Shiba Inu Marketing Lead Talks About Upcoming Developments and New Tokens

Source Beincrypto

Shiba Inu (SHIB), the second largest meme coin, is trying to advance with new developments. Lucie, the marketing lead for Shiba Inu, recently revealed plans for a new layer-3 blockchain and several new tokens, signaling a pivot towards a more substantive ecosystem.

Despite various development efforts, SHIB has underperformed compared to various other meme coins.

Shiba Inu Faces Criticism Despite New Development Plans

Lucie emphasized the expansion and also talked about two upcoming tokens.

“From SHIB, LEASH, BONE, SHEB, Shiboshis, ShibtheMV, and coming soon: TREAT and SHI, to innovative decentralized applications, our ecosystem offers endless possibilities. One of the most interesting things coming is our very own L3,” Lucie said.

This initiative comes on the heels of Shiba Inu reportedly securing a $12 million investment in April, specifically for this new layer-3 platform. The fundraising rounds escalated to valuations reaching $200 million, according to several reports.

Read more: How To Buy Shiba Inu (SHIB) and Everything You Need To Know

According to Lucie, the forthcoming layer-3 blockchain, built atop the existing Ethereum layer-2 blockchain Shibarium, is set to integrate Fully Homomorphic Encryption (FHE). This encryption will allow developers to process data securely without the need for decryption through a collaboration with the open-source cryptography firm Zama.

These developments come as Shiba Inu is trying to bring in real-world utility. In December 2023, Shytoshi Kusama, a Shiba Inu developer, shared a vision for moving beyond memes.

However, this rapid expansion has been met with criticism from some community members. Concerns have been raised about the pace and scope of development.

“This is our biggest problem: jumping to something else before finishing one thing. What is L3 before finishing L2? Finish the job at hand first,” a community member said.

Lucie’s announcements arrive at a crucial time when Shiba Inu is still around 80% down from its all-time highs.

Year-to-date, Shiba Inu is up by 65%. However, new meme coins like Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) continue to outperform SHIB.

Read more: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

Shiba Inu (SHIB) Price PerformanceShiba Inu (SHIB) Price Performance. Source: TradingView

The community sentiment is a mixture of anticipation for new developments and frustration over existing strategies.

“This is why I went to Bonk coin. [Shiba Inu] got 30 coins when it could just work on SHIB. [The developer] won’t burn tokens and there is no increase in the auto burn,” another frustrated community member said.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Charlie Kirk’s Death Becomes a Crypto Flashpoint With ‘Justice’ TokensThe launch of new tokens following headline-making events is not new in the crypto market.
Author  Beincrypto
Sep 11, Thu
The launch of new tokens following headline-making events is not new in the crypto market.
placeholder
Gold climbs above $3,650 amid dovish Fed expectations, bearish USDGold (XAU/USD) is seen building on the previous day's goodish rebound from the $3,613-3,612 area and gaining some follow-through positive traction during the Asian session on Friday.
Author  FXStreet
Sep 12, Fri
Gold (XAU/USD) is seen building on the previous day's goodish rebound from the $3,613-3,612 area and gaining some follow-through positive traction during the Asian session on Friday.
placeholder
Forex Today: US Dollar finds support ahead of consumer confidence dataThe US Dollar stabilizes following Thursday's decline as market focus shifts to the University of Michigan's (UoM) preliminary Consumer Sentiment Index data for September.
Author  FXStreet
Sep 12, Fri
The US Dollar stabilizes following Thursday's decline as market focus shifts to the University of Michigan's (UoM) preliminary Consumer Sentiment Index data for September.
placeholder
Bitcoin Decouples From Gold, But Long-Term Correlation IntactData shows the digital gold narrative may be in danger on the short term as Bitcoin has diverged from Gold in its 30-day Correlation.
Author  Bitcoinist
Sep 12, Fri
Data shows the digital gold narrative may be in danger on the short term as Bitcoin has diverged from Gold in its 30-day Correlation.
placeholder
AUD/USD refreshes 10-month high near 0.6670 amid upbeat market sentimentThe AUD/USD pair posts a fresh 10-month high near 0.6670 during the European trading session on Friday.
Author  FXStreet
Sep 12, Fri
The AUD/USD pair posts a fresh 10-month high near 0.6670 during the European trading session on Friday.
goTop
quote