Amidst a flurry of advancements witnessed across the Shiba Inu ecosystem recently, the meme coin’s price rallied over 20% today, February 29, piquing the interests of crypto market enthusiasts across the globe. Concerning this, Shiba Inu’s lead developer, Shytoshi Kusama, shared a post on X, garnering noteworthy attention as the developer spotlighted a vital partnership for the meme coin. With the partnership, the Shiba crypto community is eyeing revolutionized encryption and privacy across its ecosystem. Meanwhile, the developer also shed light on the latest version of The Shib magazine, birthing further bullish thoughts on the Shiba Inu token.

A Closer Look Into Kusama’s Post & The Shib Magazine

Shytoshi Kusama’s latest post on X claimed the latest partnership to be a noteworthy one for the Shiba Inu community, addressing the crucial necessity of maintaining top-notch encryption and privacy within the Shiba Inu ecosystem. Aligning with this, Kusama drew attention to a merger with Zama, a cryptography company fostering FHE (Fully Homomorphic Encryption) solutions for blockchain and AI. The community aims to establish an impenetrable cloak of encryption for transactions on their blockchain with the abovementioned partnership.

Our latest partnershib is a BIG one. Pay close attention to why Encryption and Privacy are important to the Shib Ecosystem and state! #SHIB #Zama #FHE https://t.co/ZFoJaRJpJE

— Shytoshi Kusama (@ShytoshiKusama) February 28, 2024

Furthermore, with The Shib magazine’s latest edition’s emergence in Kusama’s post, a plethora of new features looming over Shiba Inu’s crypto horizon propelled additional curiosity among traders and investors across the crypto realm.

The community offered the first 3000 users a chance to claim the fourteenth cover NFT for free. Meanwhile, the much-awaited name tokens, falling in line with D3 Inc.’s merger, are all set to be revealed on March 5.

In addition, the imminent launch of KNINE, mirroring K9 Finance’s partnership, catapulted market optimism for Shiba Inu. A merger with Tangem, a crypto wallet services platform, also nabbed attention, emerging in The Shib magazine. According to the community, Tangem has commenced integrating Shibarium, Shiba Inu’s L2, eyeing revolutionized security and greater scalability for the L2. Notably, Sharbi’s FETCH bridge, facilitating seamless bridging on Shibarium, Arbitrum, and Ethereum, surfaced in The Shib’s latest edition, birthing additional bullish thoughts.

These developments collectively, among many others listed on The Shib, seem to be propelling immense optimism for the Shiba Inu token, as also seen by the phenomenal pump witnessed by SHIB today.

Also Read: Bitcoin ETF Trading Volumes Double At $6 Billion, $70,000 BTC Price Coming?

Shiba Inu Price Soars

As of writing, the Shiba Inu price noted a phenomenal rally of 21.54% over the past 24 hours and is currently trading at $0.00001321. The meme coin’s market cap and 24-hour trading also surged remarkably, noting a jump of 20.99% and 66.60% as of press time.

This phenomenal rally appears to come due to the recent storm of breakthroughs marked by the Shiba Inu crypto community, including the recent SHEboshi launch. Coinglass‘ data further hinted at an uptrend for the meme coin in the market, aligning with SHIB’s pump. The open interest soared a substantial 25.96%, whereas volume rocketed 127.11%.

Also Read: Bitcoin (BTC) Price Faces Rejection At $64,000 As US Govt. Moves $1 Billion in BTC

The post Shiba Inu Rallies Over 20% As Shytoshi Kusama Spotlights Key Partnership appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am