Shiba Inu is known to many as a meme cryptocurrency. The founder of the coin is known under the pseudonym Ryoshi. Shiba Inu was created in August 2020 but has gained a huge following due to the comparisons to Dogecoin. Shiba Inu is built on the Ethereum blockchain. Many people view Shiba Inu as a meme coin, but it has several different uses cases. The Shiba Inu community has long term goals for ShibaSwap, Shibarium, ShibaNet and the Shiba Inu Ecosystem.
ShibaSwap is the name for Shiba Inu’s decentralized cryptocurrency exchange. The goal of this exchange is to ensure cryptocurrencies stay decentralized. This exchange will allow users to exchange cryptocurrencies, buy NFTs and join liquidity pools.
Shiba Inu the cryptocurrency has a total supply of 1 quadrillion tokens. So far 50% have already been burned and this coin is known as the Dogecoin killer because this coin has the capabilities to outpacing Dogecoin without even reaching $0.01. $SHIB was first listed in the ShibaSwap and since has been listed on Coinbase. Holders of the Shiba Inu token will be able to Bury (Stake) or Dig (Farm) their tokens. The tokenomics are explained below.
Leash is known as the second token in the Shiba Inu ecosystem. $LEASH’s tokenomics are the opposite of $SHIB. SHIB was created with the intention of having a large supply (1 quadrillion tokens) while the supply of Leash is only 107,647. Leash is a unique token created with a very low number of tokens, the current price of $773 will only increase. The incentives for Leash are as follows:
$BONE is a unique cryptocurrency that fits perfectly in the Shiba Inu ecosystem. Bone is only available on ShibaSwap and has a total supply of 250 million. Bone is a governance token for the Shiba Inu Community, the more BONE a user holds the more weight their vote carries. Holders can also Bury or Dig their BONE for incentives.
SHIB can be used in several different locations worldwide. People can currently pay for items on Amazon with SHIB. There recently was an announcement of a new partnership brining $SHIB to Shopify and WooCommerce. It’s crazy that the Shiba community started recently with a one sole idea of not having a centralized team, zero funding and zero direct leadership. Shiba Inu is one of the first fully decentralized communities and the tokenomics behind the ecosystem will allow the community to thrive and grow. Shiba Inu doesn’t allow wallets from exchanges to received any returns from ShibaSwap. The community truly believes that your wallet equals your returns. When Ethereum 2.0 is complete it will only increase the value of the Shiba Inu network. Over the next year hundreds of cryptocurrencies should be added to ShibaSwap and a new token to called TREAT will be added to the Shiba Inu ecosystem. NFTS will also becoming to ShibaSwap! It is still very early to fully understand how big the ecosystem of Shiba Inu will be, but it’s a wonderful time to invest due its special tokenomics.
References
“Shiba Inu Whitepaper.” SHIBA INU Whitepaper, https://whitepaper.io/document/758/shiba-inu-whitepaper.
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Shiba Inu token has soared a whopping 55 per cent to $0.00001312 in the last 24 hours.
The market cap of Shiba Inu has raced past the $5.22 billion mark. The token had hit a high of $0.00001482. The Shiba Inu ecosystem will continue to grow.
$SHIB has just overtaken coins like $LINK and $ATOM in terms of market cap.
It’s also nearly double the market cap of $FTT.
Must have great fundamentals.
This one is not for me.