Shiba Inu is preparing to launch an innovative layer-3 blockchain that incorporates advanced encryption technology. The upcoming layer will introduce the TREAT token, which will play a crucial role in this new ecosystem.
Shiba Inu, the second-largest meme coin, is focused on expanding its platform and introducing significant developments. Lucie, the marketing lead for Shiba Inu, has announced plans for a new layer-3 blockchain and the introduction of two new tokens, signaling a shift towards a more substantial platform.
Lucie emphasized the expansion of the ecosystem and unveiled the upcoming TREAT token in her recent announcement. She stated, “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.”
In April, Shiba Inu secured a $12 million investment exclusively for the development of the new layer-3 network. According to reports from various sources, the funding rounds have reached as high as $200 million. The upcoming layer-3 blockchain, which will be integrated into the current Ethereum layer-2 blockchain called Shibarium, will incorporate Fully Homomorphic Encryption (FHE) technology, allowing for secure data processing without decryption. FHE is expected to enhance the security and privacy of the Shiba Inu ecosystem, which includes tokens such as SHIB, LEASH, BONE, TREAT, and SHI.
With FHE, developers will be able to perform computations in untrusted environments while ensuring the security of their data. This solution is designed to improve the privacy of Shiba Inu transactions and protect the information of its users.
The TREAT token will play a significant role in the new layer of the blockchain. Specifically built for the private network, TREAT will enable developers to create and launch applications that leverage the enhanced security features of Shibarium. The introduction of TREAT and SHI tokens will further enhance the utility of the Shiba Inu ecosystem by bringing new features and advantages.
Despite these advancements, there are community members who express concerns and objections to Shiba Inu’s development. Some raise concerns about the speed and scale of the ongoing developments. One community member commented, “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.” The community sentiment remains mixed, with some frustrated by the lack of progress in burning tokens and improving auto-burn mechanisms.
In terms of performance, Shiba Inu is still facing challenges, as it is currently 80% below its all-time high. However, it has seen a 65% increase year-to-date. As of now, Shiba Inu is trading at $0.00001718, with a 2% increase in the past 24 hours.
Crypto analyst JAVON MARKS recently shared on X that SHIB has confirmed a macro Hidden Bullish Divergence with its RSI. The analyst predicts that the price of SHIB could reach $0.0000456, representing a 164% upswing from the current price. Additionally, JAVON MARKS suggests that the price of SHIB may even surpass $0.0000456 and rally further, potentially increasing by another 75% to reach levels seen in December 2021.
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