TL;DR
SHIB’s price surged by 8% on a 24-hour scale as the meme coin partnered with the UAE’s Ministry of Energy and Infrastructure.
Shibarium blasted through another major milestone, which could also be interpreted as a bullish element.
The Main Factor
The cryptocurrency market experienced severe turbulence in the past few days, largely caused by Donald Trump’s trade war with China, Mexico, and Canada. In the last 24 hours, most leading digital assets consolidated or charted minor losses, but this was not the case with Shiba Inu (SHIB).
The price of the popular meme coin increased by 8% during that timeframe, currently trading at around $0.0000164 (per CoinGecko’s data). Its market capitalization jumped above $9.5 billion, and thus, SHIB re-entered crypto’s top 20 club.
SHIB Price, Source: CoinGecko
Perhaps the most apparent reason fueling the rally is Shiba Inu’s partnership with the Ministry of Energy and Infrastructure of the United Arab Emirates. The team behind the me
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