Shiba Inu Ecosystem Scores Partnership With Boxing Legend Pacquiao's Foundation: 'Will Allow Us To Continue This Good Work'
Portfolio Pulse from Mehab Qureshi
The Shiba Inu ecosystem Shibarium has partnered with the Manny Pacquiao Foundation to aid in fundraising and operations. Shibarium, a layer 2 blockchain built on Ethereum, offers faster and cheaper transactions, which could benefit the foundation's charitable activities. Despite initial launch issues, Shibarium is processing thousands of transactions daily. SHIB, the ecosystem's token, has seen a 4.70% increase in the last 24 hours.
November 16, 2023 | 4:09 am
News sentiment analysis
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POSITIVE IMPACT
Ethereum may see indirect benefits from Shibarium's use for charitable activities, as Shibarium is built on the Ethereum blockchain, potentially leading to increased network activity.
While the news is primarily about Shibarium and SHIB, Ethereum stands to benefit indirectly from increased usage of its layer 2 solutions, which could lead to a positive impact on ETH's price.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Shiba Inu's SHIB token is likely to experience positive sentiment due to the partnership with the Manny Pacquiao Foundation, which could increase its visibility and utility.
The partnership with a high-profile foundation could lead to increased demand for SHIB as it gains more utility and exposure, which may positively impact its price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80