Shiba Inu (SHIB) cryptocurrency appeared in August 2020. It was created by an anonymous person under the pseudonym Ryoshi (Ryoshi). The coin positions itself as a ”Dogecoin kille”, and its logo is a Shiba Inu dog, similar to the one displayed on the Dogecoin.
The community surrounding this cryptocurrency proudly names itself the Shiba Inu army. There are more than 120 thousand people in it. The “Woof Paper” -- an ironic term used to refer to Shiba Inu’s whitepaper -- states that the project started from scratch and that developers, designers, marketers and other team members had never worked together before. Naturally, the entire community of this coin loves Shiba Inu dogs.
Shiba Inu is developed on the Ethereum blockchain and it was chosen for a reason. The founder of Shiba Inu believes that unlike most other networks, Ethereum is truly decentralized, secure, and well established. According to the founder of Shiba, it allows the creation of free decentralized communities. As stated in the Woof Paper: “It allows us to be truly decentralized, unlike other 'fancy' coins“.The cryptocurrency is also waiting for ETH to scale, and ShibaSwap is poised to become the “most popular” cryptocurrency exchange with a focus on Ether.
Shiba Inu developers transferred 505 trillion Shiba Inu coins to Vitalik Buterin, the co-founder of Ethereum. On May 13, Vitalik announced that he was donating a large amount of these tokens to the fund to help India fight COVID. The SHIBA developers did not expect Buterin to sell his tokens. When Buterin's announcement became known, the price of Shiba Inu fell by 44%. The founder of Shiba Inu claims that they do not have any coins themselves.
You can buy Shiba Inu on Binance, Coinbase, Huobi, Gate.io, OKEx and Uniswap (V2), among others. Shiba Inu has the biggest supply of coins compared to other cryptocurrencies. There are almost 550 trillion coins in circulation. Shiba Inu gained massive attention in October 2021 when it increased in price several dozen times and even overtook Dogecoin by market capitalization. However, due to its “meme” nature Shiba Inu remains a highly volatile asset and shib coin live price today is very unstable.
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