SHIBA INU is on the rise this week.
The price of SHIBA INU has risen by 155.40% in the past 7 days. The price declined by 10.91% in the last 24 hours. In just the past hour, the price grew by 4.09%. The current price is NGN 0.028804 per SHIB. The new price represents a new all time high of NGN 0.028804.The current circulating supply is 549,095,509,738,353 SHIB.
What is Shiba Inu?
Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular meme coin. Unlike Bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a total supply of one quadrillion. The Shiba Inu Token ecosystem supports projects such as an NFT art incubator and the development of a decentralized exchange called Shibaswap.
Because SHIB is issued as an Ethereum token, it’s compatible with the vast Ethereum ecosystem. Advantages include compatibility with Ethereum wallets like Coinbase Wallet or Metamask, availability on decentralized exchanges (or DEXs) like UniSwap, the potential for SHIB to be incorporated into ETH-based Defi applications like lending and savings products and NFT marketplaces.
The token was created in August 2020 by an anonymous individual or individuals known as "Ryoshi." The coin's creator describes Shiba Inu in a white paper — or, in this case, "woofpaper" — as "an experiment in decentralized spontaneous community building."
Shiba Inu is a so-called meme token that bills itself as a "dogecoin killer." It takes its branding from the same internet meme dogecoin is based on, using the image of a Japanese Shiba Inu dog.
Shiba Inu is based on the Ethereum blockchain, which has become a go-to for numerous new token projects and a fast-growing trend is known as "decentralized finance," which aims to replicate traditional financial products like lending and trading.
Shiba Inu's creator claims not to hold any tokens. The cryptocurrency has a total supply of 1 quadrillion, according to data from CoinGecko. In May, Ryoshi sent half of the coin's supply to Ethereum creator Vitalik Buterin, who sent 50 trillion of the tokens to an Indian Covid relief fund. Buterin then destroyed most of his holdings and donated the rest to charity.
Visit the Shiba Inu Official Website
According to a report
"A crypto wallet shows an investor made an $8,000 shiba inu coin purchase last year. Today, it is worth $5.7 billion." - Yahoo News
Click Here to Check Shiba Inu Price, Contract Address On Coinmaerketcap
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