YEREVAN (CoinChapter.com) — The Manny Pacquiao Foundation (MPF), headed by the renowned boxer and entrepreneur Manny Pacquiao, has formed a partnership with the cryptocurrency Shiba Inu (SHIB). This collaboration aims to enhance fundraising activities, improve distribution, and optimize various operational facets.
Manny Pacquiao Foundation (MPF) Adopts Shiba Inu
The Foundation claims that the SHIB adoption will augment internal processes and provide “greater transparency” for external stakeholders regarding the foundation’s worldwide humanitarian initiatives.
Shytoshi Kusama, the Lead Developer of Shiba Inu, expressed enthusiasm about the partnership and SHIB’s status in the Pacquiao Foundation.
[We are] flattered that a charitable organization with the scale and social conscience of The Manny Pacquiao Foundation has chosen Shibarium for its most significant foray into blockchain yet.
Shytoshi said.
Jon Sisson, Executive Director of MPF, said Shibarium will join them to help “millions” of people.
The Pacquiao Foundation is dedicated to fighting for those in need around the world and has already done so for more than a million people requiring urgent assistance. Shibarium will allow us to continue this good work while scaling up operations to help millions more.
he said.
Notably, the Foundation has accepted SHIB donations since 2021 and collaborates with other crypto-related organizations, like Binance Charity and the Jack Ma Foundation.
SHIB price jumps 7%
SHIB price jumped 7% on Nov 15 to $0.00000857, bringing its gains to 30% in the previous month. Notably, the coin rallied due to the overall rise in the crypto sector following Grayscale’s re-filed application for a spot Bitcoin ETF. But the Manny Pacquiao news likely caused the Nov 15 uptick, considering Bitcoin’s 3% intraday slide.
However, judging by the 17% drop in trading volumes, the Shiba Inu bulls might not be prepared for another leg up. Additionally, the network’s 7-day and 30-day active wallets have dropped since July, backing the bearish assumption.
If a drop occurs, a likely SHIB target would be $0.0000762, or 11% lower than the current value. However, as of 13:00 UTC, the token held support at $0.00000832.
