Shiba Inu SHIB Price

Table of contents

• Stock Market Price Graph Today
• Current Value and Cost
• All Time High Price
• Exchange Rates on Trading Markets
• Shiba Inu Profile
• History of Shiba Inu
• Shiba Inu's TechnicalBasis
• Shibaswap
• Shiba Inu Mining
• Ilon Musk's Influenceon Shiba Inu
• Difference BetweenShiba Inu and Dogecoin
• Popularity of ShibaInu
• Shiba Inu issuance
• Shibarium
• SHIB Investing

Shiba Inu Profile

Shiba Inu was launched on the Ethereum blockchain on the ERC20 standard and it is an alternative token that does not have its own blockchain. Shiba Inu has grown in popularity largely due to its unique ecosystem and dog-themed design, coupled with speculation on its price by retail investors and the active participation of the community of the coin.

This digital asset was inspired by the Japanese dog breed of the same name, which caused a viral meme trend in 2013 and later led to the creation of another well-known cryptocurrency, Dogecoin (DOGE).

The main feature of Shiba Inu cryptocurrency is the absolute community involvement. Most digital assets are influenced by the development team, at least partially. With Shiba Inu, the community has a monopoly. Moreover, the development team had no percentage of assigned tokens, making it one of the first cryptocurrencies with decentralized token offerings.

Shibaswap

Shibaswap is a decentralized exchange, or more specifically a type of peer-to-peer trading platform similar to Uniswap, which allows users to trade SHIB and other cryptocurrencies without an intermediary company. It also allows users to provide liquidity and place tokens to earn interest using SHIB, LEASH and BONE tokens on the ERC-20 platform that exist in the Shiba ecosystem.

Stakes in any of the pools can generate a lot of revenue over time, but 66% of the profits will be locked in for six months. This rule was introduced to prevent users from selling the received tokens immediately and bringing the rate down.

ShibaSwap (BONE)

Ilon Musk's Influence on Shiba Inu

Like DOGE, Shiba became popular immediately after launch, but its price remained at the same level for about eight months, when nothing was happening. The coin failed to gain value in the beginning but began to recover around the time Tesla CEO Elon Musk and other famous personalities began to be interested in Dogecoin.

In March 2021, Elon Musk published a post on Twitter about his intention to buy a Shiba Inu dog, the symbol of Dogecoin. It seems that traders decided that this meant a new token Shiba Inu, leading to mass purchases of this product.

Shiba Inu issuance

The total number of SHIB tokens equaled to 1 quadrillion. This production significantly exceeds other cryptocurrencies: due to the large number of units, the token price is significantly lower compared to assets with a similar market capitalization.

50% of SHIB were blocked on the Uniswap platform to reward liquidity providers in Shiba pools on DEX. The other half was sent to Vitalik Buterin, the creator of Ethereum. Ryoshi hoped that Buterin would not sell the tokens: that would devalue SHIB. By May 10, 2021, the ETH creator's stake was worth billions of dollars.

Buterin decided to donate 20% of his tokens worth over $1 billion (10% of the total issue), dividing it between two charities. The name of one of them has not been disclosed, and the other is the COVID Foundation of India. This became the largest donation using cryptocurrencies and brought enormous popularity to the project.