The Shiba Inu price has risen by 2% today, moving to $0.00002704 as the wider cryptocurrency market posts a 1% gain in the past 24 hours. SHIB is now up by 15% in the past week, with much of this coming in the past couple of days, following the news that Shiba Inu’s team of developers has raised $12 million in funding for its new privacy-focused layer-three blockchain. And while it remains down by 1% in the past month, the coin’s 163% increase over the past year shows that it has medium- and long-term momentum on its side. Such momentum is likely to increase as the news surrounding its new platform filters out, with an increasingly bullish market also likely to boost the coin’s price.