Cypher Capital's chairman emphasizes the importance of community support for blockchain projects, highlighting Shiba Inu's resilience despite challenges in 2023.

Shiba Inu is actively working on a new privacy-focused layer 3 blockchain, alongside developments in its metaverse and layer 2 chain. Recently, it raised $12 million through the sale of its governance token, TREAT, for the layer 3 blockchain.

Cypher Capital sees investing in Shiba Inu as aligned with its goal of exploring the cryptocurrency sector's potential, especially with Shiba Inu's innovative approach to network state and layer 3 construction. The project's focus on community, collaboration, and inclusive governance has garnered support from over a million on-chain holders.

Shiba Inu aims to revolutionize dApp development with its layered approach, offering flexibility and efficiency while facing challenges like infrastructure growth and interoperability.