#MarketSentimentToday
💰If Team Raises $12 Million For Its New Blockchain, Shiba Inu Price Will Reach $10?
💰The Shiba Inu price rose 2% today to $0.00002704, while the cryptocurrency market rose 1% in 24 hours.
💰SHIB has risen 15% in the previous week, mostly in the past two days, after Shiba Inu's creators received $12 million for their privacy-focused layer-three blockchain.
💰The currency is down 1% in the previous month, but its 163% growth over the past year demonstrates medium- and long-term momentum.
💰As word of its new platform spreads, a positive market may enhance the coin's price.
💰Since its indications have been rising and remain optimistic today, SHIB's chart suggests a growth surge.
💰Over the weekend, its 30-day average (orange) crossed its 200-day average (blue), indicating strong buying pressure.
💰After hitting 80 yesterday and dropping late last night, SHIB's relative strength index (purple) is climbing near 70 again.
💰This bullish RSI recovery after a little drop suggests the currency is in a medium-term growth period.
💰SHIB's trade volume exceeds $1 billion and is $800 million 💰today, up 100% from Saturday.
💰As noted, Shiba Inu's $12 million layer-three chain rise is the major cause of this surge.
💰Polygon Ventures, Animoca Brands, Stake Capital, Mechanism Capital, Big Brain Holdings, Shima Capital, Morningstar Ventures, Woodstock finance, DWF Ventures, and Comma 3 Ventures finance it.
💰This diverse group of investors shows trust in the new chain, which will be based on Shibarium and use Zama homomorphic encryption technology to improve privacy.
💰It will also include the final non-stablecoin token in the Shiba Inu ecosystem, TREAT.
💰This development reinforces the increasing notion that Shiba Inu is more than a meme token, with its creators working hard to expand its usefulness (Sibarium launched last year).
