Shiba Inu (SHIB), a meme-based cryptocurrency known for its volatile price swings and vibrant community, is establishing a significant foothold in Canada. The cryptocurrency's community has recently announced a significant partnership with Welly, a unique fast-food chain.
The SHIB team declared on social media that it is heading to Toronto, Canada, in collaboration with Welly. The duo will participate in the Blockchain Futurist event. This occurrence is sure to draw attention, given the influential partners and the ongoing wave of popularity Shiba Inu enjoys.
Welly, a fast-food chain unlike any other, operates with the backing of its dedicated community. The company's unique business model enables it to expand globally through community support, through those who hold the official Welly NFT collection. NFT holders are rewarded as if they hold an investment. Moreover, community members can franchise Welly locations to boost the business's growth and subsequently increase rewards for NFT holders.
The Shiba Inu community is going to join forces with Welly for the upcoming event. From Aug. 14 to 16, the partners will be present at the #ETHToronto event. This collaboration promises to offer an extraordinary networking platform for Shiba Inu, facilitating it to reach a broader audience and potential investors.
As for the recent price performance, Shiba Inu has been holding above the local resistance level at approximately $0.000008. Despite a market reversal, SHIB managed to maintain the price level it reached after the surge triggered by favorable court decisions in favor of XRP. Different cryptocurrencies across the market have not shown the same dynamic, leading to questions about the long-term run of Shiba Inu.
However, SHIB, lacking in fundamental inflows and use cases, continues to grapple with market fluctuations. The current partnership announcement with Welly may act as a propelling factor, strengthening the token's position on the market and offering potential growth stimuli.