What Is Shiba Inu (SHIB)?
Once upon a time, there was a unique dog. That dog was a Shiba Inu, and this dog encouraged millions of people around the world to invest money into tokens with the dog’s image on them.
According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own Shiba Swap, a DEX. (SHIB) the coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he’s nothing and not essential and that the efforts to unmask his identity, if successful, would be underwhelming.
This meme coin quickly grew speed and value as a community of investors was drawn in by the cute charm of the Coin paired with captions and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the developer of (SHIB), but denied similar rumors on the Lex Fridman podcast on June 5, 2021.
Shiba Inu aims to be the Ethereum-the grounded counterpart to Dogecoin’s Crypt-based mining algorithm. Shiba Inu and the SHIB token are part of a mass of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). These lower-valued tokens have attracted investors who missed the Dogecoin pump, from0.0002 to nearly0.75 USD.
Shiba’s success sparked an avalanche of copycats, like as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba, and innumerous others. There may be well over 100 (SHIB) copies, and the composition keeps rising repeatedly.
OnSept. 17, 2021, Coinbase, the largest U.S.- based crypto exchange, listed (SHIB) on their platform. This news caused Shiba Inu’s price to rise by over 40 in the following two days, bringing the meme dog token into the limelight again.
Shiba Inu has since attracted further interest from other exchanges as well. Bitso, Mexico’s biggest cryptocurrency exchange, declared in September that SHIB would start trafficking on its deal. Giottus, an Indian crypto exchange, announced the same. Bitstamp, the biggest crypto exchange in Europe, said it would list (SHIB) for trafficking at the beginning of 2022. Korbit, a South Korean deal, became the country’s first exchange to list the SHIB token in 2021.
SHIBA INU (SHIB) Live Price, Market Cap, Volume, Supply.
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How Many SHIBA INU (SHIB) Coins Are There in Circulation?
The (SHIB) website notes that they locked 50 of the entire token budget on Uniswap and “threw away the keys!” The remaining 50 were “burned to Vitalik Buterin.” In reaction to the “gift” from the Shiba Inu team, Vitalik Buterin sent 50 trillion SHIB tokens worth$ 1 billion in (SHIB) price at that time to India’s COVID-19 Crypto Relief Fund. Buterin also burned 40 of the total budget to a low wallet.
Several other tokens are depicted on the SHIBA INU website — LEASH, which has “been released and won’t rebase,” and BONE, the “Dogecoin Killer.” LEASH has a fixed force of only 646 tokens and offers enticing rewards to liquidity providers. In contrast, BONE has Tokens and is a governance token that allows holders to bounce on the Shiba Inu’s Doggy decentralized autonomous organization (DAO).
The WoofPaper notes that you’ll use SHIB to DIG for BONES, Shiba Swap, or BURY your tokens. “Coaches” can teach their Shibas to exchange Tokens. These conducts create “Returns” that are put into the Puppy Pools, where the #SHIBARMY has the option of BURYING or DIGGING for BONES.
At the beginning of May 2021, dog-themed meme tokens like Shiba Inu caught transaction amounts in the hundreds of millions of dollars. Shiba Inu’s price hit an each-time high (ATH) of 0.00005 on May 10, 2021, before going on a downtrend.
As mentioned, on May 13, Vitalik Buterin (who was given half of the token supply by the developers) released that he was donating many of these tokens to a fund helping India with COVID-19 relief. The SHIBA developers hadn’t awaited Buterin selling his Tokens, but ultimately, the two parties reached a mutually satisfying agreement. Latterly, the fund lamented having sold its tokens too early, as its share would have been worth well over$ 1 billion at the token’s all-time high.
Despite rumors alleging the contrary, Elon Musk doesn’t enjoy any SHIB. He confirmed as much in a tweet, which caused a temporary price drop.
How Is the SHIBA INU Network Secured?
According to 22- page-long SHIB’s WoofPaper, SHIB is an ERC- 20 token based on Ethereum, evidence-of- work blockchain presently transitioning to proof-of- stake.
Ryoshi announced in his final blog post that (SHIB) would develop its layer- two solutions that would be more decentralized than Polygon or BSC, both of which Ryoshi regards as not genuinely decentralized. As written above, the Shiba L2 would be called “Shi barium” and is supposed to use BONE as its primary duo token.
According to Ryoshi, Shibarium would be assembled by a “very competent blockchain team” with experience building similar solutions. Developer Eric M has announced on the Shiba Inu Discord server that Shibarium would launch “soon,” although he didn’t specify a date.
Where Can You Buy SHIBA INU(SHIB)?
It’s possible to buy Shiba Inu on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2), and OKEx, among other exchanges.
To check Shiba Inu’s price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the (SHIB) currency page. Alternatively, use the dedicated swap rate converter page. Popular (SHIB) price pairs include SHIB/ USD, SHIB/ GBP, SHIB/ AUD, and SHIB/ EUR.
SHIBA Price Data
The live Shiba Inu price now is $0.00001098 with a 24- hour trading volume of$293,193,035 USD. We update our SHIBA to USD figures in real-time. Shiba Inu has been up 4.54 in the last 24 hours. The current CoinMarketCap scale is# 16, with a live market cap of $6,075,760,940 USD. It has a broadcasting budget of SHIBA coins and the max. The budget isn’t available.
Still, the top cryptocurrency swaps for trading in Shiba Inu stock are Binance and OKX. Suppose you want to know where to buy (SHIB) at the current rate. You can find others listed on our crypto exchanges page.
- What was Shiba Inu highest price?
Shiba Inu's price has gone as high as $0.00007959
- Where Can You Buy SHIBA INU(SHIB)?
It's possible to buy Shiba Inu on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2), and OKEx, among other exchanges.
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