The first meme cryptocurrency was created in late 2013. Since that time, numerous other kinds of such crypto have appeared worldwide. Under Forbes, more than 200 various meme cryptocurrencies are in the world nowadays. And one of the most popular ones is Shiba Inu. Using, e.g., the link https://cryptotracker.com/price/shiba-inu, blockchain lovers may find the current rate of this crypto.
Although SHIB is a pretty young cryptocurrency, it has its own ecosystem. Moreover, it’s considered a completely decentralized crypto. Nay, this crypto is among the 12 most popular cryptocurrencies worldwide. But no one knows its founder’s name. Shiba Inu holders only are aware of the nick of the SHIB development team leader, called Ryoshi. So, who is it?
What Is Known About Shiba Inu?
This crypto project was launched in the summer of 2020. The cryptocurrency was named after the eponymous Japanese dog breed. Anonymous creators call SHIB ‘the Dogecoin killer’. This is because they desired to surpass DOGE in capitalization. The described cryptocurrency developers claimed they could repeatedly outstrip Dogecoin even with a rate of up to $0.01.
Key Shiba Inu Parameters
The specified crypto offers its holder a limited number of coins. Moreover, SHIB creators didn’t provide blockchain lovers with the opportunity of this cryptocurrency’s traditional mining. However, Shiba Inu holders can make money through the liquidity pool of the ShibaSwap exchange. The latter was made by SHIB developers. The essential Shiba Inu technical parameters are:
- daily cash flow – nearly $170 mln;
- overall cap – about $6.1 bln;
- highest exchange rate (October 2024) – almost $0.000082.
SHIBA creators issued one quadrillion coins. But only 589 trillion of them are available to dealers. That’s because the Shiba Inu developers sent 50% of the coins to the Uniswap exchange and another part to Vitaly Buterin. The latter is an Ethereum co-founder.
Is V. Buterin a SHIBA Project Owner?
Vitaly received about half of Shiba Inu coins. And now, it’s time to note that SHIB was made based on the Ethereum blockchain. Moreover, Ryoshi called ETH the only really decentralized crypto worldwide. So, that’s why numerous experts consider V. Buterin the Shiba Inu project owner.
Vitaly blocked 90% of received SHIB coins. And the remaining ones he pledged to donate to charity. So, the ETH co-founder sent 50 trillion Shiba Inu coins to the Indian COVID Relief Fund within this campaign.
Is It Worth Investing in SHIB?
In terms of future prospects, Shibcoin has a lot going for it. Its popularity as a payment method is only going to grow in the coming years, as more and more people become aware of its advantages. Meanwhile, the coin’s strong community backing means that it will be well-supported by developers and other stakeholders. All in all, the SHIB coin seems like a solid investment option with plenty of upside potential.
Whoever owns this crypto project, Shiba Inu is a pretty promising asset to invest in. This is because Robinhood added the crypto to its available cryptocurrencies for trade. So, specialists expect that SHIB will rise five times by 2025. Other experts say that Shiba Inu may even reach $0.01.
Moreover, wealthy traders invest in the described crypto. For example, some nameless dealer purchased almost 50 billion SHIB in October 2024. Thus, this trader invested about $1.2 mln in Shiba Inu.
Furthermore, SHIB developers announced the intention to make the best decentralized crypto ecosystem worldwide called DECO. They created additional coins named Bone and Leash within this campaign. Also, they issued NFT coins. So, the specified crypto project has promising prospects. Blockchain lovers may find more details on this topic, e.g., on CryptoTracker.com.
What are the benefits of SHIB?
SHIB is a cryptocurrency that offers a number of benefits. Here are three of the biggest:
- Low fees: Unlike other cryptocurrencies, SHIB charges very low fees for transactions. This makes it a great choice for people who want to use cryptocurrency but don’t want to spend a lot of money on transactions.
- Fast transactions: SHIB’s fast transaction times make it a great choice for people who need their transactions to go through quickly. This means that you can easily use SHIB to buy goods and services online.
- Security: One of the main benefits of SHIB is its security features. The cryptocurrency is backed by real world assets, so it has a high level of security compared to other cryptocurrencies.
- If you’re looking to buy or sell shares in Shibboleth, there are a few things you need to know. First and foremost, you’ll need to find a broker who specializes in the market for SHIB. There are many brokers out there, so it’s important to do your research and find one that has a good reputation. Once you’ve found a broker, you’ll need to set up an account with them. After you have an account setup, you’ll need to deposit money into it in order to buy or sell SHIB. Finally, once everything is set up, it’s time to start trading!
Conclusion
If you’re looking to get into the cryptocurrency market, then you need to be aware of SHIB. This up-and-coming digital currency is quickly becoming one of the most popular options on the market, and for good reason: it offers a variety of unique benefits that make it an attractive choice for investors. In this article, we’ve taken a closer look at what SHIB is all about and explained how you can buy and trade this exciting new currency. So f you’re interested in getting involved in the cryptocurrency market, then SHIB may well be the perfect option for you!
