#TradingTypes101
Shiba Inu (SHIB) is a meme-based cryptocurrency that emerged as an alternative to Dogecoin (DOGE). Here's a breakdown of the coin and its ecosystem:
🔹 What Is Shiba Inu (SHIB)?
Launched: August 2020 by an anonymous creator known as "Ryoshi"
Blockchain: Built on the Ethereum blockchain (an ERC-20 token)
Nickname: "Dogecoin Killer"
Mascot: Based on the Shiba Inu dog breed (like Dogecoin)
🔹 Key Features
Large Supply: Originally 1 quadrillion tokens, with significant portions burned (e.g., 50% sent to Ethereum co-founder Vitalik Buterin, who later burned most of it).
Decentralized Ecosystem: Includes more than just SHIB:
LEASH: A limited-supply token with different tokenomics.
BONE: Used for governance in the ShibaSwap ecosystem.
ShibaSwap: A decentralized exchange (DEX) for trading and staking SHIB ecosystem tokens.
Metaverse & NFTs: SHIB has launched NFT collections and has ambitions in the metaverse through Shib: The Metaverse.
Shibarium: A Layer-2 blockchain solution built to scale the ecosystem and reduce transaction fees.
🔹 Community & Hype
SHIB gained popularity in 2021, driven by retail investors and social media hype (particularly on Reddit and Twitter).
It often trends alongside meme coins and speculative assets, making it highly volatile.
🔹 Risks & Considerations
Volatility: SHIB’s price is highly speculative and can swing dramatically.
Utility: While the project is expanding, many still consider it a meme coin with limited real-world use.
Tokenomics: The massive supply dilutes price gains unless a significant amount is burned.
🔹 Where to Buy
