SHIBA INU (SHIB) - a token on the Ethereum blockchain that has grown in popularity, thanks in large part to its unique ecosystem and dog theme, as well as the active participation of the coin community.
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About the SHIBA INU (SHIB) project
The SHIBA INU (SHIB) coin was created anonymously in August 2020. The digital asset was inspired by the Japanese dog breed of the same name, which sparked a viral meme trend in 2013 and subsequently led to the creation of another well-known cryptocurrency, Dogecoin (DOGE). The project aims to be an analogue of the Srypt-based Dogecoin mining algorithm on Ethereum.
The SHIB token is part of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS) and Alaskan Malamute Token (LASM). Shiba's success has sparked an avalanche of imitators such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba and countless others. In total, there are over 100 copies of Shiba Inu and their number continues to grow. In September 2021, Coinbase, the largest US crypto exchange, added the coin to its platform. This news caused the price of the token to rise by more than 40% over the next two days and again attracted attention.
Project benefits
The development team is making efforts to provide more value to SHIB owners. So, in July 2021, the developers launched a decentralized exchange. The SHIBA INU website invites artists to contribute to "Shiba art movements" as they bring their community to the NFT market. SHIBA has also created an Amazon Smile campaign to collect donations to save real dogs.
What is interesting in this project:
| 1 | The ultimate goal of the project - for SHIB to become a global stable currency that users can use in all countries both as a store of value and as a payment method. |
| 2 | In addition to SHIB, a financial ecosystem is planned and SHI will be added as a weighted pair of pools on Curve. |
One of the main benefits, contributed by SHIBA INU, is the increase in token burns, which sparked renewed interest in the token in early 2022. Bigger Entertainment, a crypto label, selling merchandise, NFTs and concert tickets, hosted a SHIB party that burned over 239 million tokens over Christmas. In total, since the end of October, the team has burned almost a billion coins.
Buying tokens
SHIB - an ERC-20 token, based on Ethereum, a proof-of-work blockchain, currently transitioning to proof-of-stake. To date, the company is developing its own second-layer solution, which will be more decentralized than Polygon or BSC. The token can be bought on:
- Binance;
- Huobi;
- Coinbase;
- Gate.io;
- Uniswap (V2);
- OKEx.
Popular price pairs include: SHIB/USD, SHIB/GBP, SHIB/AUD and SHIB/EUR.