Shiba Inu Crypto Explained for Beginners

The Shiba Inu crypto is a decentralized digital currency that uses blockchain technology to secure and verify transactions.

It's based on a peer-to-peer network, allowing users to send and receive SHIB tokens without the need for intermediaries like banks or financial institutions.

SHIB is a decentralized currency held by millions across the globe.

It was created anonymously in August 2020 under the pseudonym "Ryoshi", who claims to be unimportant and that unmasking his identity would be underwhelming.

The Shiba Inu coin quickly gained speed and value as a community of investors was drawn in by its cute charm, paired with endorsements from notable personalities like Elon Musk and Vitalik Buterin.

Since release SHIB now trades on the ecosystem's proprietary DEX, ShibaSwap.

The Shiba Inu crypto has a unique decentralized organization model with no central leadership, which was successfully tested by Ryoshi and handed over to the community in mid-2021.

This experiment led to a surge in adoption, with SHIB briefly becoming the most-valued meme coin by market capitalization in October 2021. Robinhood executive Christine Brown praised the community's engagement and efforts.

The Shiba Inu ecosystem is expanding rapidly, with various applications such as ShibaSwap, a designated DEX that started as a fork of Sushiswap, and SHI, an algorithmic stablecoin pegged to one cent.

Here are some key features of the Shiba Inu ecosystem:

These features demonstrate the Shiba Inu community's commitment to building a utility for the token and creating a unique experience for its users.

Shiba Inu is a unique project that stands out from other cryptoassets due to its decentralized and community-driven approach.

Ryoshi, the creator of Shiba Inu, has successfully implemented a perpetual decentralized organization with no central leadership, leaving the token entirely in the community's hands.

The experiment was a success, and Shiba Inu briefly became the most-valued meme coin by market capitalization in October 2021.

This achievement is all thanks to the engagement of the Shiba Inu community, which made its wishes heard and drove the price surge.

The increased adoption across token holders can be seen in the data compiled by WhaleStats, where SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales.

Retailers have also started adopting SHIB as a means of payment, with American electronics retailer Newegg adding it at the start of December 2021 and partnering with crypto payments platform BitPay.

The Shiba Inu community has built a utility for the token and created an entire ecosystem, including ShibaSwap, a designated DEX that started as a fork of Sushiswap.

Shiba Inu also plans to develop SHI, an algorithmic stablecoin pegged to one cent instead of one dollar, which would become a global exchange of value for plebs.

Here are some key features of the Shiba Inu ecosystem:

The Shiba Inu ecosystem is designed to be more than just a meme coin, offering various features and benefits to its users.

With applications like Shiba Eternity, Shib.io, and Shiboshis, the project has created an engaging experience for its users, utilizing a loyal community and genuine innovation.

The Metaverse is a virtual reality project powered by non-fungible tokens (NFTs) where users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens.

Users can explore, earn passive income and collect in-game resources in this immersive environment.

There are 100,595 plots of land on SHIB: The Metaverse.

Take a look at this: Shiba Inu Coin Metaverse

You can buy Shiba Inu on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2) and OKEx, among other exchanges.

To check Shiba Inu price live in the fiat currency of your choice, use CoinMarketCap's converter feature directly on the Shiba Inu currency page or their dedicated exchange rate converter page.

The Shiba Inu price has been quite volatile over the past year. The live Shiba Inu price today is $0.000019 USD.

In just 24 hours, the price of SHIB can fluctuate significantly. It's up 0.30% in the last 24 hours.

At its peak in October 2021, SHIB hit an all-time high of $0.000088, a growth of over 8,000,000% from April that same year. This was largely due to the decentralised finance phenomenon and the crypto bull market.

The current CoinMarketCap ranking is #13, with a live market cap of $11,177,139,983 USD. The circulating supply of SHIB coins is 589,267,100,512,443.

Here's a brief overview of Shiba Inu's price history:

Keep in mind that past performance is not an indication of future results, so it's essential to conduct thorough research before investing real funds.

The Shiba Inu is a breed of dog that has been the mascot for the popular cryptocurrency Shib Inu since its creation.

Shib Inu was created as a meme coin, based on the popularity of the "Doge" meme featuring a picture of a Shiba Inu dog.

This breed is known for being small to medium in size, typically weighing between 15-25 pounds and standing about 13-17 inches tall at the shoulder.

The Shib Inu cryptocurrency has its own tokenomics, with a total supply of one quadrillion tokens.

Check this out: Shiba Inu Doge Death