'Dogecoin Killer' Shiba Inu Up 19% In 2 Days, Raises $12M For New Blockchain
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) has seen a 19% increase in value over two days, raising $12M for its new blockchain through a token sale of TREAT to non-U.S. investors. The funds were raised from notable investors including Polygon Ventures and Animoca Brands. The new Layer-3 blockchain aims to enhance privacy, with TREAT serving as its utility and governance token. Additionally, a temporary outage in the Shibarium network was resolved, and significant increases in transaction volumes and fees were reported. Analyst Javon Marks predicts a potential 69% recovery for SHIB to its 2024 highs.
April 22, 2024 | 2:35 pm
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POSITIVE IMPACT
Shiba Inu's recent 19% price surge and successful $12M fundraising for its new blockchain could signal a bullish short-term outlook. The involvement of major investors and a positive technical analysis by Javon Marks suggest strong market confidence.
The significant price increase, successful fundraising, and positive technical analysis contribute to a bullish short-term impact. The resolution of the Shibarium network outage and increased transaction volumes further support this outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100