A Memecoin No More, But A ‘Tech Powerhouse’

Shiba Inu is currently one of the top meme coins, with a market cap of $9.2 billion, trailing the other “top dog-themed coin,” Dogecoin. When meme coins pump, SHIB is one of the popular tokens that surge and dominate market activity.

For Shytoshi Kusama, Shiba Inu lead developer, their token must not be categorized under “meme coin” but as a “technology powerhouse.”

In a Twitter/X post shared last Tuesday, Kusama argued that Shiba Inu has transformed into a utility-driven crypto project and should no longer be listed under the meme coin category.

Shiba Inu: A Tech Powerhouse With Utility?

Kusama boldly claimed in a recent tweet to the crypto community that Shiba Inu now boasts an array of use cases and no longer belongs to the meme coin category.

For the developer, their token is now a technology powerhouse. Kusama’s pronouncements came when the project completed its collaboration with the United Arab Emirates. UAE’s Ministry of Energy and Infrastructure has agreed with SHIB to promote Web 3.0 solutions in energy, infrastructure, and other sectors.

According to a company release, the partnership taps into the crypto project’s extensive investment in Web 3.0. It aims to improve public service efficiency, governance models, and the promotion of green infrastructure.

The public disclosure also focused on the memecoin’s Operational System, which aims to streamline the Ministry of Energy and Infrastructure’s developments and projects.

Shiba Inu Gets Nod From UAE Official Over Collaboration

Shiba Inu’s team received praises from the undersecretary of the Energy and Petroleum Affairs, Sharif Al Olama. According to Al Olama, this recent collaboration with Shiba Inu will boost his country’s investment in innovative digital services. He also explained that the partnership is an essential milestone in the country’s efforts to reshape national services.

In a statement, the UAE government said it wants to lead the race in innovation. By partnering with Shiba Inu, it will be able to shape a great future anchored on sustainability, digital excellence, and connectivity.

Shiba Inu Now Boasts An Expanding Ecosystem

Shiba Inu has consistently expanded its use cases and ecosystem and now competes with other projects. The project boasts a multi-functional blockchain with AI-focused solutions, allowing users to easily move from Web 2.0 to 3.0.

Also, the project’s ecosystem now supports an L2 blockchain, plenty of NFT projects, Web 3.0 gaming, and a host of DeFi protocols, all backed by proprietary technology. According to Kusama, its partnership with UAE underscores the project’s commitment to supporting innovative tech solutions.

Featured image from Fortune, chart from TradingView