The Shiba Inu team is making waves in the blockchain industry with their impressive $12 million funding round. This substantial investment will be used to advance the development of a groundbreaking layer-3 blockchain. The funding was obtained through the sale of the upcoming TREAT token and was secured from prominent non-US venture capital firms such as Polygon Ventures, Mechanism Capital, and Animoca Brands.
The highly successful fundraising round, which concluded recently after starting a few months ago, saw the project’s valuations soar to as high as $200 million. The TREAT token will serve a dual purpose within the Shiba Inu ecosystem, acting as both a utility and governance token for their innovative layer-3 blockchain.
What makes this advancement even more impressive is that it will be built on top of Shibarium, Shiba Inu’s existing layer-2 blockchain that operates on the Ethereum network. By adding this new layer-3 solution to their ecosystem, Shiba Inu further enhances the functionality and potential of their platform.
Despite these exciting developments, it’s important to note that the number of transactions on the Shiba Inu network has experienced a decline. Although this may raise concerns, it shouldn’t overshadow the overall impact the Shiba Inu ecosystem and its innovations can have on the market sentiment surrounding SHIB.
Furthermore, the recent network outage faced by Shiba Inu could also affect sentiment. While the core Shibarium network is now back online, some users may still encounter issues due to lingering problems. However, the diligent developers are actively working on a resolution and have called upon external teams to enhance communication, ensuring a smoother experience for all users.
Despite the challenges, the positive sentiment surrounding SHIB remains robust, with a significant number of positive comments outweighing the negative ones. Additionally, social media volume for SHIB has been on the rise, indicating a surge in popularity across various social platforms.
As of now, SHIB is trading at $0.0000272, with a recent price increase of 0.93% within the last 24 hours. However, it’s worth noting that the trading volume for SHIB has seen a decrease of 36.46% during the same period, highlighting the need for continued momentum and market participation.
With the substantial funding secured and the ongoing development of their layer-3 blockchain, Shiba Inu is poised to revolutionize the blockchain industry and potentially reshape the future of decentralized technologies. Exciting times lie ahead for the Shiba Inu community and investors alike. Stay tuned for more updates on this game-changing project.
Shiba Inu’s successful $12 million funding round is a significant milestone for the blockchain industry. This substantial investment will be used to advance the development of the platform’s layer-3 blockchain, which is built on top of their existing layer-2 Shibarium blockchain.
One advantage of Shiba Inu’s layered blockchain approach is that it enhances the functionality and potential of their platform. By adding a layer-3 solution, Shiba Inu can offer improved scalability, speed, and efficiency compared to traditional blockchain networks.
In terms of market trends, there is a growing interest in blockchain and decentralized technologies, with many investors looking for innovative projects like Shiba Inu. This increased interest is evidenced by the project’s valuation soaring to as high as $200 million during the recent funding round.
However, there are also some challenges and controversies associated with Shiba Inu. The number of transactions on the Shiba Inu network has experienced a decline, which may raise concerns about the platform’s adoption and use.
Additionally, the recent network outage faced by Shiba Inu could affect sentiment. Although the core Shibarium network is back online, some users may still encounter issues, leading to potential frustration and a negative perception of the platform. However, the developers are actively working on resolving these problems and improving communication with users.
It’s worth noting that the sentiment surrounding SHIB remains robust, with a significant number of positive comments outweighing the negative ones. Social media volume for SHIB has been on the rise, indicating growing popularity and engagement across various social platforms.
As for the price and trading volume of SHIB, it is currently trading at $0.0000272, with a recent price increase of 0.93% within the last 24 hours. However, the trading volume has seen a decrease of 36.46% during the same period, highlighting the need for continued momentum and market participation.
Overall, with the secured funding and the ongoing development of their layer-3 blockchain, Shiba Inu is well-positioned to revolutionize the blockchain industry. However, it will be important for the platform to overcome the challenges it currently faces, such as network stability and transaction volume, to fully realize its potential.
For more information on Shiba Inu and its developments, you can visit their official website at shibatoken.com.