Last Updated on August 5, 2023 by admin
Shiba Inu Meme Coin
To incur profits, one should always make financial investments after reasonable considerations and proper research. It’s up to you where you want to invest your hard-earned money. Regarding crypto and meme coins, the Shiba Inu meme coin has recently gained a lot of popularity as it provides excellent returns to its investors.
Meme coins are a type of cryptocurrency that draws inspiration from fascinating or humorous concepts represented in images, reels, or other media formats. To understand what is Shiba Inu, one can take it as a game of speculation, meaning that the returns or losses the investor may incur after investing in this meme coin are uncertain.
This meme coin was introduced in August 2020. Since then, it has turned out to be the second-largest meme coin and helps generate monetary value for the users. It is also known as a dogecoin killer. In today’s time, one can get 240 tokens of this currency at Rs.1.
Origin Of Shiba Inu
When you think about what is Shiba Inu, it might bring up ideas of an adorable and fuzzy Japanese breed of canine, but for crypto fans, it’s a whole other story. It is a beneficial alternative coin with a dog theme developed by Ryoshi, an unidentified developer.
Ryoshi chose Ethereum to launch his meme coin as it is a “safe and well-established” network. Shiba Inu can be decentralised; as a result, making it available to a vast user community. It is difficult to ignore Shiba Inu if you have even the slightest interest in cryptocurrency and the realm of virtual currencies. It is inspired by the Japanese dog breed and is widely popular on social media memes.
How Did Shiba Inu Gain Popularity?
Elon Musk, the creator of Tesla, can tip the balance in the cryptocurrency world with merely one tweet. His mysterious tweets may cause cryptocurrency values to increase or decrease. He posted this picture of a Shiba Inu on October 4, 2021, which caused the worth of the meme coin to increase. Prior to Tesla CEO Elon Musk and other significant figures starting to show interest in Dogecoin, Shiba Inu was comparatively obscure.
Shiba Inu Ecosystem
Three tokens make up the Shiba Inu ecosystem: the titular token (SHIB), which is its primary and most significant token, Leash (LEASH), and Bone (BONE). Shiba Inu (SHIB), the leading token in the ecosystem, has more than one quadrillion tokens. However, you might be amazed to know that the creator of this meme coin, Ryoshi, owns zero Shiba Inu currency.
- SHIB- While half of the SHIB tokens were sent to Vitalik Buterin, the co-founder of Ethereum, the other half is kept in a liquidity pool. Buterin burned roughly 90% of his SHIB tokens, costing USD 6.7 billion, as he opposed holding onto the stake. He also contributed USD 1 billion to charity to support the India Crypto Covid Relief Fund, which worked to combat the COVID-19 epidemic there.
- LEASH And BONE- Apart from Shib, these are the two consecutive tokens. The LEASH tokens come in second and are valid for trading on the ShibaSwap network. Lastly, users can acquire BONE, which has a somewhat different purpose. The Shiba Inu governance token enables Shiba supporters, often known as the “SHIB Army,” to participate, evaluate proposals, and take decisions.
The Shiba Inu webpage details the ever-expanding ecosystem that exists on Shiba Inu. The SHIB ecosystem consists of an exchange, an incubator for artists, and several NFTs. In light of this, it would be a sensible decision to invest in SHIB after examining the important factors.
Conclusion
Either Coinbase or eToro is the preferred medium for purchasing Shiba Inu. Both platforms allow users to trade with as little as a $10 downpayment. Shiba Inu is entertainment-based, and given its market cap, it might appear valuable. After proper research and calculations, you can quickly earn money with the Shiba Inu cryptocurrency.
