Shiba Inu (SHIB) $SHIB is a cryptocurrency inspired by Dogecoin and uses the image of a Shiba Inu dog as its mascot. Created in August 2020 by an individual or group of individuals using the pseudonym "Ryoshi", Shiba Inu is often referred to as the "Dogecoin killer" due to its rapid rise in popularity.
Some important things about Shiba Inu:
1. Tokenomics:
- Shiba Inu has a very large total supply, namely 1 quadrillion tokens.
- Most of the tokens are locked in Vitalik Buterin's (Ethereum co-founder) wallet as a form of "burning".
2. Community and Popularity:
- Shiba Inu has a very active and loyal community, often referred to as the "Shib Army".
- Its popularity soared in 2021 due to celebrity endorsements and the meme coin trend.
3. Ecosystem:
- Shiba Inu is not just a cryptocurrency, but also develops its own ecosystem, including:
- ShibaSwap: Decentralized exchange (DEX) platform for token trading.
- Shiboshis: NFTs related to the Shiba Inu project.
- Shibarium: Layer-2 blockchain designed to increase scalability and reduce transaction costs.
4. Volatility:
- Like most cryptocurrencies, Shiba Inu is highly volatile and its price can change drastically in a short period of time.
Shiba Inu was initially considered a “meme coin” or joke project, but over time, the development team and community have worked to build utility and long-term value. However, investing in Shiba Inu or any other crypto asset remains high risk, so always do your research before investing.
Can Shiba Be In The Top 10 Again?
PERHAPS NOT
