What is Shiba Inu and How much does a Shiba Inu cost?
We all have been well known the name of a Japanese breed dog, ‘Shiba Inu , but it is also be understood that this name is now associated with one of the famous cryptocurrencies known as Shiba Inu, Also Shiba Inu dog’s face is adopted as an icon for dogecoin’s symbol.
So how does Shiba Inu become popular and come into the crypto world, there must be some factors and history related to the origin of this interesting coin, which is also known as Meme Coin, now let’s hope inside the Shiba Inu journey from being a dog name to the gaining popularity as a Meme Crypto coin. If you are interested in bitcoin trading check why authorities and governments are opposed to bitcoin .
What is Shiba Inu?
Shiba Inu is a meme coin that was introduced after the pump and dump scheme happened in the crypto world, for more information about the Pump and Dump situation, you can read our previous blog on it.
Now, let’s move towards its journey, Shiba Inu was created in August 2020 by Crypto trading enthusiast Ryoshi, the main code or coin which denotes the existence of Shiba Inu are SHIB, LEASH or BONE.
The ShibaSwap is the innovative reward system that has associated more than five hundred eight-plus Shiba Community under its regime.
Going behind the curtains, we can note that Shiba INU was started with a fixed supply of one quadrillion and then more than of the per cent was locked under Uniswap and the other half was burned in the name of safekeeping by Ethereum co-founder Vitalik Buterin.
Understanding the Shiba Inu
If we wish to explore more about Shiba Inu, the one thing through which we can start is with understanding the importance of Shiba Inu as the crypto token, as it is known as the foundational currency which permits the investors to hold up to trillions of Shiba Inu tokens inside their crypto wallet.
SHIB the native token has earned international verification as the currency and also its utility rate has been legitimized, now SHIB token is trying to expand its roots much deeper inside the world of crypto trading.
SHIB became the first listed incentivized token available on its Proprietary DEX ShibaSwap.
Different types of Tokens of Shiba Inu?
Shiba Inu is one kind of token that is divided into multiple tokens that help with the entire cryptocurrency to lead a settled Crypto ecosystem:
Shiba Inu can be categorized into three types of the main token which are as follow:
- SHIB- It is the foundational Shiba Inu currency which is the main token of this crypto ecosystem, it has facilitated its traders with the ability to store more than trillions of tokens.
- LEASH-This Token has a limited supply of one lakh seven thousand six hundred forty-six units, and is the most limited token, this is used for the incentivized and staking rewards helping invalidations of transactions.
- BONE- The Bone token is available as 250 million units and also it is useful for consensus mechanisms, like voting and some agreements or decisive proposals, etc., the other aspects of the Shiba Inu token is having a non-fungible token and supporting its Shib Army through expanding the popularity of its tokens.
Is Shiba Inu a good investment?
Shiba Inu came to rise during the pump and dump scheme, but it is not the only factor to which we must make our judgement that it will be proven as a good investment, there are lots of factors through which we have to look!
Like what are its prices? how is it falling and gaining rate, is there any predictability of it reaching out FOMO (Fear of missing out), Now in many cases most cryptocurrencies are not backed with any powerful assets.
So, it also makes a legal point to ponder, whether it will be right to invest in the token? If yes then how is the cash flow going to impact?
But looking at Shiba Inu, we didn’t find it having any backing options or cash flow. Now also Shiba Inu has a little price issue.
Shiba Inu is the newest launched token and has much surging interest about its investment future, however, it must be noted that making a good investment needs some background check and to understand the potential risks involved.