The Shiba Inu (SHIB) network was started as a meme coin but things could be changing as building utility is its primary goal now. The meme coin has been called a mere joke but its latest partnership with the United Arab Emirates (UAE) government could be a game changer. Despite being fairly new to the ecosystem, SHIB has clearly landed a monumental partnership. However, the real question is whether this collaboration has impacted the price of SHIB in a good way.

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Diving Into UAE’s Latest Partnership

Shiba Inu in uae
Source: Watcher Guru

Shiba Inu and the Ministry of Energy and Infrastructure (MOEI) of the UAE have partnered to incorporate Shiba Inu’s Operating System (ShibOS) into government activities. The goal of this partnership is to improve Web3 solutions in a number of industries, such as infrastructure and energy. In addition, the Shiba Inu team revealed that this is the first time a global government has implemented blockchain technology at the federal level.

The UAE’s Blockchain Strategy seeks to save over $3 billion in transaction and document processing expenses by moving 50% of all government transactions to blockchain technology. Speaking about the same, Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI said,

“We’re delighted to deepen our commitment to cutting-edge digital services. This partnership represents a pivotal moment in our journey toward redefining government services.”

The Shiba Inu network has partnered up with several platforms in the past. But the magnitude of its latest deal is notable. While the community believed that SHIB could witness a massive spike in its price, the asset exhibited volatility.

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Shiba Inu’s Short-Lived Rally

Just last week Shiba Inu’s lead developer Shytoshi Kusama hinted at a major partnership that kept the community members on their feet. After the announcement, SHIB was expected to record a massive uptick. But the meme coin surged to a high of $0.00001647. The lowest that the asset was trading at during the same day was $0.00001511. At the time of writing, Shiba Inu was trading at $0.00001592 with a 2.12% drop over the past 24 hours.

Source: CoinMarketCap

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