Shiba Inu Price (SHIB)

0.44% (24 Hour)
$0.00000766

Shiba Inu Price Chart

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Shiba Inu (Key metrics)
Name Price 24 hr Market Cap Circulating Supply
coinGapeShiba Inu $0.00000766 0.44% $4,513,401,132 589,384,328,243,061

Shiba Inu Social Trends

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What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is an Ethereum based meme coin that features the Shiba Inu—a Japanese dog—as its mascot. Initially started as a fun currency Shiba Inu has now transformed into a decentralized ecosystem.

Dubbed “the Dogecoin killer” by its proponents, Shiba Inu is considered to be an alternative to Dogecoin. While Dogecoin was founded in December 2013, Shiba Inu was created in August 2020 by an anonymous individual (s) called Ryoshi.

 Ryoshi chose to build the Shiba Inu ecosystem on Ethereum because it was already secure and well-established, and it allowed the project to stay decentralized.

The initial total supply of SHIB was one quadrillion or 1,000,000,000,000,000 tokens. However, In May 2021, the pseudonymous creator (S) of SHIB, known as “Ryoshi,” sent 50% of the total supply to Vitalik Buterin. Vitalik Buterin is one of the co-founders of the Ethereum blockchain who burned almost 90% of his tokens immediately, suggesting he permanently removed them from circulation. Buterin donated the remaining 10 percent to charity.

There is no burning or halving method to lessen the supply of SHIB further. Meanwhile, there have been instances when Shib’s price reached record-high levels.

This price rise was mainly due to Tesla CEO Elon Musk’s social media post, which showed that the billionaire got a Shiba Inu puppy named Floki Inu.

How does Shiba Inu Coin work?

The majority of the meme currencies present no utility whatsoever. Shiba Inu, however, has a community-driven rescue crusade for Shiba Inu dogs and an ecosystem of products and services, including a decentralized exchange named ShibaSwap. The peer-to-peer (P2P) trading platform allows users to trade SHIB to and from other cryptocurrencies. Users can also offer liquidity and stake the ecosystem’s three tokens to earn interest.

The BONE token is a governance token having a total supply of 250 million. BONE holders can suggest and vote on changes to the Shiba protocol via the Doggy DAO. Besides, BONE is used to reward liquidity providers on the platform of ShibaSwap.

LEASH, or “Doge Killer,” was originally a rebase token pegged to dogecoin, where the protocol automatically accommodated its supply to keep its price aligned with doge at a ratio of 1:1000.

However, things have changed recently since the rebasing algorithm was removed. LEASH now serves as a store of value coins in the Shiba ecosystem with a fixed supply of just 107,647 coins.

Why was SHIBA INU Built?

The SHIBA INU Woof Paper describes three main reasons why they created SHIB:

  1. “We started from zero, with zero.”
  2. “The radiant minds behind Shib had never teamed before.”
  3. “We love Shiba Inu Dogs.”

The anonymous person (s) who built the Shiba Inu coin is known as “Ryoshi.” However, very little is learned of the mystery founder of the altcoin, same as the founder of Bitcoin, Satoshi Nakamoto.

What makes SHIBA INU different?

The surging price of SHIB is due to the efforts of the SHIB community to create utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem. According to Ryoshi, the ultimate goal is that SHIB becomes a global stable currency “that plebs across all countries can use as both a store of value and method of payment.”

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Shiba Inu Frequently Asked Questions (FAQs)

1. Where to buy SHIB?

You can buy Shiba Inu on Binance, Coinbase, BTCEX, CoinW, Huobi, Gate.io, Uniswap (V2), and OKEx, among other exchanges. Popular Shiba Inu price pairs include SHIB/AUD, SHIB/USD, SHIB/GBP, and SHIB/EUR.

2. What is the maximum limit of SHIBA INU (SHIB) Coins?

There is the highest limit of 589,735,030,408,323 SHIB. As of mid-2022, over 549,000,000,000,000 were mined.As per the SHIBA INU website, they locked half of the total token supply on Uniswap and "threw away the keys!" The other 50% was "burned to Vitalik Buterin." In reaction to the "gift" from the team of Shiba Inu, Vitalik Buterin sent 50 trillion SHIB tokens to India's Covid Crypto Relief Fund. Later, Buterin burned 40% of the entire supply to a dead wallet.

3.  How is the SHIBA INU network secured?

According to SHIB's WoofPaper, SHIB is an Ethereum-based ERC-20 token, a proof-of-work (PoW) blockchain presently transitioning to proof-of-stake (PoS). Ryoshi once announced that Shiba Inu would develop its layer-two solution that would be more decentralized compared to Polygon or BSC, which he regards as not genuinely decentralized. The Shiba Layer2 would be known as "Shibarium" and is thought to use BONE as its primary pair token.

SHIB
USD
Bitcoin BTC
$26257.007 +1.96%
Ethereum ETH
$1647.51 +0.82%
Tether USDT
$1 -0.01%
$216.912 +0.72%
USD Coin USDC
$1 -0.03%
XRP XRP
$0.503818 +1.18%
OKB OKB
$42.402 +0.45%
Cardano ADA
$0.258544 +0.87%
Dogecoin DOGE
$0.063721 +0.68%
Dai DAI
$1 -0.02%
TRON TRX
$0.079206 +0.32%