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TREAT, the new layer 3 token from the Shiba Inu team, has investors hoping for another moonshot from the team that gave us the OG meme coin, SHIB.
Shiba Inu (SHIB) is the second most prominent dog-themed meme coin, behind Dogecoin (DOGE). According to Coingecko, Shib is up an astronomical +44,788,232% since its all-time low in November 2020 which is mind-boggling.
Over time the team have been shedding their meme coin persona, they’ve done this by creating a Shiba ecosystem that include a DEX, NFTs, a staking protocol and a layer-2 network named ‘Shibarium’.
Shibarium already has its own native token, BONE, which went live in July 2021. The team also created a bridge for Shibarium which launched in August 2023.
The ecosystem also features a limited supply token called LEASH that is used to reward the Shiba Inu community with benefits such as BONE tokens and whitelist access to Shiba NFTs.
Shiba Inu Ecosystem Growth – More Than Just a Meme Coin
In the latest move, the team has now gone one step further, raising $12m in a recent seed round to fund a ground-breaking privacy-focused Layer 3 network and the token that will power the network, TREAT.
As per the press release from the 22nd of April 2024, Treat will act as the utility and governance token for the new blockchain.
TREAT will add to a portfolio of Shiba Inu ecosystem tokens already including SHIB, BONE and LEASH.
This privacy-focused Layer 3 chain will be powered by ‘Fully Homomorphic Encryption (FHE)’.
This technology was created by Shiba Inu’s partner, Zama.ai. By using this revolutionary encryption technology, Shiba is aiming to improve security and trust within the Shiba Inu ecosystem.
BREAKING NEWS:$SHIB Development Team raised $12 Million for $Treat token. pic.twitter.com/MB1yNNg6CK
— ShibariumGem (@Shibariumgem) April 25, 2024
DISCOVER: The Latest Cryptocurrency Launches in April 2024
Will TREAT be the Second Billion Dollar Token in the Shiba Inu Portfolio?
Many investors and members of the Shib community are already speculating heavily on the future price of TREAT.
Many believe that Treat will become the second most valuable token in the Shiba Inu ecosystem, behind SHIB.
Such prominent VCs’ $12m raise is seemingly the main reason for this bullishness.
Super excited for TREAT!!! @treatsforShib is a fascinating exercise in how Meme becomes Dream, and Shib finds the moon!!! 🚀🚀🚀 What started as a fun meme will end up as a case study in attention economies' ability to drive utility and technical evolution. Congrats TREAT,… https://t.co/HsOlVHvA0n
— Jehan Chu (@collectionist) April 22, 2024
Many fake TREAT tickers are floating around, so please exercise caution. The team has yet to announce the release date for the TREAT token, but be sure to keep an eye on the official X account for the latest updates on their Layer 3 initiative.
Could Viral DOGEVERSE Presale Offer Superior Multi-Chain Play?
But while the Shiba Inu ecosystem offers a market high-risk opportunity, the biggest gains can be accrued through presale opportunities, which position investors as early birds able to capture the lion’s share of project growth—just imagine investing in SHIB before it hit the market.
One such opportunity in the Solana ecosystem is the DOGEVERSE presale – which has unlocked viral success over the last two weeks to hit $11M raised in the ongoing presale.
Aiming to be the first multi-chain incarnation of DOGE, DOGEVERSE is positioned to grow rapidly as one of the biggest meme coins in the market – so don’t miss out.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
