SHIBA Coin is named after the Shiba Inu dog associated with Dogecoin. Located close to Doge with the strategies and images he uses, Shiba Coin introduces himself as Dogecoin Killer. Shiba token, which, like Dogecoin, was created with the aim of jokingly, mentions that the project description on its official website is "a self-centered community building experiment".
What is SHIBA Coin?
SHIBA Coin; It is a token created by a software developer named Ryoshi using the ERC-20 standard in the Ethereum base. At an event in Osaka, Japan in 2020, Ryoshi talks to a close friend about cryptocurrencies, shares his vision with him and asks his friend for help in implementing this vision. Shiba Inu (SHIB) has a total supply of 1 city. In addition, 50 percent of its total supply is gifted by Ryoshi to Vitalik Buterin, founder of Ethereum. At the beginning of May 2021, Vitalik Buterin donates 10% of its Shiba Inu (worth $1.5 billion) to the India Covid Relief Fund. The rest is burned for use.
When Did SHIBA Coin Come Out?
SHIBA Coin is a decentralized cryptocurrency created by an anonymous person known as "Ryoshi" in August 2020. The so-called "DOGE Killer" cryptocurrency was released after Dogecoin and has a market capitalization of over $6 billion as of May 2021. Its price is quite low, allowing users to "buy billions or even trillions", currently about 400 trillion Shiba Tokens are in circulation.
Which Country is SHIBA Coin?
SHIBA Coin's country is anonymous. The Shiba Inu token is called the basic currency, which allows investors to keep millions, billions and even trillions in their wallets. Between its international recognition and legitimate benefit, SHIB rises thousands of times and continuously expands its reach. SHIB is the first person listed and encouraged on ShibaSwap, which has its proprietary DEX. Shiba Inu was created in August 2020 by an anonymous founder known as "Ryoshi" inspired by another cryptocurrency, Dogecoin. The token price at the time was insignificant until it reached $US0.000002 on April 20. On May 9, the price rose above $0.000009 to a peak of $0.0000388 on May 10. It currently has a market capitalization of over 13 billion, according to CoinMarketCap, the 14th highest market value in the cryptocurrency market. On the day Vitalik Buterin donates more than 50 trillion Shiba Tokens to the India COVID-Crypto Relief Fund, by May 13, the price drops by 40% to $0.000018.
How to Buy SHIBA Coins?
To get SHIBA Coin, you need to create accounts on cryptocurrency exchanges. SHIB is best purchased and sold through ShibaSwap. But it can also be found on Uniswap and an ever-growing CEX list. It should be noted that with the exception of ShibaSwap, exchanges that support one may not support the other. SHIB is a decentralized experiment and therefore, the use of DEX is always encouraged. If you choose to use a CEX instead, it is important to do research first to make sure it is safe. Besides ShibaSwap, SHIBA Coin is also listed on popular cryptocurrency exchanges such as Binance, OKEx, Huobi Global, FTX.
What Infrastructure Does SHIBA Coin Use?
The SHIBA Coin engine is the Doge impersonator of the Ethereum (ETH) blockchain launched under the ERC-20 standard and is traded on the decentralized Uniswap (UNI) network. Available from decentralized exchanges such as Shiba Inu, Uniswap, which can be purchased on many cryptocurrency exchanges, or from centralized crypto exchanges such as Gate.io, Poloniex and OKEx. This project calls itself the "Dogecoin killer". Whether SHIB co is reliable is a matter for investors. As with all cryptocurrencies, there are risks in SHIB co. It is not recommended for high investment as it is a joke and is in the trial phase. For buy-to-let investors, it is also not preferred as a coin that can bring profits in a short time. Therefore, it needs to be investigated very well before investing.
The awards are;
Although the SHIB Coin project has just made its name, it is known that it is the second token promoted in swaps in the first step and therefore will offer special rewards to liquidity providers in the future.
SHIB Coin offers quick order confirmations for cross-wallet transfers and trades.
On May 10, 2021, when SHIB Coin was first listed, it entered large, global cryptocurrency exchanges, reaching high availability. It is possible to trade with it from almost any area.
Cross-wallet cross-border transfer incurs transaction fees far below the costs incurred from Western Union transactions.
What are the Disadvantages of SHIBA Coin?
The competition is the most competitive.
As soon as SHIB Coin enters the market, its developers point to Dogecoin and announce that they are coming for competition. The fact that Dogecoin has improved so far and is receiving institutional investor demands can pose a risk to SHIB Coin price development.
SHIB Coin is at risk of attack on exchanges while stored in a virtual wallet. The risk is eliminated by choosing to store it in offline wallets.
Since SHIB Coin launched on May 10, 2021, the price bar is still low. Uncertainty has an impact on cryptocurrency due to the new output.
Very High Supply;
This coin has a total supply of 1,000,000,000,000,000,000, which makes it a highly risky crypto.
What are the Comments about the Future of SHIBA Coin?
Judging by the comments regarding the future of SHIBA Coin, it can be observed that it remains uncertain. Analysts say the near future of SHIB Coin could see short-term gains in value. It is stated that the cryptocurrency, which has just entered the market with the date of May 10, 2021, may receive interest from investors in the first step. It is expressed by analysts that those who want to experience SHIB Coin, which is announced to offer rewards by providing liquidity, can submit their purchase requests in May. Accordingly, the price of the SHIB Coin is thought to be between $0.000050 and $0.000055 at the beginning of June. Judging by the comments of analysts about SHIB Coin, it is observed that the nickname "Dogecoin Killer" is mentioned. Analysts say SHIB Coin is targeting Dogecoin with its release and will be competing with it in the future. This nickname is coin SHIB Coin developers themselves. Analysts commented that 50% of SHIB Coin's total supply is locked on the Uniswap exchange.
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