Cryptocurrency Shiba Inu Coin: Once upon a time, there was a very special dog. That dog was a Shiba Inu, and this dog inspired millions of people around the world to invest money into tokens with the dog’s image on it.
Cryptocurrency Shiba Inu Coin
According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own Shiba Swap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryosei.” Ryosei says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.
Shiba’s success sparked an avalanche of copycats, such as Bit Shiba, Shiba Fantom, Shibalala, King Shiba, SHIBAVAX, Captain Shib arrow, SHIBA2K22, Spooky Shiba, and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.
Who Are the Founders of SHIBA INU?
The SHIBA INU Woof Paper has three reasons why their team created SHIB:
- “We started from zero, with zero.”
- “The brilliant minds behind Shib had never collaborated before.”
- “We love Shiba Inu Dogs.”
The anonymous creator of the Shiba Inu coin is known as “Ryosei.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto.
In his blog RYOSHI RESEARCH, he characterizes himself as “just some guy of no consequence tapping at a keyboard.” Ryosei said that usually in projects there are different roles like a CEO, a “tech guy,” and a roadmap, resulting in “someone plebs can bitch at.” He stresses that with Shiba, no one person is accountable or responsible and underlines that he owns 0 SHIB to this day. For this reason, Ryosei can be “pure and unbiased,” getting satisfaction from Shiba “in other ways.”
How do I buy Shiba Inu?
Cryptocurrency Shiba Inu Coin: You can buy, send, and receive SHIB from a few different crypto exchanges. And because SHIB is issued as an Ethereum token, it’s compatible with the vast Ethereum ecosystem.
Advantages include compatibility with Ethereum wallets like Coinbase Wallet, availability on decentralized exchanges (or DEXs) like Uniswap, the potential for SHIB to be incorporated into ETH-based DeFi applications like lending and savings products and NFT marketplaces.
What Makes SHIBA INU Unique?
Cryptocurrency Shiba Inu Coin: The SHIBA INU website invites dog-inspired artists from all over the world to foster the “artistic Shiba movement” as they bring their SHIBA INU community into the NFT market. SHIBA INU has also created a campaign using Amazon Smile in order to collect donations to Escue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.
After initially being only one meme coin of many, Shiba Inu skyrocketed to popularity after Vitalik Buterin famously burned his share of the SHIB supply. Ryosei had given Buterin 50% of the SHIB supply, announcing that “as long as Vitalik doesn’t rug us,” Shiba Inu would be fine.
However, Buterin decided to burn 90% of his share, which later would have been worth billions thanks to the soaring value of SHIB. The remaining 10% were sent to a charity, as were about 50 trillion SHIB more that Vitalik had donated to a COVID-19 relief fund. He stated that he did not want “to be a locus of power” and thus gave the tokens away. This resulted in a temporary loss of value for SHIB, which the token later recovered from after the community agreed on an arrangement with the charity in question.
How is SHIB different from DOGE?
Cryptocurrency Shiba Inu Coin: SHIB, unlike DOGE, is compatible with the Ethereum ecosystem — which has allowed the community to create crypto apps like Shiba Swap, a DEX that allows users to trade and stake tokens without an intermediary. In the future, the Shiba community plans to release an NFT platform and DAO-based governance system for the Shiba ecosystem (called “Doggy DAO”).
SHIB: The Metaverse and Shi barium
Cryptocurrency Shiba Inu Coin: According to the team, the goal is to create a fun, immersive and interactive environment where users can explore, earn passive income, and collect in-game resources. Importantly, the metaverse will allow users to develop and launch their own projects. In total, there are 100,595 plots of land on SHIB: The Metaverse. Of the total, 36,431 digital lands were unlocked on April 13, 2022 – the launch date of the introductory phase of the metaverse.
Like most existing metaverses, the parcels of land found on SHIB: The Metaverse is categorized based on the desirability of their locations. Naturally, lands in strategic areas are valued higher than the rest. The four tiers of lands on Shiba’s metaverse are as follows:
Originally, the plan was to allow the use of ETH alone to mint unlocked lands. However, the team later decided to add the SHIB token as a minting currency, thereby expanding the utility of the token.
How Many SHIBA INU (SHIB) Coins Are There in Circulation?
Cryptocurrency Shiba Inu Coin: There are several other tokens described on the SHIBA INU website — LEASH, which has “been unleashed and will not rebase,” and BONE, the “Dogecoin Killer.” LEASH has a fixed supply of only 107,646 tokens, and offers enticing rewards to liquidity providers, while BONE has 250,000,000 tokens, and is a governance token that allows holders to vote on the Shiba Inu’s Doggy decentralized autonomous organization (DAO).
The Woof Paper notes that you will use SHIB to DIG for BONES or Shiba Swap, or even BURY your tokens. “Trainers” can teach their Shiba’s to SWAP tokens as well — all of these actions create “Returns” that are put into the Puppy Pools, where the #SHIBARMY has the option of BURYING or DIGGING for BONES.
How Is the SHIBA INU Network Secured?
Cryptocurrency Shiba Inu Coin: Ryosei announced in his final blog post to date that Shiba Inu would develop its own layer-two solution that would be more decentralized than Polygon or BSC, both of which Ryosei regards as not truly decentralized. The Shiba L2 would be called “Shibarium” and is supposed to use BONE as its primary pair token, as written above.
According to Ryosei, Shibarium would be built by a “very competent blockchain team” with experience building such solutions. Developer Eric M has announced in the Shiba Inu Discord server that Shibarium would launch “soon,” although he did not specify a date.
Where Can You Buy SHIBA INU (SHIB)?
cryptocurrency Shiba Inu coin 2023: It is possible to buy Shiba Inu on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2), and OKEx, among other exchanges.
To check Shiba Inu price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the Shiba Inu currency page. Alternatively, use the dedicated exchange rate converter page. Popular Shiba Inu price pairs include SHIB/USD, SHIB/GBP, SHIB/AUD, and SHIB/EUR.
See also” 5 Disadvantages of Cryptocurrency.“
Why Shiba Inu is still a top cryptocurrency to watch in 2022.
Cryptocurrency Shiba Inu Coin: Shiba Inu’s core metrics are getting better despite the market crash.
- Shiba Inu is currently trading at over 80% off its most recent highs.
- Shiba Inu adoption is on the rise, an indicator that trust in it as a network is rising.
- Once the bull market returns, Shiba Inu is one of the cryptocurrencies with a good rebound chance.
Shiba Inu (SHIB) was one of the hottest cryptocurrencies to buy in 2020/21. Today, anyone who bought more than $100 worth of SHIB in 2020 and sold by November 2021 is a multi-millionaire. However, like the rest of the market, SHIB has tanked in 2022. It is down by over 80% from its all-time highs. While it may feel like SHIB and meme coin season is over in general, there is a lot to look forward to regarding SHIB.
There is also the fact that Shiba Inu is a deflationary cryptocurrency. Close to 50% of the SHIB total supply is already burned. This means the price of SHIB is in a unique place to go up in value in the long run.
Is Shiba Inu good crypto to buy now?
Cryptocurrency Shiba Inu Coin: Shiba Inu is trading at a massive discount at the moment. When you factor in its fundamentals, such as growing adoption and a deflationary supply, the odds are high that SHIB could do well going into the future. Besides, Bitcoin seems to have found strong support around the $28k price level. If it bounces off this level, it could lift the entire market with it, including Shiba Inu.
Cryptocurrency Shiba Inu Coin: For instance, Shiba Inu has proven to be a pretty progressive project. It started as just a random meme coin looking to compete with Dogecoin. However, it has since evolved to have a broad ecosystem of developments. One of the more notable ones is the Shiba Inu layer-2 solution designed to scale Shiba Inu payments. This is a big deal as it incentivizes businesses to accept Shiba Inu for payments. It is not surprising that since SHIB launched, the number of businesses accepting it for payments has shot up.
Can banks quote Shiba Inu 2018 ban to customers?
Cryptocurrency Shiba Inu Coin: RBI mentioned that banks cannot quote its 2018 ban to customers as it was overruled by the Supreme Court, paving the way for crypto trading to continue in India. Shiba Inu price moved up by 2.33% in 24h. Shiba Inu’s last traded price is Rs 0.000968.
Cryptocurrency Shiba Inu Coin: SHIBA INU was mentioned in 58,489 out of 2,456,146 social media posts on Twitter and Reddit on Feb 27, 2023. This is a 23.6% increase compared to yesterday’s volume. Additionally, 2,743 unique individuals are talking about SHIBA INU and it is ranked #5 in most mentions and activity from collected posts.
In the last 24 hours, across all social media platforms, SHIBA INU has an average sentiment score of 3.1 out of 5. Finally, SHIBA INU is becoming more newsworthy, with 2 news articles published about SHIBA INU. This is an 83.33% increase in news volume compared to yesterday. On Twitter, people are mostly neutral about SHIBA INU. There were 6.88% of tweets with bullish sentiment compared to 0.69% of tweets with a bearish sentiment about SHIBA INU.
Cryptocurrency Shiba Inu Coin: 92.43% of tweets were neutral about SHIBA INU. These sentiments are based on 3898 tweets. On Reddit, SHIBA INU was mentioned in 2 Reddit posts and there were 6 comments about SHIBA INU. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
FREQUENTLY ASKED QUESTIONS (FAQs)
What is the current price of SHIBA INU?
The price of SHIBA INU has risen by 20.88% in the past 7 days. The price declined by 3.49% in the last 24 hours. In just the past hour, the price shrunk by 0.05%. The current price is ₹0.0012 per SHIB. SHIBA INU is 56.42% below the all-time high of ₹0.0027.
What is the all-time high of SHIBA INU?
The all-time high of SHIBA INU is ₹0.0027. This all-time high is the highest price paid for SHIBA INU since it was launched.
What other assets are similar to SHIBA INU?
Assets that have a similar market cap to SHIBA INU include Cardano, Dogecoin, Polygon, and many others.
What is the typical holding time of SHIBA INU?
The median time that Coinbase customers hold SHIBA INU before selling it or sending it to another account or address is 233 days.
What is the market cap of SHIBA INU?
The current market cap of SHIBA INU is ₹640.71B. A high market cap implies that the asset is highly valued by the market.
What is the 24-hour trading volume of SHIBA INU?
Over the last 24 hours, the trading volume of SHIBA INU is ₹39.37B.
How many SHIBA INU are there?
The current circulating supply of SHIBA INU is 549 trillion.
What is the relative popularity of SHIBA INU?
SHIBA INU ranks 3 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Can I buy SHIBA INU on Coinbase?
Yes, SHIBA INU is currently available on Coinbase’s centralized exchange.