2024-04-23 06:06:05
- The Shiba Inu team raised $12 million to create a new tier 3 blockchain.
- Despite the events, overall activity on the network declined.
he Shiba Inu [SHIB] The team has received $12 million to advance the development of a new tier 3 blockchain.
Team Shiba makes a new move
The Shiba Inu team has reportedly made significant progress towards a new Tier 3 blockchain with a successful $12 million fundraising round.
The funding, raised through the upcoming sale of its TREAT token, comes from non-US venture capital firms, including Polagán Ventures, Mechanism Capital and Animoca Brands.
The fundraising, which began a few months ago and concluded earlier this month, has reportedly reached valuations of $200 million.
The TREAT token itself will serve a dual purpose within the Shiba Inu ecosystem, acting as a utility and governance token for its new layer 3 blockchain.
In particular, this new layer 3 solution will be built on top of Shibarium, an existing layer 2 blockchain Shiba Inu built on top of Ethereum.
The addition to the ecosystem complements the three existing tokens of SHIB, BONE, and LEASH. Each sign has a different role within the network, and LEASH offers exclusive benefits to the most loyal Shiba Inu followers.
Despite these developments, the number of transactions on the Shiba Inu network decreased significantly. The prosperity of the Shiba Inu ecosystem may affect sentiment around SHIB in the future.
Another factor that could affect the sentiment around Shiba Inu is the recent outage on their network. Although the Shibarium mainnet is back online, some users may still experience problems due to ongoing problems with external validators and services.
The developers are actively working to resolve the issue and have asked external teams to improve communication for a smoother resolution.
Source: X
Social media hype
Despite these issues, sentiment towards SHIB remained high, indicating that positive views about SHIB outweighed negative ones.
File SHIB Price Forecast 2024-25
In addition, SHIB’s social numbers also increased, suggesting an increase in demand in all social areas. At the time of publication, SHIB was trading at $0.0000272 and its price had risen by 0.93% in the last 24 hours.
However, the volume at which SHIB was trading fell by 36.46% during the same period.
Source: Sentiment
This is an automatic translation of our English version.
#Shiba #Inus #Million #Gambling #Heres #Means #SHIB #Owners