Shiba

FLOKI

Bonk

Polygon

Shiba Inu

Amid the ongoing struggles in the cryptocurrency landscape, the world’s second-biggest meme coin, Shiba Inu (SHIB), is hinting at bullishness. However, this bullish trend comes after SHIB raised a massive $12 million to develop its new privacy-focused Layer 3 blockchain and the recent breakout of a bullish flag and pole pattern. SHIB raised $12 million for its Layer 3 blockchain 
According to a recentreport on April 22, 2024, Shiba Inu has raised nearly $12 million via TREAT tokens to develop its new privacy-focused Layer 3 blockchain. However, this massive fundraising comes after the selling of its unreleased TREAT tokens to VC (Venture Capital) investors. 
Among these investors are Polygon Venture, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures, as per Shiba Inu’s report. This indicates that investors are much more interested in Shiba Inu’s upcoming Layer 3 blockchain. Furthermore, this massive $12 million fund was raised by these VC investors. Another indicator of SHIB’s bullishness is the breakout of the bullish flag and pole price action pattern. SHIB technical analysis and key levels 
According to expert technical analysis, SHIB on the daily timeframe has experienced a breakout, and it looks like in the coming days it may gain massive upside momentum. However, this pattern formed after a significant upside momentum and consolidation after March 2024. With this breakout of the bullish pattern, there is a high chance that SHIB may reach its all-time high.
Besides these factors, currently, SHIB is trading near $0.00002, and in the last 24 hours, it experienced a decent over 1% upside momentum. Looking at SHIB’s performance over a longer period, in the last 7 days, SHIB experienced a massive 15% upside momentum, whereas in the last 30 days, it experienced nearly a 3% downside momentum.
However, besides SHIB’s performance today after fundraising and breakout, other<a href="https://news.todayq.com/doge-shib-wif-shine-as-market-turns-green-will-it-stay/" rel="noopener noreferrer nofollow"> meme coins</a> like PEPE and FLOKI also experienced upside momentum of over 8% and 3%, respectively. On the other hand, top meme coins like Dogecoin (DOGE), Dogwifhat (WIF), and Bonk (BONK) experienced downside momentum.

SHIB price set to explode? Shiba Inu raise $12M for new blockchain

Todayq News

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