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Shiba Inu Earns Recognition For Charitable Contributions – Impact On Price

Source Newsbtc

Shiba Inu (SHIB) was announced by a prominent crypto personality as the most donated meme coin as these type of coins continue to grow in importance for charitable causes. This kind of recognition shows how these digital assets can benefit communities and gain business traction.

Shiba Inu: On Praise & Performance

Meme coin projects have earned praise from Ethereum co-founder Vitalik Buterin for donating a percentage of their token supply to charity. He thanked the projects and efforts dedicated to this cause in a post on X. Some “meme coins” were used as examples, including “ebull,” among well-known cryptocurrencies contributing to various charities.

I appreciate all the memecoins that donate portions of their supply directly to charity.

(eg. I saw ebull sent a bunch to various groups last month)

Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease…

— vitalik.eth (@VitalikButerin) October 7, 2024

Support & Dedication

Based on comments made by Buterin, Shiba Inu community members have claimed that among meme coins, SHIB leads in charity gifts. According to crypto expert Del Crxpto, no other meme coin can even emulate Shiba Inu’s level of philanthropy. For example, several donations, including to the recent Seungil Hope Foundation in Seoul, Korea which supports the country’s first specialized ALS hospital, reflect this growing dedication to giving.

$SHIB is #1 in this regard…

No one else comes close. https://t.co/PgnMvn8PYx

— Del Crxpto (@DelCrxpto) October 7, 2024

Analyst Sees SHIB Uptrend

In related news, with good breakout and backtest signs in the very vibrant meme coin space, technical analyst Charting Guy has predicted a possible price spike for Shiba Inu. The market of meme coin prospers today; some of them are reaching all-time highs, while others display solid price rise.

$SHIB

breakout

backtest

full send loading.. https://t.co/6EaZJlT0sD pic.twitter.com/9yZVVyeIM4

— Charting Guy (@ChartingGuy) October 7, 2024

Meme Coin In Negative Region

Shiba Inu was up 3.34% at the time of writing, trading at $0.00001793, but the weekly performance remained in negative territory cumulatively.

Charting Guy thinks the dog-themed meme coin is likely to have a major price pump even if the price action has been disappointing lately. Shiba Inu is in the last waiting period, he pointed out, and expected to show a significant upside.

Featured image from United Mission for Relief & Development, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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