What is Shiba Inu (SHIB)?
Shiba Inu is a cryptocurrency classified as a "meme coin" and was launched in August 2020 by an anonymous founder named "Ryoshi". It is known as the "Dogecoin killer" due to its similar goals to Dogecoin, but it runs on the Ethereum network, which gives it higher technical capabilities.
The most important features of the currency:
1. Strong and friendly complex:
Shiba Inu relies on significant support from its community, with marketing based on the appeal of the token (the Japanese Shiba dog) and the popularity of low-cost coins.
2. Burning mechanism:
The currency offers distinct burning mechanisms to reduce supply and increase value, such as burning fees generated by its projects like Shiboshi NFTs.
3. Environmental expansion:
Within the SHIB ecosystem, there are fork tokens such as LEASH and BONE, as well as plans to develop projects such as gaming and the metaverse.
4. Listing it on global platforms:
It has been listed on major platforms like Binance and Coinbase, which has contributed to its global popularity.
Disadvantages of the currency:
High volatility makes it a high risk investment.
Limited practical applications compared to real-world project currencies like Ethereum.
Her future project:
Shiba Inu is expanding into the fields of decentralization and non-fungible tokens (NFTs), introducing new trading platforms to enhance its practical uses.
You can find more information from Binance Academy and Satoshi.
