Shiba Inu (SHIB) is a meme-based cryptocurrency that started as a joke but has grown into a major player in the crypto space. It was created in 2020 as an alternative to Dogecoin (DOGE) and runs on the Ethereum blockchain as an ERC-20 token.
Key Features of Shiba Inu (SHIB):
Meme Coin with Utility: Originally a fun token, SHIB has developed a growing ecosystem.
Decentralized Exchange (ShibaSwap): Allows users to stake, swap, and provide liquidity.
Token Burn Mechanism: Regular burns help reduce supply and potentially increase value.
Shibarium (Layer-2 Solution): Aims to lower gas fees and improve transaction speed on Ethereum.
Shiba Inu Ecosystem:
SHIB: The main token, used for transactions and payments.
LEASH: A scarce token with limited supply, offering staking rewards.
BONE: Used for governance in the Shiba Inu ecosystem.
Shiboshis: A collection of Shiba Inu-themed NFTs.
SHIB Use Cases:
Accepted as payment by some merchants.
Used for staking and liquidity pools in ShibaSwap.
Can be burned to reduce supply and increase scarcity.
