shiba inu what is it

Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person or group known as “Ryoshi”.It is a meme coin launched as a rival of Dogecoin or “Doge-Killer”.Well, Shiba Inu has been one of the best performing cryptocurrencies of 2021. It is still one of the top #15 largest cryptocurrencies by marketcap.

It is named after the Shiba Inu (柴犬), a Japanese breed of dog originating in the Chūbu region, the same breed that is depicted in Dogecoin’s symbol, itself originally a satirical cryptocurrency based on the Doge meme.

While Shiba Inu was first known as an alternative to Dogecoin, it has a key difference. Shiba Inu is built on the Ethereum (CRYPTO:ETH) blockchain, so it can run smart contracts. Through smart contracts, Shiba Inu can work with decentralized applications.

From its inception, Shiba Inu has done things differently. Starting with a supply of 1 quadrillion, our founder, Ryoshi, locked 50% in Uniswap, then “burned” the other half to Ethereum co-founder Vitalik Buterin for safekeeping.

The Shiba Inu token is our foundational currency that allows investors to hold millions, billions, or even trillions, of it in their wallets. Between its international recognition and its legitimate utility, SHIB is up thousands of times and is constantly expanding its reach. SHIB is the first to be listed and incentivized on ShibaSwap, our proprietary DEX.SHIB, LEASH, and BONE, come together to create ShibaSwap, the next evolution in DeFi platforms. ShibaSwap gives users the ability to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns through our sophisticated and innovative passive income reward system.

Liquidity Locked to Uniswap
India’s Covid Relief Fund
Vitalik Buterin Burn

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.

Shiba’s success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.

shiba inu Frequently Asked Questions :

Who Are the Founders of SHIBA INU?
The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto.According to Ryoshi, the end goal is that SHI becomes a global stable currency “that plebs across all countries are able to use as both a store of value and method of payment.”

Is Shiba Inu a coin or token?
If you still don’t know Shiba Inu, it is an Ethereum-based altcoin or meme coin that features the Japanese dog breed Shiba Inu as its mascot.

Is Shiba Inu the same as Dogecoin?
The tale of two dog-themed coins , Both DOGE and SHIB were created as a joke, and they have the same dog, a Shiba Inu, for a mascot. However, this is where the similarities end. Dogecoin: DOGE was created in 2013 by engineers Billy Markus, then an employee at IBM, and Jackson Palmer from Adobe.

what do token burns do ?
“Burning” crypto means permanently removing a number of tokens from circulation. This is typically done by transferring the tokens in question to a burn address, i.e. a wallet from which they cannot ever be retrieved. This is often described as destroying tokens. A project burns its tokens to reduce the overall supply.

Does Shiba Inu burn tokens?
Shibburn is created for Shiba investors to burn their tokens. In the platform, burns are calculated using three special addresses, two dead wallets, which have no obtainable keys, and tokens sent to the Genesis address to reduce the supply.

Why do Shiba tokens burn?
This is an important moment for the Shiba Inu community or commonly known as ShibArmy to strengthen the token project. For information, burning or burning coins is an effort to reduce the supply of coins from circulation. Usually the burning also boosts the value of the burned coins as did Ethereum some time ago.

Does Shiba Inu coin have a future?
Most experts agree that the Shiba Inu token has a future, as it has active support from the community. If the Shiba Inu price continues to rise at its current rate, it will be an incredibly worthwhile investment.

How many Shibusd are there?
394 trillion SHIB

Shiba Inu website ?
https://shibatoken.com

Shiba Inu Price Prediction 2022 ?
Shiba Inu Price History ,Shiba Inu was launched on August 1, 2020. The price of 1 unit of the asset cost $0.00000000051. At the time $100, was 196,078,431,372 SHIB. But, Shiba Inu broke into the limelight in April 2021 with the markets’ historic high at the time. This created a perfect opportunity for the self-proclaimed “Dogecoin killer” to thrive. Since then Shiba Inu has become known as one of the most undervalued cryptos on the market.