Shiba Inu, one of the most popular dog-based meme cryptocurrencies, recently unveiled the latest version of its magazine, ‘The Shib,’ spotlighting a plethora of cryptographic developments. The magazine, released today, April 24, draws vital attention to the ecosystem’s WOOF, TREAT, and Layer 3 developmental endeavors.
Recently, the announcement of “The Shib” event gave investors reason to be optimistic about Shiba Inu, causing a surge of expectation for an increase in SHIB token price. However, this positive sentiment was countered by the overall market downturn, resulting in Shiba Inu trading at lower prices today.
Let’s examine The Shib Magazine’s most recent issue and explore why it sparked global investor enthusiasm, even as SHIB experienced a downturn.
The Shib’s Newest Edition: A Closer Look
Based on the information provided in the most recent issue of The Shibla magazine, Shiba Inu has made notable advances in the past few days with a main goal of transforming its meme coin community.
Significantly, SHIB, the meme token modeled after dogs, raised an impressive $12 million in investment from prominent firms. Among these backers were Mechanism Capital, Big Brain Holdings, Cypher Capital, Shima Capital, DWF Ventures, Morningstar Ventures, Hercules Ventures, and Animoca Brands, demonstrating the investors’ belief in SHIB’s forthcoming projects.
At the same time, clues about a potential Layer 3 blockchain from Shiba Inu in the publication sparked excitement among crypto investors. Through their partnership with Zama, it seems that an FHE (Fully Homomorphic Encryption) blockchain is under development. This innovative step by Shiba Inu aims to provide users with unmatched network scalability, enabling high-transaction volumes and smoothly running intricate applications.
The magazine additionally noted that the upcoming L3 version of Shiba Inu will employ TREAT as its governing and utility token, much like how BONE functions in Shibarium, Shiba Inu’s Layer-2 platform. This revelation has sparked a wave of positive excitement for Shiba Inu, even amidst its current downward trading trend.
Shiba Inu Price Slips
Currently, the cost of one Shiba Inu token is $0.00002505, which represents an 8.32% decrease in value over the last 24 hours. This price drop has generated discussions within the crypto community due to its contrast with recent progress made on the Shiba Inu project.
In Q1, SHIB‘s native token and companion tokens, LEASH and BONE, experienced significant growth. This progress was noteworthy and was further boosted by bullish events such as certain developments. The ongoing token-burning story of SHIB also points towards a promising future perspective.
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2024-04-25 08:57