The establishment of ShibaSwap and the upcoming Shiba Inu Games and its very own metaverse will drive up the Shiba Inu price and value among cryptocurrencies. It could contribute to making it an attractive investment to consider. You can also choose to buy SHIB with your existing cryptocurrency holdings.
The developers of the Shiba Inu coin launched a decentralized autonomous organization called Doggy DAO at the start of 2022. The DAO allows the Shiba Inu community to vote on protocol proposals with their BONE tokens to steer the development of the Ethereum-built blockchain ecosystem. Shiba Inu is a decentralized blockchain ecosystem powered by a trio of native tokens – namely SHIB, BONE, and LEASH. The cryptocurrency project is named after a Japanese breed of dog called the Shiba Inu, which is the hunting dog breed depicted in Dogecoin’s logo symbol. The token holders can either bury their SHIB tokens and get xSHIB from the xSHIB pool or dig their holdings to get Shib-Eth SSLP share of the pool.
The Shiba Inu team launched a decentralized exchange called Shibaswap with 2 new tokens, LEASH and BONE. LEASH is a scarce supply token that is used to offer incentives on Shibaswap. BONE is the governance token for holders to vote on proposals on Doggy DAO. It has a circulating supply of 590 Trillion SHIB coins and a total supply of 1 Quadrillion.
What was SHIB highest price?
Shiba Inu's price has gone as high as $0.00007959 (which is SHIB's all-time high).
Shiba Inu price is based purely on trading as there is no standard global what is the value of bitcoin, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affects the price. Broader market trends have also played a role in SHIB’s price history.
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The lead developer of Ethereum ended up burning 90% of SHIB he received and donated the remaining 10% to charity. Additionally, the daily average number of SHIB tokens “burned” and sent to the dead wallet is around 150 million. The founder bitcoin and cryptocurrencies of the Shiba Inu community known under the nickname “Ryoshi” is anonymous. He hasn’t spent a penny on the project and doesn’t own any admin or team tokens emphasizing that he is just one of the community members with the same rights.
ShibaSwap lets users provide liquidity and swap SHIB for other ERC-20 tokens. A few minutes after your trade is executed successfully, you will receive your Shiba Inu tokens in your KuCoin trading account. You can store them on the exchange or transfer them to an external wallet for additional is binance safe security. The meme coin soon caught the eye of crypto influencers, including Tesla CEO Elon Musk and Ethereum’s creator, Vitalik Buterin. The cryptocurrency garnered more headlines in May 2021 when Buterin donated over 50 trillion SHIB coins to India’s COVID-19 relief fund.
Shiba Inu Historical Data
There are many things done by the project’s team which are out of the ordinary. The supply of their tokens is 1 quadrillion with 50% of them locked on Uniswap. From there the other half was burned by the co-founder of Ethereum to make sure it is kept safe. The token has since been used to help out India with their issues which followed Covid-19. Another thing to know is that in their quest to ensure long-term sustainability and success, the SHIBA team has burned 40 percent of the total supply of their tokens.
- Since its launch in 2020, the token’s circulating supply had nearly halved, primarily due to Buterin’s burning of the 500 trillion gifted SHIB tokens he received when the token launched.
- According to Shiba Inu developer Shytoshi Kusama, Australia will be the game’s final test country before it goes global.
- SHIB is an Ethereum-based token that has no native hard or soft forks unless crucial changes are made to the Ethereum protocol.
From the day it was created, Shiba Inu attempted to do things a bit differently when compared to other cryptocurrencies. It started with a supply of 1 quadrillion, where 50% was locked in Uniswap, while the other half was burned to Ethereum co-founder Vitalik Buterin. Available supply or circulating supply is the best approximation of coins or tokens in circulation and publicly available. The asset raised $19 million for the developers, outperforming assets such as Ethereum. TAMA has demonstrated an impressive level of investor demand by exceeding its presale goal much earlier than expected. The asset is about to be listed on centralized exchanges, so increased investor exposure should help it even more.
Furthermore, more than 4.5 trillion SHIB tokens have been transferred by the largest whales on Ethereum in the last 3 days. The Directional Movement Indicator also seemed to be showing the signal and plus DI line above 20 – A bullish move. The 6-hour timeframe highlighted an upward trend in terms of price action between September. To the exchange to generate daily interest over seven days, 14 days, or 28 days.
What is SHIB worth now?
The current price is $0.000011 per SHIB.
This project has led to an increase in gas fees due to the increased number of transactions on the Ethereum blockchain. This fee is not set in stone as they depend on the network’s congestion at that moment in time. The ShibaSwap exchange has trading and withdrawal fees but they are on par with some other exchange platforms. The tokens however can be traded on some supported exchanges and all of them charge trading and a withdrawal fee which varies from one exchange to another and might not be the same for each token. The network’s native DEX is a good place to start, but know that some of the exchange options would require you to swap another crypto token for SHIB, while others will allow you to pay with fiat currency for them. Peer-to-peer transactions would be the fastest way to purchase some SHIB tokens, as you would get them directly from one of the holders by sending an agreed amount in fiat currency to their bank account.