The live price of Shiba Inu is - per (SHIB / USD) with a current market cap of $8.58B USD. 24-hour trading volume is - USD. SHIB to USD price is updated in real-time. Shiba Inu is -% in the last 24 hours with a circulating supply of 589,249.79B.
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Shiba Inu Coin (SHIB) is a decentralized meme coin created in August 2020 by an anonymous person or group going by the pseudonym Ryoshi. The coin was created on the Ethereum blockchain and is one of the most popular dog-themed cryptocurrencies in recent years.
The native cryptocurrency of the Shiba Inu Coin project is SHIB, an ERC-20 token. Transactions on the Shiba Inu Coin network are validated using a Proof of Stake (PoS) consensus mechanism. The SHIB Army is a community of SHIB holders and supporters, led by community members. The price of Shiba Inu Coin (SHIB) is updated live on Binance.
SHIB is not designed to be a currency, but rather a community token that can be used to interact with the Shiba Inu Coin ecosystem. The ecosystem includes a decentralized exchange called ShibaSwap, a non-fungible token (NFT) marketplace, and a metaverse called Shibarium.
The Shiba Inu team announced a project called Shib: The Metaverse in March 2022. The team said in a blog post on its official website that this Metaverse will provide Shiba Inu community members with a huge virtual environment that they can truly call home.
Non-fungible tokens (NFTs) will power the Metaverse. Community members can use ETH or SHIB tokens to make NFT-based crypto properties.
In the future, users can also use the ecosystem's other two tokens, BONE and ROPE, in the Metaverse. As the different stages of the Metaverse arrive, BONE and LEASH will play unique roles.
A total of 100,595 virtual lands are available for sale in the Metaverse. Of these, 36,431 were released on April 13, 2022, launching in sync with the introduction phase of the Metaverse.
Like other prominent Metaverse projects, Shib: Metaverse’s plots are divided based on the desirability of the location.
Plots in strategic locations are more expensive than other plots. They are divided into four tiers. Details and prices of each tier are as follows:
- Tier 1 (Diamond Teeth): 2,024 plots, each priced at 1 ETH.
- Tier 2 (Platinum Claws): 5,714 plots, each priced at 0.5 ETH.
- Tier 3 (Golden Tail): 7,356 plots, each priced at 0.3 ETH.
- Tier 4 (Silver Fur): 17,030 plots, each priced at 0.2 ETH.
In addition to the above, there are a total of 4,307 plots of land in the "private lock" layer (abbreviated as "hubs").
Shib: The Metaverse will be developed and released on Shibarium, Shiba Inu's upcoming Layer 2 (Larer-2) Ethereum scaling solution.
Another important development in the Shiba Inu ecosystem is Shibarium, the project's Layer 2 Ethereum scaling solution.
It aims to increase the speed of Shibarium transactions and serve as the main chain for various Shibarium-native projects. Shibarium's anonymous creator Ryoshi said in a blog post that he hopes Shibarium will achieve the following goals:
- Increase the transaction speed of Shiba Inu tokens and projects.
- Reduce or eliminate transaction fees.
- Allow for more low-threshold Shiba Inu coin NFT games.
- Facilitate the realization of the Shiba Inu Metaverse.
- Function as a foundation for decentralized application development.
The launch of Shibarium could have a positive impact on Shiba Inu's price action. In addition, once Shibarium is launched, all SHIB tokens will be migrated from Ethereum to the Layer 2 blockchain.
Finally, in August 2022, the project announced the launch of a game called "Shiba Eternity". This multiplayer collectible card game, featuring 1,000 shib-style cards, will be the first of many NFT games to be launched by the Shiba Inu ecosystem.
Shiba Eternity will be split into a classic mobile game and a blockchain-based NFT game, which will use Shiboshi NFTs.
The Shiba Inu Coin ecosystem consists of three main tokens: SHIB, LEASH, and BONE. SHIB is the native token of the ShibaCoin ecosystem. LEASH is a deflationary token pegged to the price of SHIB, which is intended to be used as a reward for liquidity providers on the ShibaSwap decentralized exchange. BONE is the governance token of the ShibaCoin ecosystem, used to participate in the governance of the ecosystem and earn rewards by staking BONE.
The maximum supply of ShibaCoin tokens at launch is 1 quadrillion. Half of them are locked in Uniswap for liquidity, and the other half is allocated to Ethereum co-founder Vitalik Buterin (V God).
While the move drew criticism from the crypto community, over time it became clear that Buterin had the best interests of the project in mind. Buterin donated 50 trillion Indian shillings, worth $1.5 billion, to the Indian COVID-19 Relief Fund.
A week after the donation, the Ethereum co-founder burned a record number of SHIB tokens: 410.24 trillion. About 41% of the supply was permanently removed from circulation.
Due to the staggering supply of SHIB, the community launched an initiative to destroy as many tokens as possible to make the cryptocurrency more scarce and thus increase its price.
The SHIB economic model relies primarily on two other tokens in the Shiba Inu ecosystem: LEASH and BONE. Like SHIB, LEASH and BONE are also ERC-20 standard tokens based on Ethereum.
The total supply of LEASH is 107,646 tokens, and the maximum supply of BONE is 250 million. The supply of BONE is larger than LEASH because holders can use it to propose and vote on changes to the ShibaSwap protocol. Users who provide liquidity to ShibaSwap can also receive BONE token rewards.
All three tokens can be tokenized using ShibaSwap. Once these tokens are staked, users receive a cryptocurrency representing their staked amount. These cryptocurrencies are xSHIB, xLEASH, and tBONE. One third of the BONE rewards are available immediately, while the remaining two thirds must be locked for six months.
Shiba Coin (SHIB) is a meme coin created in August 2020. It is inspired by the Japanese dog breed Shiba Inu, which is also the image of another cryptocurrency that originated from meme culture, "Dogecoin". SHIB is an ERC-20 token, which means it runs on the Ethereum blockchain. Its total supply is 589.59 trillion, all of which are currently in circulation.
Shiba is a meme coin built on the Ethereum blockchain. It was created in August 2020 to test the success of community-driven projects. Shiba is often called the Dogecoin killer, and it has an incredibly loyal following called the SHIB Army.
SHIB originally had a total supply of 1 quadrillion tokens until half was sent to Ethereum co-founder Vitalik Buterin. Buterin donated a portion of the remaining tokens, about 45% of SHIB's total supply, before destroying them. As of now, the total supply of SHIB tokens is about 589 quadrillion.
"Destruction" in cryptocurrency refers to the process of intentionally removing tokens from circulation, effectively reducing the total supply. For Shiba Coin (SHIB), destruction involves sending a certain number of tokens to a designated "destruction" address, making them no longer accessible and usable. This process reduces the total supply of SHIB, potentially increasing its scarcity and value. However, it is important to note that destruction alone cannot affect the price without a unified, large investment in tokens.
SHIBA INU’s white paper lists three reasons why the development team created SHIB:
“We started from scratch and had nothing.”.
“The smart people behind SHIB have never worked together before.”.
“We love Shiba Inus.”.
SHIB can be used as a store of value, including as a tradable cryptocurrency to facilitate global payments. SHIB can also be used on its native decentralized exchange (DEX) ShibaSwap. SHIB and other ecosystem tokens such as community governance token BONE and another ERC-20 token LEASH are said to be best purchased on ShibaSwap.
There are already some online retailers and service providers that accept Shiba Inu Coins, and more may be supported in the future. As of the time of writing, there are some merchants that accept Shiba Inu Coins as a means of payment, including Whole Foods, Gamestop, Nordstrom, Petco, Sling, Hostkey, etc.
After the R&D team brought the SHIBA INU community to the NFT market, they invited artists from all over the world who were inspired by dogs to promote the sustainable development of the "Artistic Shiba Inu Movement" through the SHIBA INU official website.
In addition, SHIBA INU has also launched a campaign using Amazon Smile to raise donations with the Shiba Inu Rescue Association to rescue real-life Shiba Inus.
The price of Shiba Inu Coin (SHIB) is constantly changing, so it is difficult to give a clear answer. It is crucial to do your own research before investing in any cryptocurrency. There are various factors that affect the value of Shiba Inu Coin, including the overall cryptocurrency market, news and major events, and the activities of whales.
The crypto market is known for its volatility, so before adding crypto assets to their portfolio, one should study all available statistics. Many times, technical analysis comes in handy. We have prepared a technical rating for SHIBA INU (SHIB): Today its technical analysis shows a sell signal, According to the 1-week rating, SHIB shows a sell signal. You'd better dig deeper and take a look at the 1-month rating — which is a sell. Get inspiration from SHIBA INU trading ideas and follow the developments of the cryptocurrency market with our cryptocurrency news feed.
You can buy SHIB directly on Binance using a credit or debit card, or you can exchange SHIB for other cryptocurrencies on the Binance exchange.
The Shiba Inu to other currencies exchange rate?
