On Tuesday, the Shiba Inu team reiterated in an official statement Press release The company reiterated its commitment to innovation and community engagement by announcing its return as a presenting sponsor of ETHToronto. The event, scheduled for August 13-14, 2024, is a highlight of the Blockchain Futurist Conference and marks an important week in cryptocurrency and blockchain in Canada.
The Shiba Inu may one day herald major news
Last year, ETHToronto played a pivotal role for the Shiba Inu ecosystem with launch of its Layer 2 solutionShibarium, on the Ethereum blockchain. This network has since recorded over 400 million transactions and is approaching a total of 4.5 million blocks, which is a testament to its scalability and the robust activity it supports.
In a strategic move last month, Shiba Inu secure a $12 million venture investment to further enhance Shibarium. The funds are earmarked for infrastructure improvements, with a focus on enhancing security features and ensuring regulatory compliance. This initiative reflects Shiba Inu’s commitment to evolving into a fully autonomous blockchain and digital identity ecosystem.
Shiba Inu lead developer Shytoshi Kusama highlighted the importance of ETHToronto for the strategic dissemination of the project’s information. “ETHToronto has always been an important event for us when it comes to making news and defining the steps of our roadmap to become the ultimate decentralization hub,” Kusama noted.
He also spoke about the anticipation of major announcements at this year’s event, suggesting that major developments could be expected. “We look forward to returning to ETHToronto as a headline sponsor and being extremely active during this year’s Canadian Crypto Week.”
The event is not only a venue for technical reveals, but also serves as a strategic platform for Shiba Inu to foster and announce new partnerships. Recent collaborations have seen Shiba Inu venture into new areas, establishment a .shib top-level domain service with D3. The SHIB team has also established contacts with major players in the media and entertainment industry, including the Content Delivery & Security Association (CDSA).
The Shiba Inu project team has also extended a special invitation to its community, offering preferential tickets to the upcoming Canadian Crypto Week events to encourage participation and direct engagement with the platform’s developments. To secure one of the limited spots, members of the SHIB community must register on a special subdomain (/shibarmy).
At press time, SHIB price was trading at $0.00001909, facing crucial resistance at the 200-day exponential moving average (EMA). A daily close above this major indicator could signal a trend reversal for SHIB price.
Featured image from Shutterstock, chart from TradingView.com
