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What is Shiba Inu (SHIBA)?

 What we are talking about here is not investment advice.

Recently, SHIB, which is a favorite coin of crypto currency investors, began to mention its name in 2021. SHIB, which has gained a place in the crypto currency market with the support of Elon Musk and Reddit along with individual investors, has indeed announced its name as the dogecoin killer.

What is Shiba Inu (SHIBA)?

This coin from the dog breed has created a crypto currency called Shiba Inu, which uses the abbreviation SHIB. According to the statement on the official website, the SHIB represents an experiment in creating a decentralized community.

However, apart from the market capitalization caused by the rising price and the growing community, it remains a controversial issue whether SHIB will indeed become a permanent cryptocurrency going forward. At the end of the day, SHIB is an Ethereum-based ERC20 token that is described as a “Dogecoin Killer” within the project community.

A total of 1 quadrillion tokens, 50 percent of SHIB's resource is locked into Uniswap as liquidity. But the whereabouts of the other half is an interesting topic. The SHIB team has sent 500 trillion tokens to Vitalik Buterin, the co-founder of Ethereum. It is possible to follow the transactions easily. While it is known who the founders of Dogecoin are, it is not yet clear who the founder of SHIB is. The anonymous founder stated the following on the subject in the project's Whitepaper:

We sent more than 50 percent of the total supply to Vitalik. As long as Vitalik Buterin does not block us, SHIBA will grow and become permanent.

SHIB has increased by 300 thousand percent since February 2021, and the value of the SHIB tokens held by Vitalik Buterin has become much more valuable than the ETH he owns. As of the time of writing, the ETH owned by Buterin is worth about $ 1.4 billion, while the SHIB in his account is worth about $ 15 billion.

It is worth noting that some of the supplies of other dog-themed tokens, such as Akita Inu and HUSKY, following in the footsteps of Shiba Inu, also sent to Vitalik. In addition to the 50 percent held by Buterin, there are two other wallets that collectively hold 10 percent of the supply and risk creating serious price drops if they decide to sell these coins to the market.

Shiba Inu consists of three tokens as SHIB, LEASH and BONE. When the decentralized exchanges Shiba Swap are ready to pass certain security tests, users will be able to earn rewards by sharing their tokens. To stake SHIB, users receive xSHIB and LEAP – for xLEASH and BONE – for stake, tBone. As for the White Papaer, the incentives appear in the following picture: There are also incentives for XLEASH and tBONE owners.

How to buy Shiba Inu?

Due to the rise leading crypto currencies which have taken place between Shibin, the world's largest crypto currency exchanges on Binance Huobi, OKEx, KuCoin, such as through exchanges to purchase.


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