SHIBA INU is known as a Dogecoin clone and, just like DOGE, it has carved out a place for itself in the market as a joke coin.
What is SHIBA INU (SHIB)?
According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on its own decentralized exchange, ShibaSwap.
The Shiba Inu cryptocurrency was anonymously created in August 2020 under the pseudonym “Ryoshi”. A community of investors was drawn to the cryptocurrency’s cute appeal, matched with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin, leading the joke coin to rapidly gain value.
Shiba Inu aimed to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a group of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM).
The SHIBA INU website invites artists inspired by dogs from all over the world to promote the “artistic Shiba movement” while bringing SHIBA INU communities to the NFT market.
SHIBA INU also created a campaign using Amazon Smile to collect donations for the purpose of rescuing real, live Shiba Inu dogs in cooperation with the Shiba Inu Rescue Association.
According to the SHIBA INU WoofPaper, the team behind SHIB has three mottos for creating it:
- “We started from zero, from scratch.”
- “The brilliant minds behind Shib had never collaborated before.”
- “We love Shiba Inu Dogs.”
In addition, according to the 22-page WoofPaper of SHIB, SHIB is currently based on Ethereum, a blockchain that is transitioning to a proof-of-stake algorithm from a proof-of-work blockchain.
Review of SHIB Coin
It can be stated that opinions on Shiba Inu vary. Some investors believe that SHIB will experience significant price increases in the future and has some purposes unlike Dogecoin.
On the other hand, some investors particularly avoid the SHIB token and expect it to experience a significant decline in the future. Some even say that SHIB will be completely erased from the market.
At this point, it could be useful to look at the current and past data of SHIBA INU.
According to CoinMarketCap data, the SHIBA INU coin ranks 39th in terms of market capitalization with $2,563,739,938. In addition, at the time the article was prepared for publication, the SHIBA INU Coin, which was trading at $0.0000064, had a 24-hour trading volume of $416,528,669 USD. Also, the SHIB Coin broke its all-time record on May 10, 2021, with $0.000038.
In addition, there are currently 394,796 SHIB in circulation, and it is stated that the total supply of SHIB Coin will be 1,000,000,000,000,000 SHIB.
How to Buy SHIBA INU Coin?
SHIB Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy SHIB Coin, one must first sign up for Binance and then send fiat money. After sending a fiat currency such as Turkish Lira or dollars, a purchase transaction can be made in the BUSD and Tether (USDT) SHIB trading pairs where SHIB Coin is traded.
In addition, users can place a buy order at Binance not only at the market price but also at a lower value. To do this, simply use the Limit tab and enter the amount and price you want to buy at.