Shiba Inu leaps into DeFi with $12M investment, fueling bullish market and driving Dogeverse presale to $11M

adminApril 26, 2024

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As the cryptocurrency market comes back to life after the Bitcoin halving, Shiba Inu (SHIB) is making a significant impact. Institutional buyers poured as much as $12 million into the meme coin, sparking a wild rally that saw it rise 14% in a week.

Currently ranked 11th on CoinMarketCap with an impressive market capitalization of $15 billion, the resurgence of the Shiba Inu is a hot topic in the cryptocurrency community.

As the cryptocurrency market strengthens, is Shiba Inu (SHIB) leading the meme coin rally?

The cryptocurrency market is currently experiencing a strong rebound, and it’s not just giants like Bitcoin and Ethereum that are enjoying the bullish trend.

Meme coins led by Shiba Inu are also showing significant gains, as indicated by the Greed Index gauge of 65, indicating that market sentiment is shifting from fear to greed.

Major cryptocurrencies such as Ethereum and Solana are making notable developments, contributing to the broader market rally. But one that is gaining attention is Shiba Inu, which is moving beyond its meme coin roots to establish itself in the decentralized finance (DeFi) space.

SHIB Army, a dedicated community of Shiba Inu, plays a pivotal role in supporting ventures in cryptocurrency beyond mere speculative trading. Shiba Inu’s strategic shift toward tangible utility-based products is exemplified by the launch of its own privacy-focused blockchain.

This development is a significant move that highlights the evolution of the Shiba Inu and attracts $12 million in investment from renowned cryptocurrency venture capitals such as Animoca Brands, Big Brain Holdings, Mechanism Capital, and others.

The funds are earmarked for development of Shiba Inu’s upcoming layer 3 blockchain, based on a new utility and governance token called TREAT. These changes have strengthened institutional investor confidence in Shiba Inu’s potential far beyond the meme coin market.

Shiba Inu is also expanding its ecosystem through the development of various tokens and financial tools, including BONE, LEASH, and K9 Finance solutions. These initiatives are designed to solidify Shiba Inu’s position in the competitive cryptocurrency landscape by strengthening its utility and providing more value to holders.

Shiba Inu (SHIB) price analysis

Looking at Shiba Inu’s recent trading patterns, most of them are in a downward trend, but there are signs of an upward trend again. We may soon test the low $0.000024 price range to see if it can stabilize.

Despite facing some difficulties and a slight decline in the last 24 hours due to reaching the price ceiling set earlier this week, this appears to be a slight dip in the overall upward trend. Although it has yet to break the recent high of $0.000026, there have been several attempts to surpass this point.

Shiba Inu price analysis graph

In comparison, Shiba Inu performed better than its rival Dogecoin last week, taking second place in the meme coin market rankings. Trading activity for Shiba Inus has increased by 15.53%, showing that more investors are interested in purchasing Shiba Inu despite a slight decrease in overall market value.

Currently, market sentiment surrounding Shiba Inu is neutral. This contrasts with the Fear and Greed indices, which currently indicate a more positive and risk-tolerant environment.

Shiba Inu (SHIB) Price Prediction

An examination of Shiba Inu’s performance over the past 30 days revealed periods of volatility with positive and negative price movements almost evenly distributed.

However, the forecast for next week offers the possibility of an uptick. Price predictions suggest an increase of 12.38% to 24.88%. This translates to an expected price range of $0.000028 to $0.000035.

The long-term prospects for Shiba Inus are even more encouraging. The price prediction for next month shows a significant increase of 229.47% and the expected price is $0.000082. This significant rise in estimates suggests that optimistic sentiments are developing for the Shiba Inu going forward.

This market resurgence trend extends beyond Shiba Inus to other sectors within the cryptocurrency landscape. Emerging coins like Dogeverse are gaining attention due to their proposed features, including the ability to work on multiple blockchain platforms.

This development serves as a testament to the continued evolution of meme coins, which are incorporating increasingly complex technological frameworks. This integration expands its influence and practical utility within the broader blockchain ecosystem.

For those looking for the best altcoin investment opportunities in 2024, take a look at our comprehensive guide with the most notable choices.

Dogeverse: First Chain Move Doge Emerges as a Profitable Option

For investors looking for promising opportunities, Dogeverse presents an interesting option as the world’s first chain travel Doge. The reservation price is scheduled to increase in just 1 day and 15 hours, so now is an advantageous time to enter with a much lower initial cost. Dogeverse has successfully raised more than $10.9 million since launching in early April.

The project also offers a staking option with dynamic returns that can vary from 300% to 100%, so it is important to monitor these fluctuating rates.

The term “Chain-traveling Doge” refers to Dogeverse’s ability to enable multi-chain functionality, allowing trading across multiple platforms, including Ethereum, Binance Smart Chain, Polygon, Avalanche, and Base. , Solana has expansion planned in the future.

the future looks bright #DOGEVERSE with #worm-hole technology! 🌌
This innovation provides the following benefits: 🐾✨
🚀 Wide audience
💸 Increased financial flexibility
🔄 Simplified connectivity
🌟 Improved scalability
🛡️Enhanced Security pic.twitter.com/Ty7rW2WqM5
— DogeVerse (@The_DogeVerse) April 25, 2024

Leveraging advanced bridging technology, Dogeverse easily facilitates seamless integration between multiple chains.

With a well-defined roadmap and clear token economics, Dogeverse stands out as a project worth exploring for those interested in innovative cryptocurrency ventures. To participate in the $DOGEVERSE token presale, visit thedogeverse.com.

Dogeverse – Multichain Meme Coin