The United Arab Emirates (UAE), commonly recognized as a frontrunner in the fintech industry, could be considering a crypto-based strategic reserve fund. Taking inspiration from the United States (USA), the preliminary talks surfacing around social media suggest the likelihood of Shiba Inuโs (SHIB) inclusion in the UAE mixed crypto reserve, for a solid reason.
Shiba Inu Finding Home In UAE’s Crypto Reserve?
The developers behind Shiba Inuโs ecosystem have previously worked together with the United Arab Emirates (UAE) government on a federal level. To be precise, the UAE officials picked Shiba Inuโs Operational System (ShibOS) out for their quest to advance digital transformation.
Last month, the deal between UAE and Shiba Inu crypto was solidified in a public press release. The rare acknowledgement of a popular meme coin as advanced technology from the globeโs top crypto hub Dubai even persuaded a popular crypto pundit to make a bold Shiba Inu (SHIB) prediction.
Sponsored
Del Crxpto tweeted to his 86.3K followers a prediction that โUAE Will Announce A Crypto Reserve, It Will Hold Massive Amounts Of $SHIB.โ. Without digging into an approximate timeline or providing any sources, Shiba Inuโs (SHIB) inclusion in the UAE crypto reserve remains on a rumor level, as UAE government is yet to make a statement.
Certainly, Shiba Inuโs ShibOS has a flurry of perks to offer Web3 dwellers, including the SHIB Alpha Layer, which is a modular roll-up abstraction layer for mega-fast transfers. According to SHIB.io, Shiba Inuโs Alpha Layer can score up to 100ms finality, while offering a high-end security solution to protect online identity.
This is done via the Fully Homomorphic Encryption (FHE), a multi-layered digital identity shield. Last year, Shiba Inu crypto developers dropped a bombshell by announcing a Layer-3 blockchain in the works, which would succeed the current Shibarium Layer-2.
As of now, the main token of the ecosystem, Shiba Inu crypto (SHIB) is switching hands at $$0.00001222, registering slight gains of 3.3% over the past 24 hours. However, the ongoing momentum is still looking dim for Shiba Inuโs price, as the 21.5% monthly pullback crunched over $2 billion of SHIBโs market capitalization in 30 days.
On The Flipside
- Unprecedented government-level acknowledgment for Shiba Inu comes at a time when the meme coin hit new yearly lows, completely wiping out December 2024 gains as Bitcoin falters below $78K.
- Big dogs in the memecoin sector are seeing fierce competition, as the crypto landscape has shifted towards easier project launch and better accessibility, while traders are hungry for immediate gains.
Why This Matters
Institutional level acknowledgment for meme currencies is uncommon in crypto, while Shiba Inuโs addition to the UAE national strategic digital asset reserve would be the first of its kind.
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