On Tuesday, the Shiba Inu team reiterated in an official press release its commitment to innovation and community engagement as it announced its return as a title sponsor for ETHToronto. The event, slated for August 13-14, 2024, is a highlight of the Blockchain Futurist Conference and marks a significant week in Canada’s cryptocurrency and blockchain showcase.

Shiba Inu May Once Deliver A Major News

Last year, ETHToronto was pivotal for the Shiba Inu ecosystem with the launch of its Layer 2 solution, Shibarium, on the Ethereum blockchain. This network has since reported over 400 million transactions and is approaching a total of 4.5 million blocks—a testament to its scalability and the robust activity it supports.

In a strategic move last month, Shiba Inu secured a $12 million venture capital investment to further enhance Shibarium. The funds are earmarked for infrastructure improvements, with a strong focus on advancing security features and ensuring regulatory compliance. This initiative reflects Shiba Inu’s commitment to evolving into a fully autonomous blockchain and digital identity ecosystem.

Shiba Inu’s lead developer, Shytoshi Kusama, underscored the importance of ETHToronto to the project’s strategic dissemination of information. “ETHToronto has always been an important event for us when it comes to making news and outlining the steps on our roadmap to becoming the ultimate decentralization hub,” Kusama noted.

He further teased the anticipation of significant announcements at this year’s event, suggesting that major developments could be expected. “We look forward to returning to ETHToronto as a title sponsor and being extremely active during this year’s Canada Crypto Week.”

The event is not only a venue for technical revelations but also serves as a strategic platform for Shiba Inu to foster and announce new partnerships. Recent collaborations have seen Shiba Inu venture into new domains, establishing a .shib top-level domain service with D3. The SHIB team has also connected with major players in the media and entertainment industry, including the Content Delivery & Security Association (CDSA).

Notably, the Shiba Inu project team is also extending a special invitation to its community, offering preferential event tickets for the upcoming Canada Crypto Week to encourage participation and direct engagement with the platform’s developments. To secure one of the limited spots, SHIB community members need to sign up at a special subdomain (/shibarmy).

At press time, the SHIB price traded at $0.00001909, facing crucial resistance at the 200-day Exponential Moving Average (EMA). A daily close above this major indicator could signal a trend reversal for SHIB price.