Shiba Inu Announces New Collaboration To “Take SHIB To The Next Level”

TL;DR

Shiba Inu teamed up with Mass Finance to enhance its ecosystem with AI-powered legal and tax solutions. The partnership aligns with SHIB’s 4% weekly price increase, supported by market revival and increased token burn. The last association

The meme coin project joined hands with the AI-powered platform Mass Finance, which aims to simplify business setup and growth, especially for startups, funds and incubators. It offers legal, tax and banking tools on one platform, including automated onboarding and AI-related assistance for financial and operational tasks, supporting both Web2 and Web3 entities.

The team behind Shiba Inu stated that Mass Finance “is poised to be the state of Shiba with AI-powered legal and tax solutions, supported by Stripe and others.”

“Together, we’re taking Shib to the next level,” he concluded.

Previously, Mass Finance partnered with payments giant Stripe to handle money transmission services and account management. The latter provides the necessary infrastructure, while funds are held at Evolve Bank & Trust, ensuring compliance with financial regulations and secure transactions for mass users.

This isn’t the only deal Shiba Inu has signed in 2024. In September, it partnered with open source crypto company Zama to improve the capability of Shibarium (the coin’s Layer 2 blockchain solution meme).

“A crucial component of this evolution is fully homomorphic encryption (FHE), an innovative technology that allows cryptographic transactions to occur on the blockchain while keeping sensitive data, such as financial information and NFT identities, completely hidden ,” the release says.

SHIB price reaction?

The aforementioned association coincides with the resurgence of the price of the meme coin. It is currently trading around $0.00001808, or up 4% on a weekly basis.

SHIB Price, Source: CoinGecko

It is worth mentioning that SHIB’s rally could be attributed to several other factors, including a global revival in the crypto market, the explosion of Shiba Inu’s burn rate in the last seven days, and the decrease in net exchange flow (indicating a reduction in immediate selling pressure). ).

SHIB currently has a market cap of over $10.6 billion, making it the second largest meme coin (behind Dogecoin) and the 15th largest in the entire industry. According to IntoTheBlock, 54% of all holders are now sitting on some paper profits, while 43% remain underwater.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!