Shiba Inu coin (symbol: SHIB) started as a digital joke in 2020, but it has evolved to become one of the prominent cryptocurrencies in terms of market value and community adoption. Here’s a fundamental analysis of its key aspects:
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🧱 Infrastructure and tokenomics
Initial release: SHIB was launched with a total supply of 1 quadrillion (1,000,000,000,000,000) tokens. In May 2021, the founding team sent half of the supply to Ethereum co-founder Vitalik Buterin, who burned 90% of it and donated the rest, significantly reducing the circulating supply.
Current supply: About 589 trillion tokens are in circulation, with ongoing burning processes to reduce supply and increase scarcity.
Associated tokens: The SHIBA ecosystem includes tokens like LEASH and BONE, where BONE is used as a governance token and a means of paying gas fees on the Shibarium network.
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🔧 Use cases and applications
ShibaSwap: A decentralized exchange (DEX) platform that allows users to trade tokens, provide liquidity, and earn rewards through "burying" or "farming."
Shibarium: A layer two solution built on Ethereum, aimed at reducing transaction fees and increasing network speed, enhancing scalability and decentralized applications.
Additional uses: payments, governance, NFT trading, and participation in metaverse projects.
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📊 Current performance and future expectations
Current price: About $0.00001426, with a market value of approximately $8.4 billion.
Future predictions: Some analyses suggest that the price of SHIB could range between $0.00001442 and $0.00005804 by 2025, and could reach between $0.00004156 and $0.00005261 by 2030.
⚠️ Risks and challenges
High volatility: SHIB is a meme coin, making it susceptible to significant fluctuations.
Large supply: Despite burning efforts, the large supply remains a significant challenge for rapid price increases.
Community reliance: The project's success is heavily dependent on community and developer support, making it sensitive to any changes in this support.
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