đ°If Team Raises $12 Million For Its New Blockchain, Shiba Inu Price Will Reach $10?
đ°The Shiba Inu price rose 2% today to $0.00002704, while the cryptocurrency market rose 1% in 24 hours.
đ°SHIB has risen 15% in the previous week, mostly in the past two days, after Shiba Inu's creators received $12 million for their privacy-focused layer-three blockchain.
đ°The currency is down 1% in the previous month, but its 163% growth over the past year demonstrates medium- and long-term momentum.
đ°As word of its new platform spreads, a positive market may enhance the coin's price.
đ°Since its indications have been rising and remain optimistic today, SHIB's chart suggests a growth surge.
đ°Over the weekend, its 30-day average (orange) crossed its 200-day average (blue), indicating strong buying pressure.
đ°After hitting 80 yesterday and dropping late last night, SHIB's relative strength index (purple) is climbing near 70 again.
đ°This bullish RSI recovery after a little drop suggests the currency is in a medium-term growth period.
đ°SHIB's trade volume exceeds $1 billion and is $800 million đ°today, up 100% from Saturday.
đ°As noted, Shiba Inu's $12 million layer-three chain rise is the major cause of this surge.
đ°Polygon Ventures, Animoca Brands, Stake Capital, Mechanism Capital, Big Brain Holdings, Shima Capital, Morningstar Ventures, Woodstock finance, DWF Ventures, and Comma 3 Ventures finance it.
đ°This diverse group of investors shows trust in the new chain, which will be based on Shibarium and use Zama homomorphic encryption technology to improve privacy.
đ°It will also include the final non-stablecoin token in the Shiba Inu ecosystem, TREAT.
đ°This development reinforces the increasing notion that Shiba Inu is more than a meme token, with its creators working hard to expand its usefulness (Sibarium launched last year).