Institutional Investors Fund Shiba Inu Memecoin at $12M

Investors Fund Shiba Inu Memecoin. Shiba Inu SHIB $0.000026, a canine memecoin project, has raised $12 million through a private token sale of its governance token and its unreleased TREAT utility.

Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, DWF Ventures, and Spirit Dao are among the investors, according to the announcement made on April 22. Every investor that took part in the private token sale wasn’t from the US.

The Shiba Inu project’s anonymous core creator, Shytoshi Kusama, stated that the involvement of venture capital firms and their partners will aid in network expansion and “increase what Shiba Inu can truly be capable of for our community.”

Low Profile of Kusama

This year, Kusama has kept a low profile. However, there have been user reports of his sightings in the Maldives, Japan, and New York. Kusama, however, asserts that his goal in going on vacation is to have fun “just like everyone else.” Nevertheless, on April 21, the core developer reappeared on Telegram. In response to a user’s criticism, Kusama commented, “I have put my heart and soul into building this, and you are a worthless fudder who is not deserving of the breath God gave you.”

“TREAT is the final unreleased token by the well-known meme brand that will unlock Shiba Inu’s recently announced blockchain featuring Fully Homomorphic Encryption (FHE),” according to Shiba Inu personnel. Investors Fund Shiba Inu Memecoin: Two months earlier, Shiba Inu and collaborated to implement the FHE technology, which serves as the foundation for Tre, the protocol’s innovative privacy layer.

Shiba Inu Mint S.A., the company based in Panamá, will utilize the funds to develop the Treat platform. The project mentioned that tokenized asset exchanges, encrypted machine learning models, and encrypted lending platforms are examples of potential uses for the technology.

Memecoin Shiba Inu has gained 164% in the last year, making it one of the best-performing coins. The protocol gave its token holders access to.shib domains in December of last year. Since its launch, Shibarium, its layer-2 scaling solution, has amassed more than one million users.

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