Shiba Inu

SHIB is a decentralized meme token named after "Shiba Inu". It was created by an anonymous developer named Ryoshi in 2020 to replace Dogecoin (DOGE) in the Ethereum blockchain.

Memecoin first became a trend of market investment in 2021 after Musk's "Dogecoin" became popular. As a memecoin, Shiba Inu (SHIB) was considered "the next memec that is expected to beat Dogecoin" because of its low price, flexible transaction and huge investment potential. With the continuous development of the ecosystem, Shiba Inu (SHIB) has evolved into a proactive ecosystem. In the official white paper, Shiba Inu (SHIB) is described as "an experiment of decentralized spontaneous community construction".

The total amount of Shiba Inu (SHIB) is 1000 trillion. The founder sent half of Shiba Inu (SHIB)'s circulation (500 trillion) to Vitalik Buterin's private wallet on Ethereum. The remaining 50% is locked in uniswap for liquidity mining. At that time, Vitalik Buterin burnt 90% of SHIBs in his wallet and transferred the remaining 10% to the Indian COVID-19 relief fund initiated by Sandeep (the Polygon founder). Subsequently, the price of SHIB plummeted by 40% for a short time.

However, SHIB's goal is not only to be a "Dogecoin killer" under the meme concept, but also to expand the ecosystem, and even to be a "Shiba Inu that changes the world".

In July of the same year, ShibaSwap, the DEX under the Shiba Inu (SHIB) ecosystem, was officially launched. As a competitive product of Uniswap V2, ShibaSwap set the handling fee at 0.3%, and provided users with additional BONE tokens. After the launch, it also triggered the rise of Ethereum gas fee. Subsequently, Shiba Inu (SHIB) launched the SHIBOSHIS NFT series in October, with a total supply of 10,000. The project was sold out within 35 minutes after its release. In February this year, Shiba Inu (SHIB) officially launched the Shiberse project plan. ShibaLand, a real estate project, will serve as the breakthrough point and starting point for SHIBs to enter the metaverse. In addition, the Shiba Inu (SHIB) team also developed a queue system for Shiba Land sales to avoid robot abuse and possible gas fee competition in public sales.

How does Shiba Inu (SHIB) Work?

The Shiba Inu (SHIB) ecosystem is divided into multiple tokens to help the whole cryptocurrency ecosystem play its role:

There are three financial tokens in the Shiba Inu (SHIB) ecosystem: SHIB, LEASH and BONE.

Shiba Inu (SHIB) is the base token. SHIB has been launched on many trading platforms and has increased thousands of times. It is also the first coin launched on ShibaSwap.

LEASH is the second token encouraged on ShibaSwap, which will provide rich returns to the holders who provide their liquidity.

As a governance token, BONE will allow #ShibArmy to vote on the upcoming proposal on Doggy DAO. Its design is to perfectly match the first two tokens in terms of circulation and supply.

If users want to participate in mining and community governance, they can purchase it on ShibaSwap or other DEX, so as to obtain liquidity mining revenue, jointly manage or determine the development direction of Shiba Inu (SHIB).

What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a cryptocurrency based on Ethereum. SHIB features Shiba Inu and its logo. It is the basic token in the ecosystem and is also designed as a "Dogecoin killer". As the rise of Dogecoin in the market promotes and promotes the birth of other memecoins, it was launched by an anonymous individual or group named Ryoshi in August 2020.

The initial circulation supply of Shiba Inu (SHIB) was 1,000 trillion. Among them, 50% of the tokens are locked in Uniswap to create liquidity, another 50% of the tokens are transferred to the wallet of Vitalik Buterin, the co-creator of Ethereum, and 90% of the tokens are burnt. The remaining 10% are donated to charity.

In 2021, SHIB's price and earnings showed a thousand fold increase, which once caused a hot market and became one of the largest memecoins in the market.