Shiba Inu Price

What Is Shiba Inu 

The Shiba Inu (SHIB) token, which is a decentralized cryptocurrency token created in 2020 by an anonymous person known as Ryoshi, is an ERC-20 token on the Ethereum blockchain-based on Dogecoin. Keep in mind that this is a token without any smart contract utilities and isn't backed by any asset; it is simply a token that can be transferred.

Its main reason for existing is to be an alternative that is Ethereum-based to Dogecoin's Scrypt-based mining algorithm. This means that the SHIB token is a part of many dog-theme cryptocurrencies that are on the cryptocurrency market. Furthermore, since SHIB is based on Ethereum, it uses a proof-of-work consensus model that is in transition to a proof-of-stake model.

Shiba Inu Founders

Discussing the founders of the Shiba Inu (SHIB) token, the creator goes by the name of Ryoshi; however, there is little known about the cryptocurrency founder. SHIB was first created in August of 2020 as a decentralized meme token, similar in the lines of Dogecoin's creation.

How Does SHIB Work

From the day it was created, Shiba Inu (SHIB) attempted to do things a bit differently when compared to other cryptocurrencies. It started with a supply of 1 quadrillion, where 50% was locked in Uniswap, while the other half was burned to Ethereum co-founder Vitalik Buterin.

VB has utilized SHIB in the largest crypto donation in history and burned 40% of its total supply to a dead wallet which ensured the long-term success and stability of the token.

The Shiba Inu (SHIB) token itself is the foundational currency that allows investors to hold trillions of Shiba Inu (SHIB) tokens in their wallets. SHIB is up thousands of times and constantly expands its reach. It is the first to be listed and incentivized on ShibaSawp, which is the proprietary DEX.

LEASH is a rebase token; however, the rebase was removed, and as such, the potential was heightened. It has a supply of only 107,646 tokens and represents another side of the ecosystem. LEASH is the second token that is incentivized on ShibaSwap and offers lucrative rewards for holders that provide liquidity. Then you have BONE, which has 250,000,000 tokens and is designed to be a governance token that allows the self-dubbed #ShibARMy to vote on the upcoming proposals on the "Doggy DAO". All of this is reflected in the Shiba Inu Price. The Shiba Inu Community is also large, and there are a lot of Shiba developers out here on the decentralized exchange. Shiba Inu today has a Shiba Inu price that keeps on growing, with a lot of puppy pools, and is self-dubbed the Dogecoin Killer, which serves targeted advertisements and personalizes content.

Furthermore, aside from powering all of this, the Shiba Inu (SHIB) is used on the Shiba Inu Incubator.

Overall. The Shiba Inu (SHIB) token is a cryptocurrency token specifically developed to be yet another meme token, following the train of capitalization that made DOGECOIN so popular. The aggressive marketing and dedicated community remind us of the love DOGECOIN has, which can be replicated in the Shiba Inu (SHIB) token community, and the love for the Shiba Inu breed of dogs cannot be understated here. Overall, it has its own varied ecosystem where the token is utilized well, and time will tell how far this token actually ends up growing and if it can surpass the success DOGECOIN gained over the past year.

Where Can You Buy SHIB

Shiba Inu has an available supply of 497,730,966,630,396 and a total supply of 100,000,000,000,000 coins. If you want to buy, sell or trade Shiba Inu (SHIB), you can do so on the following exchanges: Bitinka, Binance, LBank, Hotbit, Exx, BitMart, and HuobiGlobal.

Our step-by-step guide on how to Buy Shiba Inu will help you get started!

Learn more about Shiba Inu

• How to Stake Shiba Inu [The Ultimate Guide]
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