Shiba

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Shiba Inu

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-team-announces-new-developments/" data-wpel-link="internal">Shiba Inu Team Announces New Developments</a> 
The second-largest <a href="https://en.coin-turk.com/significant-gains-for-meme-coins-on-base-network/" data-wpel-link="internal">memecoin</a> project, Shiba Inu, is striving to advance with new developments. Shiba Inu’s marketing leader Lucie recently announced plans for a new Layer-3 blockchain network and several new tokens, signaling a shift towards a more significant ecosystem. Despite various development efforts, SHIB has underperformed compared to other memecoin projects. 
<h2 class="p1" style="text-align: justify" id="new-step-from-the-shiba-inu-team">New Step from the Shiba Inu Team</h2> 
This initiative follows the report that Shiba Inu received a $12 million <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> in April specifically for this new Layer-3 platform. Various reports indicate that fundraising rounds have reached valuations of up to $200 million. Lucie emphasized the expansion and also mentioned two upcoming tokens: 
<blockquote> 
 “SHIB, LEASH, BONE, SHEB, Shiboshis, ShibtheMV, and soon: TREAT and SHI offer endless possibilities for innovative decentralized applications within our ecosystem. One of the most exciting upcoming developments will be our own Layer-3 network.” 
</blockquote> 
According to Lucie, the upcoming Layer-3 blockchain network built on the existing Ethereum Layer-2 blockchain network Shibarium will integrate Fully Homomorphic Encryption (FHE). This encryption will allow developers to securely process data without needing to decrypt it, in collaboration with the open-source cryptography firm Zama. 
These developments come as Shiba Inu attempts to bring real-world utility. In December 2023, a Shiba Inu developer named Shytoshi Kusama shared a vision to move beyond memecoin projects. However, this rapid expansion has been met with criticism from some community members. Concerns have been raised about the speed and scope of development. A community member shared the following thoughts: 
<blockquote> 
 “Our biggest problem is this: jumping to another thing without finishing one. What is Layer-3 before finishing Layer-2? Finish the work at hand first.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-shib-front">What’s Happening on the SHIB Front?</h2> 
Lucie’s <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">announcements</a> come at a critical time when Shiba Inu is still about 80% below its all-time highs. Since the beginning of the year, Shiba Inu has increased by 65%. However, new memecoin projects like Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) continue to outperform SHIB. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-374707 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/shib-3.webp" alt="" width="1536" height="891"> 
Community sentiment is a mix of anticipation for new developments and frustration with current strategies. Another frustrated community member expressed the following: 
<blockquote> 
 “That’s why I turned to Bonk. Shiba Inu took on 30 tokens when it could have just worked on SHIB. Developer tokens won’t burn, and there won’t be any increase in automatic burns.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-team-announces-new-developments/" data-wpel-link="internal">Shiba Inu Team Announces New Developments</a></h5>
The post <a href="https://en.coin-turk.com/shiba-inu-team-announces-new-developments/" data-wpel-link="internal">Shiba Inu Team Announces New Developments</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Shiba Inu Team Announces New Developments

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