Shiba Inu Memecoin Nets $12M Funding Boost from Institutional Backers!

Key Points:

• Shiba Inu memecoin secures $12 million in a private token sale for its upcoming TREAT token, attracting investment from renowned venture capital firms.
• Notable investors outside the United States, including Comma 3 Ventures and Big Brain Holdings, participate in the private token sale, highlighting international interest in the project.
• Shiba Inu plans to leverage Fully Homomorphic Encryption (FHE) technology for its TREAT platform, unlocking new possibilities such as encrypted lending and tokenized asset exchanges.

Shiba Inu memecoin has made headlines yet again, raising a whopping $12 million from a private token sale of its upcoming TREAT utility and governance token.

The impressive roster of investors includes notable names such as Comma 3 Ventures, Big Brain Holdings, and Cypher Capital, among others. Notably, all investors involved in the private token sale were based outside the United States.

This influx of funds marks a significant milestone for the Shiba Inu project, as it gears up to expand its network and unlock new possibilities for its community. Shytoshi Kusama, the anonymous core developer of Shiba Inu memecoin, expressed optimism about the project’s potential for growth, emphasizing the importance of venture capital firms in achieving these goals.

While Kusama has maintained a low profile in recent months, reports of his sightings in various locations have surfaced. However, Kusama dismissed speculations, asserting that he is merely enjoying a well-deserved vacation. Despite this, Kusama resurfaced on Telegram to address criticisms, reaffirming his dedication to the project’s success.

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Shiba Inu’s TREAT Platform Redefining Crypto Possibilities

The introduction of the TREAT token is poised to revolutionize the Shiba Inu memecoin ecosystem, leveraging Fully Homomorphic Encryption (FHE) technology to enhance privacy and security. Partnering with Zama.ai, Shiba Inu aims to deploy FHE technology to unlock innovative applications, including encrypted lending platforms and tokenized asset exchanges.

Funds raised from the token sale will fuel the development of the TREAT platform by Shiba Inu Mint S.A., the project’s Panamanian entity. With plans to explore various applications of FHE technology, Shiba Inu is poised to solidify its position as a leading player in the memecoin space.

Despite its status as a memecoin, Shiba Inu memecoin has demonstrated remarkable performance, boasting a 164% gain over the past year. From introducing .shib domains for tokenholders to surpassing 1 million users on its Shibarium layer-2 scaling solution, Shiba Inu continues to innovate and captivate the crypto community.