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What Is SHIBA INU (SHIB)? - All You Need To Know

What Is SHIBA INU (SHIB)? - All You Need To Know
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Shiba Inu Coin or SHIB Coin - Know More About This New Viral Cryptocurrency

Shiba Inu (SHIB), also known as Shiba Coin/Token, is decentralized crypto developed in August month 2020 by a person known as Ryoshi. The Shiba coin or token dubbed the "DOGE killer" and was modeled after Dogecoin (Cryptocurrency) and has a market capitalization of over $7 billion as of May month 2021 year. The Shiba coin's price is reached nearly 400 trillion in crypto market circulation

Actually, any crypto coin other than a Bitcoin ( Top Cryptocurrency) can be called an Altcoin. For Example, Altcoins would be Ripple, Dogecoin, VeChain, etc. Over the past weeks, the price of Altcoins has increased significantly, even concealing the percentage earns by Bitcoin & Ethereum. 

Here, Altcoins have become more attractive investments for investors looking for fast profits. New crypto or Altcoin called Shiba Inu Coin / Token has recently been gaining mass attraction online. 

In this article, we'll take a look at what is Shiba Inu (SHIB) Coin Actually! 

What is Shiba Inu (SHIB) Coin?

SHIB coin real name is ‘Shiba Inu Coin.’ But everyone calls it SHIB coin for short.

Shiba Inu (SHIB), also known as Shiba Token, is decentralized crypto developed in August Month, 2020 Year by a person known as Ryoshi. The Shiba coin or token dubbed the "DOGE killer" and was modeled after Dogecoin (Cryptocurrency) and has a market capitalization of over $7 billion as of May month 2021 year. The Shiba coin's price is reached nearly 400 trillion in crypto market circulation. It's a kind of dog breed that is the mascot for Dogecoin. Shiba Inu Coin is a cryptocurrency that is similarly themed to Dogecoin. Additionally, the Shiba Inu coin seeks to do more than it is the doggy-themed counterpart. Since the Shiba Inu Coin leverages a robust Ethereum blockchain network, the coin plans to become a vibrant Decentralised Finance ecosystem driven by their digital coin or digital token.

Shiba Inu coins will be used on Shiba Inu’s “ShibaSwap” trading platform, where cryptocurrency traders and users can stake their digital tokens for interest through staking rewards. Also, Shibaswap also has plans to integrate NFTs (non-fungible tokens) into their exchange platform after launch. 

There will be 3 various digital tokens native to Shiba Inu’s platform: 

Shiba Inu (SHIB)
Leash (LEASH)
Bone (BONE)

The first cryptocurrency coin, Shiba Inu token (SHIB) was listed on Uniswap and began crypto trading at essentially nothing happened. Here’s what you need to know about SHIB Cryptocurrency:

Shiba Inu token or coin, which is the 1st token launched in the Shiba ecosystem, can be bought on Uniswap Exchange. 50 percent of the total supply was put onto the DEX Uniswap by the Shiba founders, and the rest were burned in honor of Vitalik Buterin – Ethereum visionary. This type of creation providing is known as an initial DEX offering (IDO) where the founders release the coin or token through a decentralized exchange. Their last crypto coin is called leash and the most unstable stablecoin currently in existence.

ShibaSwap - Decentralized Meme Tokens that grew into a vibrant ecosystem

Fun cryptocurrency tokens
Artist incubator. 
Increasing 300k+ Community 

and more on the outlook!

What Is SHIBA INU (SHIB) Token? Everything  You Need to Know!

Crypto Trade, Sell or Convert your Shiba Inu Coins

When you want to convert your Shiba Inu coins you will need to use Uniswap exchange to convert your Shiba Inu tokens to Ethereum tokens. Once you swap the Shiba Inu token for the Ethereum token, the converted crypto tokens will be instantly credited to your Ethereum wallet connected to the Uniswap exchange, and you can send these digital tokens to any exchange that automatically supports Ethereum tokens to swap back into USD.

Is Shiba Inu a Good Investment?

Shiba Inu’s recent surge in token price is likely due to the hype over Dogecoin cryptocurrency more than anything else. Although ShibaSwap provides some interesting items, Shiba Inu tokens will be necessary for getting Shibaswap’s Bone digital tokens, so if you are thinking about Bone, then you will need to buy Shiba Inu coin. 

Dogecoin cryptocurrency started out as a joke aspect and now the original joke crypto coin has inspired a joke coin of its own cryptocurrency which is also just too meta. The latest joke cryptocurrency coin is called SHIB coin and billing itself as a DOGE Killer.

What Cryptocurrency Investors Need to Know About the SHIB Crypto

  • SHIB coin hails itself as an experiment in decentralized spontaneous community making. Indeed, SHIB crypto is looking to price in on the success Dogecoin (CCC:DOGE-USD) has had in this domain.

  • The SHIB crypto is the first coin released by the company’s founder, Ryoshi.

  • Other cryptocurrency or digital coin options coming include BONE, which is set to take the significant power of Decentralized finance(DeFi) to the next level.

  • SHIB crypto is currently available on Uniswap - a popular decentralized exchange. Founders are also testing their own ShibaSwap crypto exchange and hoping to launch it soon.

  • According to Shiba Inu’s business platform, 50% of the total supply was locked in Uniswap Exchange.

  • In addition to that, the rest of the things 50% was burned to Vitalik Buterin

  • The goal of these significant steps was to offer fair and 100% distribution, where developers no need to dump crypto tokens on the community in the future.

Where can I buy SHIB coin? 

As of now, SHIB coin can be bought on crypto trading platforms including Binance, Huobi, OKEx, and Uniswap.

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