Everything About Shiba Inu
In this article, we describe exactly what Shiba Inu is, what its intention is, and what its future might be. We also talk about why the price of Shiba Inu has risen so much and made many people rich overnight. Then you will read the tips and advice of specialists about investing in Shiba Inu. And in the end, in addition to getting familiarized with the best Shiba wallets, you will learn how to buy Shiba Inc. Stay with us.
What is this? This is a question that, if you ask newbie and novice investors in the field of digital currencies, you will probably hear the answers: poor currency; The world’s best digital currency; Dodge Quinn rival; Future alternative to “Bitcoin!”; Currency that if I bought 2 million tomans, it would be 200 million tomans now; A currency that has a lot of room for growth and things like that!
Before reading the rest of this article, we recommend that you set aside all of the above definitions. Because we want to exemplify this from zero to one hundred with a very simple statement but logically and concerning statistics.
What is this?
Shiba Inu is undoubtedly one of the most contentious, newsworthy, controversial, and at the same time most successful digital currencies. That has just entered the world of these currencies. Like all digital currencies, Shiba Ino can be described in one sentence. As well as a multi-thousand-word article. If we want to describe this digital currency in one sentence, we must say:
Shiba Inu is an Ethereum-based ERC-20 token that takes its name and symbol from a Japanese dog breed of the same name.
This short definition is enough to discover some of the basic features of Shiba Inu. Shiba is a token ERC-20 -based Ethereum is; Therefore, this digital currency does not have its own as a token blockchain and is implemented on the Ethereum blockchain.
The token is also inspired by a Japanese dog breed called Shiba Inu. Due to its funny and smiling face, the Shiba Inu dog has become very popular outside of digital currencies and has become an internet meme to express emotions in the face of a strange event. So I Shiba use the name and image of this dog, it’s an ” M Quinn » (Meme Coin) converts.
The token was released in August 2020 by an anonymous developer nicknamed Rhyoshi. From the beginning, there was 1 quadrillion Shiba tokens, 50 percent of which Ryoshi in a decentralized locked ion-swap exchange and the other 50 percent to ensure network security. And performance Ethereum Vitalik Butrin creator. During the coronavirus epidemic, Vitalik Butrin sold 10 percent of his Shiba tokens to assist charities in India and sent the remaining 40 percent to an unusable or so-called “expired” address to decrease the number of Shiba tokens circulating. Help increase its value.
One of the interesting features of Shiba Inu is its similitude to Dodge Quinn. If you are a fan of digital currencies and follow the news about these currencies. You have probably heard the name Dodge Quinn and you know it. The Dodge Quinn is perhaps the most famous meme in the world of digital currencies. Which, thanks to the support of Elon Musk, the American billionaire and CEO of Tesla, experienced a significant price increase. And became the headline of one of the world’s cryptos and non-crypto news agencies.
Dodge Quinn is the world’s first digital currency motivated by the image of a dog as its symbol, using the same breed of dog. This digital currency was officially launched on December 6, 2013 (December 6, 1992) and is much older than Shiba Inu, which was created in 2020.
For this reason, many people considered Shibainu to be a simulated version of the Dodge Quinn. Intending to seize the opportunity to replicate the Dodge Quinn experience. However, the developers and the Shiba Inu team claim exactly the opposite.
They call Shiba Inu the Dogecoin Killer and describe it as a fierce rival to Dodge Quinn.
Whether this digital currency is a replication of Dodge Quinn or its killer. The truth is that the token is now very successful and has been able to take on an independent nature. At the time of writing, Shiba Inu has ranked rankings, not 13th Coinmarketcap far in behind Dodge Quinn, who is ranked 11th.
Therefore, it is better to examine the technical performance and ecosystem of this token independently, in addition to the reasons for its price increase.
How does this work?
Shiba Inu is a blockchain and community-based project that aims to provide a decentralized digital currency. This project, like all other projects in this field, has a key token called SHIB. Which can be used as a payment tool, value storage, and tool sharing in the Shiba Inu network.
However, the slope ecosystem is not limited to gradient tokens and its efficiency is much wider. Shiba Inu Network has a decentralized exchange called Shiba Swap. Where you can exchange your tokens without the need for authentication and just by connecting your wallet. Users can also provide Shiba Swap decentralized exchange liquidity and receive rewards in return.
In addition, the slope token is not the only token ecosystem token, and the network has two other tokens called LEASH and BONE, both of which are ERC-20 based.
Lish is the second token created by Shiba Inu and users can share this token. It is interesting to know that Lish is also known as Doge Killer, which means Dodge Killer. Lish may not reach the slope token in terms of popularity. But you should know that this token is the leader among the three token ecosystem tokens in terms of price increase per unit time. Only 107,647 Lish tokens have been created and sold, and this limited number plays an important role in increasing its value.
Bon Token is the governing body of Shiba Inu, which soon will enable to participate in the management of the Decentralized Organization members of its community Shiba Inu (DAO). The supply of bon tokens is not as limited as that of Lish tokens, and there are 250,000 of these tokens. Token Boon holders can vote on important changes to the Shiba Inu network. The more of these tokens you have, the more voting rights you will have. According to the official website of the project. The Token will Decentralized Finance raise Default to one level.
Shiba is also an initiative called ” incubator artists Sheba » (Shiba Artist Incubator) has offered the market a type of tokens Ghyrmsly (NFT) is. This innovation invites all artists who are interested in Shiba Inu dogs to bring their exhibits related to these dogs to this NFT market and display them.
In October 2021 (October 1400), the project team developed 10,000 NFTs called Shiboshi Ethereum on the blockchain and announced plans to release an NFT game called Shiboshi Game. They also unveiled a new token mechanism. The way this mechanism works is that if Shiboshi token holders want to change the name of their tokens. They have to pay a fee of $ 100 in the form of a slope token. The tokens received in this way will be burned. Which will help reduce the slope token inventory and increase its value.
One of the interesting points about the Shiba ecosystem is the terms used in this blockchain network. Shiba Inu has personalized many specialized terms in the field of digital currencies and changed them to fit their meme-like nature. For example, in the world of digital currency instead of the so-called White Paper, the so-called Woof Piper (WoofPaper) is used. Many other specialized terms such as equity, token exchange, liquidity reward. And user community have their equations in this network. In the table below you can see some common terms in the Shibaino ecosystem.
