- Zama’s CEO envisions integrating FHE into all Internet, blockchain and AI applications, starting with Shiba Inu integration.
- Despite community enthusiasm and strategic progress, SHIB’s market performance contrasts with speculative expectations, trading in the red.
Shiba Inu’s recent partnership with crypto service provider Zama has sparked a great deal of interest, in line with the cryptocurrency’s remarkable rise to 11th in the global market capitalization rankings, accompanied by an impressive monthly increase of nearly 150%. Despite thefact that these achievements have sparked enthusiasm among investors and cryptocurrency traders, the price of SHIB has experienced opposite trends.
Working towards httpz. A future where we have end-to-end encryption by default in everything, and for everyone, thanks to Fully Homomorphic Encryption.#FHE #Cryptography #Privacy pic.twitter.com/xWWzxAwlZC
— Zama (@zama_fhe) March 19, 2024
Kaal Dhairya, in a March 20 post on X, amplified the excitement around Zama’s integration into the Shiba Inu ecosystem, quoting Zama CEO Rand Hindi. Hindi’s vision for Zama involves integrating its fully homomorphic encryption (FHE) technologies into Internet, blockchain and AI applications, starting with Shiba Inu. This move, Hindi suggests, is similar to the evolution of the web from HTTP to HTTPS, hinting at a future shift to an even more secure “HTTPZ”
Despite the buzz generated by this announcement in the Shiba Inu community, echoed by lead developer Shytoshi Kusama, SHIB’s market performance has not reflected the community’s evolution, and the token is trading in the red. This discrepancy has fueled speculation among both incumbents and market analysts.
Derivatives market data also shows a decline in open interest and trading volume for Shiba Inu, indicating bearish sentiment amid market fluctuations. However, with the cryptocurrency sector preparing for the upcoming halving of Bitcoin’s per-block reward, a potential market rally is anticipated that could lift altcoins, including SHIB.
We checked out an interesting fact that I think needs to be told to everyone.
Since the LP is burned, the handling fee earned in the burning address is here:https://t.co/g8QzmhvZpC$DAMN and $BONE are both burned.???
— WOOF | ve33 DEX on Shibarium? (@woofswap) March 20, 2024
Community efforts, such as token burning campaigns and promotion of LUCIE token accumulation, bolster confidence in SHIB’s long-term prospects .
Bought the DIP ??
My lovely $SHIBIf someone can pull miracle recovery it’s $SHIB
I’m expecting ATH soon before or shortly after BTC halving
nfa pic.twitter.com/lOXoHgHWUl— ????? | SHIB.IO ????? (@LucieSHIB) March 20, 2024
These initiatives foster a long-term strategic investment mindset, persuading the community to be inclined to hold on to its assets in anticipation of future gains.
