What you should know about the Shiba-Inu Token.
Shiba-Inu Token is a peer-to-peer decentralised experiment spontaneous community building cryptocurrency. It uses a puppy Shiba-Inu as its logo and $SHIB as its Ticker sign. This cryptocurrency trades as SHIB and has now been branded “DOGECOIN KILLER.” Its founder Ryoshi a little known is now grateful for the move to be in the limelight. He has a recent Twitter account which is hasn’t been active but has now found life after recent listings by a couple of trading platforms.
Shiba-Inu is ERC-20 only token. It is claimed to remain worth under a penny but beat Dogecoin, the reason why it is called Dogecoin killer. The coin proudly writes on its website that they locked 50% of its total supply on Uniswap and threw away the keys. The rest was awarded to Ethereum’s co-founder Vitalik Buterin who decides what to do with them. Buterin can either keep or crash the value of SHIB if he chooses to sell the tokens.
The success or failure of this token lies in the hand of Vitalik Buterin. The Shib-Army believes that success requires vulnerability.
Shiba-Inu: How it happened.
So since token launched it has had trading volumes of less than $1. One US dollar. The tokens have stayed on the network since last year and the beginning of 2021 when Dogecoin gained popularity users had to start looking for the next big thing and they found Shiba-Inu Tokens. It now has a 24-hours trading volume of over $8 billion and a market capitalisation of over $11 billion. All this happened in just a week after Twitter took the coin viral. Everyone now wants a share of the coin which is worth $0.000029 as of the 12th May 2021.
The surge in trading volumes has come due to a successful listing on OKEx and Binance. Another platform that has also boosted the volumes are the Chinese founded platform Huobi which has many users and currently handling the largest share of SHIB trading.
Shiba-Inu used the opportunity for the Saturday Night Live show to sell about itself. The Shib-Army won greatly when Elon Musk called Dogecoin a “hustle.” Two days later after the show, Binance listed Shiba-Inu and was the turn around because there was a 100% increase in the price of SHIB.
This coin may now be looking like a “meme coin” just as how Dogecoin started. It is worth noting that it is gaining popularity therefore people shouldn’t just overlook it.
Shiba-Inu: What is it about?
The Shiba-Inu token runs on the Ethereum ERC-20 blockchain. Ryoshi says that the coin, ShibSwap exchange and the Shib Army of developers and fans were just an experiment of “spontaneous community building.” the aim was to raise funds to rescue Shiba-Inus which Ryoshi has termed as incredible dogs. The funds were to be channelled to the Shiba-Inu Rescue Association.
Shiba-Inu is also planning on launching ShibaSwap which is a decentralized exchange on the Ethereum blockchain. It is also advertising an artist incubator which may be an NFT. All these will be part of the self-proclaimed Dogecoin killer.
Shiba-Inu token is a meme coin and it embraces that. As Dogecoin it started as a joke and made it to be heard. Its whitepaper goes by the name “Woofpaper.” This shows how these coins start as a joke. Shiba-Inu Token is riding on Dogecoin popularity tracing back to when it began to get some value.
Cryptocurrencies are changing lives. Goldman Sachs Managing director quitting his job after making a fortune on Dogecoin. People have now turned on Shiba-Inu. These are signs that the financial markets are turning. Cryptocurrencies are promising but they are volatile and thrive on speculations. Please invest with caution.
Shiba-Inu: A relatively low value
The Shiba-Inu crypto is a digital currency that has value relatively low compared to others popular cryptocurrencies. This feature can be seen as an advantage for investors looking to buy tokens at a affordable price. With a relatively low value. Investors can buy a large number of tokens without having to spend a large amount of money.
However, it is important to note that the value of the crypto can be volatile and can fluctuate rapidly depending on supply and demand. Therefore, investors should be aware of the risks associated with investing in cryptocurrencies. By understanding the possibility of losing their investment due to price volatility. Ultimately, the relatively low value of the Shiba-Inu crypto may be a advantage for some investors. It is important to do research and make informed decisions before investing in this digital currency.
The Shiba-Inu crypto is available on several popular cryptocurrency exchanges, including Binance, Coinbase, and Kraken. This provides investors with a wide choice of platforms to buy and sell Shiba-Inu tokens. The availability of Shiba-Inu crypto on these popular exchanges can also offer a plus high liquidity. There is a large number of investors who can buy and sell tokens.
It can also provide greater transparency. Popular exchanges are generally regulated and offer better investor protection. Additionally, the Shiba-Inu crypto is available on the Shiba-Inu community’s decentralized exchange, the ShibaSwap, which offers benefits such as transaction fees lower and greater autonomy for investors. Ultimately, the availability of the Shiba-Inu crypto on several popular exchanges is an important factor. It contributes to its growing popularity.
The ShibaSwap is a decentralized exchange launched by the Shiba-Inu community in July 2021. It offers investors the opportunity to trade Shiba-Inu tokens without having to go through centralized exchanges. The ShibaSwap also allows investors to provide liquidity by adding trading pairs. This allows them to earn rewards in Shiba-Inu tokens. The decentralized exchange also offers lower transaction fees than centralized exchanges, which can be an advantage for investors looking to reduce the costs associated with trading.
In addition, the ShibaSwap is controlled by the Shiba-Inu community, which means that investors can participate in decisions related to the development of the platform. The ShibaSwap is an example of commitment and some creativity of the Shiba-Inu community, who seek to offer innovative solutions for cryptocurrency investors.
In conclusion, the Shiba-Inu crypto is a digital currency unique that offers many interesting features for the investors. His community strong And committed, her supply important, its relatively value weak, its availablity on several popular cryptocurrency exchanges, and its decentralized exchange, THE ShibaSwap, are all aspects that have contributed to its growing popularity.
However, it is important to note that the value of the Shiba-Inu crypto can be volatile and investors should be aware of the risks associated with investing in cryptocurrencies. Ultimately, it is important to do research and make informed decisions before investing in Shiba-Inu crypto or any other cryptocurrency.
You will surely like our other articles on the main cryptocurrency news, for example: “XRP cryptocurrency: between advantages and controversies”, “Dogecoin: a popular crypto on the rise?” “, “Shiba-Inu: A cryptocurrency with the best community? “, “Stellar and Stellar Lumens (XLM) – Explained” and “Solana: The Fast, Scalable and Inexpensive Cryptocurrency”.