- Shiba Inu plans to launch a new layer-3 blockchain with advanced encryption technology.
- The new layer will have the TREAT token as the upcoming token to perform a significant function in this layer.
Shiba Inu (SHIB), the second-largest meme coin, is striving to advance its ecosystem with significant new developments. Lucie, Shiba Inu’s marketing lead, has unveiled plans for a new layer-3 blockchain and several new tokens, indicating a shift towards a more substantive platform.
Lucie highlighted the expansion and revealed two new tokens in her recent announcement.“From SHIB, LEASH, BONE, SHEB, Shiboshis, ShibtheMV, and coming soon: TREAT and SHI, to innovative decentralized applications, our ecosystem offers endless possibilities. One of the most interesting things coming is our very own L3,” Lucie stated.
This comes after Shiba Inu received $12 million in investment in April exclusively for the new layer-3 network. The rounds have gone as high as $200 million, as reported by several sources. The upcoming layer-3 blockchain, which will be a part of the current Ethereum layer-2 blockchain Shibarium, will incorporate Fully Homomorphic Encryption (FHE) which allows for data processing without decryption. FHE is expected to enhance the security and privacy of the Shiba Inu ecosystem, which will include all tokens and projects such as SHIB, LEASH, BONE, TREAT, and SHI.
FHE will enable developers to perform computations in environments that cannot be trusted and, at the same time, have their data secure. This solution is designed to improve the privacy of Shiba Inu transactions and to safeguard the information of its users.
TREAT Token Set to Play Key Role in Private Network
The new layer will have the TREAT token as the upcoming token to perform a significant function in this layer. TREAT, built specifically for the private network, will allow developers to create and launch applications that will take advantage of the improved security features available on Shibarium. The release of TREAT and SHI tokens will also increase the utility of the Shiba Inu ecosystem since it will bring new features and advantages.
Despite these advancements, there are some community members who are against Shiba Inu and have raised certain concerns. There are concerns about the speed and the dimension of the development that is taking place.“This is our biggest problem: jumping to something else before finishing one thing. What is L3 before finishing L2? Finish the job at hand first,” a community member commented. Community sentiment remains mixed, with some expressing frustration over the lack of progress on burning tokens and enhancing auto-burn mechanisms.
Analyst Predicts Potential Price Surge for SHIB Token
Shiba Inu’s performance is still a concern as it is still 80% down from its all-time high. Year-to-date, Shiba Inu is up by 65%. As of this writing, Shiba Inu is currently trading at $0.00001718 with a 24-hour increase of 2%.
Crypto analyst JAVON MARKS posted on X that SHIB has “confirmed a macro Hidden Bullish Divergence with its RSI,” and it can reach $0. 0000456 with a 164% upswing from the current price. JAVON MARKS showed that the price of SHIB may not be limited to $0. 0000456, but it could rally even higher by another 75% to the levels of December 2021.
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