Shiba Inu’s Latest Magazine Offers Key Insights Into WOOF, TREAT, & Layer 3 Developments

Shiba Inu, one of the most popular dog-based meme cryptocurrencies, recently announced the latest edition of its magazine, “The Shib,” which spotlights a number of crypto developments. The magazine, released today April 24th, draws significant attention to his WOOF, TREAT and Layer 3 development efforts in the ecosystem.

This immediately gave the market a tinge of optimism for Shiba Inu, with investors anticipating increased price movement for SHIB tokens in the future. However, in conjunction with the overall market decline, Shiba Inu is trading in the red today, contradicting the optimistic sentiment created by the launch of ‘The Shib’.

Here, we take a closer look at the latest edition of Shib Magazine and why it has sparked optimism among investors around the world, even though SHIB remains in the red.

Latest edition of The Shib: Learn more

According to the insight provided by Latest issue of magazine “Shiba”, Shiba Inu has made great strides in recent days with the main aim of revolutionizing the meme coin ecosystem.

In particular, the dog-based meme token has secured a massive $12 million in funding from a large investment firm in an effort to strengthen its development. In this regard, Mechanism Capital, Big Brain Holdings, Cypher Capital, Shima Capital, DWF Ventures, Morningstar Ventures, Hercules Ventures, Animoca Brands, and others participated in this funding, reinforcing investors’ confidence in SHIB’s future endeavors. I support it.

At the same time, hints about the looming Layer 3 blockchain within the magazine generated further intense interest among crypto market participants. As a result of the collaboration between Shiba Inu and Zama, an FHE (Fully Homomorphic Encryption) based layer 3 blockchain appears to be in the pipeline. This notable move by Memecoin is positioned as an effort to provide users with unprecedented scalability on the network, further powering high-volume transactions, and seamlessly supporting complex applications.

Meanwhile, the magazine also notes that the new L3 will use TREAT as a governance and utility token, similar to the role BONE plays in Shiba Inu’s Layer 2 (L2), Shibarium. further this It seems that there is Generated a torrent of optimistic talk about the Shiba Inu Despite the negative trade today.

Also Read: TikTok CEO Guarantees Overcoming US Ban; Say “We’re not going anywhere”

Shiba Inu price list

At the time of writing, the price of Shiba Inu token has fallen by 8.32% in the past 24 hours and is currently trading at $0.00002505. This price slump has sparked speculation among cryptocurrency market participants, as the token’s price trend contrasts with recent development efforts.

In particular, SHIB’s first quarter provided a glimpse of notable gains not only for the ecosystem’s native token, but also for its companions. lead and bone. This, coupled with bullish events such as the aforementioned developments and his SHIB’s continued token burning saga, suggests an optimistic scenario for his SHIB in the long term.

Shiba Inu token reflects SHIB bearish trend

on the other hand, The Shiba Inu ecosystem tokens Bone Shiba Swap (BONE), Doge Killer (LEASH), and Treat simultaneously recorded a sharp decline in price, in contrast to the incredible development of the community.

BONE price has fallen by 4.76% in the past 24 hours and is currently trading at $0.624. LEASH has fallen 5.95% over the past day and currently stands at $403.83. Similarly, the newly introduced TREAT token recorded a decline of 14.25% and is currently resting at $0.001431. This mThis negates a broader downward trend for Shiba Inu, and the weak price is attracting even more attention.

Furthermore, it is worth noting that BONE’s open interest fell by 12.37%, and derivative trading volume also fell by 16.47%. Meanwhile, SHIB’s open interest fell by 4.78%, while the token’s derivatives trading volume rose by 3.39%.

Increased trading activity amid a sharp drop in SHIB prices adds further speculation about Shiba Inu’s future movements. Meanwhile, on-chain whale activity for the SHIB token has also spiked recently, fueling further speculation.

Also read: Archax CEO clarifies BlackRock’s role in Hedera tokenization

Related Article


Leave a Comment