry of Energy and Infrastructure (MOEI) to drive next-generation Web3 solutions in energy and infrastructure across the country.

SHIB marks minor gains as partnership with UAE kicks off

Shiba Inu revealed its partnership with the UAE's MOEI arm to boost innovation and transformation across energy and infrastructure in the country. 

Leveraging Shiba Inu's extensive Web3 technologies, the partnership aims to integrate Shiba Inu's Operating System (ShibOS) to unify development across MoEI operations. 

This initiative marks a significant step in the evolution of Web3 applications within government services.

"We're delighted to deepen our commitment to cutting-edge digital services. This partnership represents a pivotal moment in our journey toward redefining government services," said Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, in a press release.

The Shiba Inu team also claims that the move is the first time a world government is integrating blockchain technology at a federal level.

The partnership also shows the increasing interest in digital assets among governments, with more nations now embracing the possibilities of decentralized technology.

Shiba Inu lead developer Shytoshi Kusama hinted about the partnership last week on X, suggesting it is among the "most powerful partnerships in Web3."

SHIB began showing signs of a rally, marking slight gains of 1% following the announcement.

SHIB has been in a downtrend since the start of the year, losing over 30% of its value in the past month, according to CoinGecko data.

However, the token showed signs of a potential rebound after the recent announcement, posting slight gains.

Historically, SHIB's price has benefited from strategic partnerships, such as the collaboration with Chainlink in December and a previous partnership with Zama.

As a result, the new collaboration in the Arab market could boost the price of the meme coin.

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Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi

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