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If you’re wondering what Shiba Inu crypto is, you’re not alone. This digital currency has been taking the world by storm, and it seems like everyone is talking about it. So, what is Shiba Inu crypto? Keep reading to find out.
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Introduction
Shiba Inu is a decentralized cryptocurrency that was created to be a fun, friendly, and community-driven alternative to other existing cryptocurrencies. The project was started by a team of anonymous developers in August 2020. The name “Shiba Inu” comes from the popular Japanese dog breed of the same name. The Shiba Inu breed is known for being loyal, brave, and good-natured, which aligns with the team’s goals for the currency.
The Shiba Inu token (SHIB) is based on the Ethereum blockchain and utilizes the ERC-20 token standard. There is a total supply of 1 quadrillion SHIB tokens, with 50% of the supply distributed to holders of other Ethereum-based assets such as ETH, BTC, and DOGE through a process known as “the burn.” Holding these other assets in a wallet allows users to automatically receive SHIB tokens. The remaining 50% of the SHIB supply is locked up in what is known as the “Dogefather” smart contract. This smart contract cannot be accessed or altered by anyone, ensuring that no more SHIB tokens can be created.
The Shiba Inu team’s ultimate goal is to build a community-driven ecosystem of products and services that can be used by anyone, anywhere in the world. The project has no central authority or figurehead; instead, it is run by a decentralized autonomous organization (DAO). The DAO consists of seven community-elected moderators who make decisions about where to allocate funds and how to grow the community.
Shiba Inu has gained popularity in recent months due to its meme-inspired branding and its distribution methods. Due to its high token supply and relatively low price per token, SHIB has become a popular target for “tipping” on social media platforms such as Twitter. Users can send tips in amounts as small as 0.0001 SHIB ($0.000016 at time of writing), which has led to its nickname of “the donut coin.”
While Shiba Inu still remains highly volatile and incredibly risky due to its age and lack of use cases, it has nonetheless become one of the most talked-about cryptocurrencies in recent months. Only time will tell if it can live up to its hype or if it will fizzle out like so many other altcoins before it.
What Is Shiba Inu Crypto?
Shiba Inu is a decentralized cryptocurrency that is based on the Ethereum blockchain. The token was created with the intention of becoming the “Dogecoin killer” and has a similar design to the popular memecoin. Shiba Inu has a total supply of 1 quadrillion tokens and was created by an anonymous team of developers.
History
Shiba Inu is a decentralized cryptocurrency that was created with the Dogecoin blockchain fork on August 6, 2020. The currency is named after the Shiba Inu dog breed, which is popular in Japan and known for its playfulness. The founders of Shiba Inu chose this name because they wanted the currency to be fun and friendly, like a dog.
The currency was created by an anonymous team of developers who goes by the name Ryoshi. The team’s goal was to create a cryptocurrency that would be more accessible and user-friendly than other cryptocurrencies on the market.
To achieve this goal, the team decided to make Shiba Inu a ERC-20 token on the Ethereum blockchain. This means that it can be stored in any Ethereum wallet and traded on any Ethereum-compatible exchange.
Shiba Inu has a total supply of 1 quadrillion tokens. This large supply was intentional, as the team wanted to make sure that Shiba Inu would remain affordable for everyone.
The currency started trading on August 11, 2020, and its price has fluctuated quite a bit since then. However, it has generally trended upwards, reaching an all-time high of $0.000032 on January 5, 2021.
Features
-Shiba Inu is a decentralized cryptocurrency, meaning it is not subject to government or financial institution control.
-Shiba Inu has a total supply of 1,000,000,000,000 (one quadrillion) SHIB tokens.
-SHIB tokens are “ERC20” tokens on the Ethereum blockchain.
-Shiba Inu is intended to be used as a “meme” currency, similar to Dogecoin.
How to Buy Shiba Inu Crypto
Shiba Inu is a decentralized cryptocurrency that runs on the Ethereum blockchain. It is named after the Shiba Inu dog breed, which is popular in Japan. The cryptocurrency was created as a joke and as a way to parody the popular Dogecoin. However, Shiba Inu has since become a popular cryptocurrency in its own right. In this guide, we will show you how to buy Shiba Inu crypto.
Exchanges
These are the most popular exchanges to buy Shiba Inu on:
-Binance: They offer Shiba Inu trading against pairs such as BTC, USDT and BUSD. To start trading on Binance you will need to create an account and deposit cryptocurrency into your account.
-Huobi: They offer Shiba Inu trading against pairs such as BTC, ETH, HT and USDT. Similar to Binance, you will need to create an account and deposit cryptocurrency in order to start trading on Huobi.
-OKEx: They offer Shiba Inu trading against pairs such as BTC, ETH, USDT and OKB. You will again need to create an account and deposit cryptocurrency in order to trade on OKEx.
Wallets
Shiba Inu is a decentralized cryptocurrency built on the Ethereum blockchain. It is named after the Shiba Inu dog breed, which is popular in East Asia. The currency was created in August 2020 by an anonymous team of developers known as “Ryoshi” and “Ngambo” as a fork of the popular Dogecoin cryptocurrency. Shiba Inu has a total supply of 1 quadrillion (1,000,000,000,000,000) coins, which is 10 times the supply of Bitcoin.
Shiba Inu can be stored in any Ethereum-compatible wallet, such as MetaMask or MyEtherWallet. Ethereum-based exchanges such as Uniswap and Binance DEX also support Shiba Inu.
Conclusion
Shiba Inu is a cryptocurrency that was created as a parody of Dogecoin. It has since become its own currency, with a market capitalization of over $6 billion as of May 2021. Shiba Inu has no central authority and is decentralized, like most cryptocurrencies. It can be bought and sold on exchanges, and can also be used to purchase goods and services.
