- Speculation grows over the UAE launching a crypto reserve featuring Shiba Inu, though no official confirmation has been made.
- SHIB remains under selling pressure despite rebounding from a key support level, with potential for further gains if momentum holds.
Crypto analyst Del Crxpto recently predicted that the United Arab Emirates (UAE) will establish a digital asset reserve with a significant portion of it in Shiba Inu (SHIB). The prediction created a lot of discussion in the crypto market, especially with the UAE’s ongoing collaboration with the Shiba Inu network.
Prediction:
UAE 🇦🇪 Will Announce A Crypto Reserve, It Will Hold Massive Amounts Of $SHIB.
— Del Crxpto (@DelCrxpto) March 8, 2025
Earlier in the year, the UAE Ministry of Energy and Infrastructure (MoEI) partnered with Shiba Inu to implement its blockchain-based operating system, ShibOS, in government operations.
This was the very first time a federal government used blockchain technology at such a scale. ShibOS aims to promote the improvement of governance, infrastructure, and public services by leveraging the technology of Web3.
The UAE is already a digital transformation leader, with its regulatory framework conducive to the growth of crypto-based projects.
However, in the midst of growing speculation, the government made no official announcements regarding the establishment of a crypto reserve. The transparent regulatory environment, including the Dubai Virtual Asset Regulatory Authority (VARA), has made it a global destination for blockchain and cryptocurrency initiatives.
Can Real-World Use Cases Drive SHIB’s Price Higher?
Shiba Inu remains in the limelight in the crypto community with different experts in the industry analyzing its future. Crypto analyst Davinci Jeremie recently opined about the future of SHIB, acknowledging its technical strength while expressing concerns about its adoption in the present.
Shiba Inu to the Moon!! 2025 🚀🤑
Shiba Inu has huge potential, but Shibarium could be the key to its future. pic.twitter.com/YgMD84a3I5
— Davinci Jeremie (@Davincij15) March 7, 2025
In the view of Jeremie, the Shibarium release, which is the Shiba Inu Layer-2 blockchain, introduced inexpensive transactions along with the ability to deploy decentralized applications to the users. However, he underscored the lack of real-world applications for fueling adoption.
He believed that if the ecosystem team could onboard real-world applications to Shibarium, which utilizes SHIB for payment, its price could see a sharp rise.
To promote adoption, the Shiba Inu team has partnered with leading blockchain projects including Chainlink and K9 Finance DAO. By integrating the Cross-Chain Interoperability Protocol (CCIP) of Chainlink, Shibarium aims to make its tokens more accessible in the network, including SHIB, BONE, LEASH, and TREAT.
Big Win for K9 Finance: $200K Google for Startups Grant!
Some massive news for the K9 Finance community – we’ve been awarded a $200,000 grant from Google for Startups!
What This Means for K9
Google is covering $200K worth of cloud services, which means our development team now… pic.twitter.com/SVLnIdb0D6— K9 Finance DAO (@K9finance) February 26, 2025
They indicate there are efforts towards enhancing the token’s utility, which can have a positive effect on its long-term performance.
Shiba Inu Faces Bearish Pressure but Holds Crucial Support
Despite the increasing popularity of Shiba Inu, its market performance has been under pressure. SHIB stands at $0.00001232, which is a decline of 13.7% over the last week and a decline of 21% over the last month. SHIB declined by 63% over the last year, showing persistent bearishness.
However, the token recently rebounded off a strong support level at about $0.000011, which the traders have been closely watching. The market reaction is suggestive of the chances of the support level prevailing, leading to a relief rally in the short term.
In the last 24 hours, SHIB jumped by 8%, beating Dogecoin by a narrow margin, which is suggestive of a likely shift in the trend direction.
If the buying pressure sustains, SHIB can target the next key resistance at $0.000017. The price level is considered a critical level for determining if the token will be able to sustain its bullish trend.