SHIB/USD (1.22%)
The Shina Inu token was created in August 2020 by Ryoshi. The name stands for a dog breed that’s also been used in another famous token. SHIB is used online as a digital currency that people can trade and invest in.
A Bit About Shiba Inu
The mascot is one thing that keeps the conversation going about the Shiba token. Choosing the same mascot as Dogecoin makes some people skeptical about this token. However, it helps carry on the meme nature of Dogecoin. In fact, Shiba Inu views itself as a better version of Dogecoin, thus the nickname Dogecoin killer.
A decentralized meme token, evolving into a vibrant ecosystem.CryptoLists.com
SHIB is a token that takes its moniker from a cuddly dog with the same name. However, you should never confuse it with the similar canine-themed Dogecoin. It operates on a decentralized network through the blockchain. The blockchain database manages and tracks crypto, thus recording and verifying all transactions. It runs on the Ethereum blockchain, thus offering the functionality and safety of the platform.
Utility of Shiba Inu?
SHIB is divided into multiple tokens to help with the crypto ecosystem. Therefore, you can trade the token or use it as a medium of exchange. More so, it is only limited to 107,646 units, thus making it the most limited of all Shiba Inu-related tokens.
Currently, there are over 250 million units of the token. These units can be used to vote on different proposals. The coin also offers different aspects to its community, including the ShibaSwap. It’s a decentralized platform for trading Shiboshis (an NFT) and coins.
Shiba Inu Price details
ERC20 Contract address: 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce
›› Details & Tokenomics
›› SHIB tokenomics and social media
Advantages of Shiba Inu
+ The Shiba Inu token has a solid and fast growing community.+ SHIB has seen among the highest gains among meme coins.
+ ShibaSwap may help users earn returns.
+ They have their own blockchain now and don't only rely on Ethereum network.
Disadvantages
- It’s uncertain whether it will stay popular.- Not a lot is known about the developer.
- There is infinite competition in the meme token space.
- It's been going up a lot between 2023 and 2024.
Costs
▪ Rated at 9/10When trading the token, you will encounter different transaction or trading costs from the platforms. Binance is one of the cheapest, with a 0.1% trading fee. You will find a 0.08% or 0.1% free at OKEx.
The other trading platforms have higher charges with 0.5% at Coinbase and 0.2% at both Huobi and Gate.io. Since this is a ERC-20 token, the fees are higher than most other blockchains.
Reputation and Buzz
▪ Reputation rated at 9.5/10▪ Buzz rated at 10/10
The token has risen substantially during its existence. However, this doesn't make it an excellent investment for most people. Traders are looking to understand what they are buying, and they understand that the coin has the potential to rise or not in value.
The only way of currently making money with the tokens is to trade them. Therefore, the current key driver for this coin is speculation and optimism. This coin can be a brilliant investment if you practice the greater fool theory of investing as a trader.
The price is currently tiny, and some traders view this as a lottery ticket since they can easily afford it. You will come across people hoping for SHIB to go up even a single cent to cash in. while this might be the case in the future, the odds are high.
Shiba Inu token even have their own network, the Shib Ecosystem, and they have Shiba Swap is you like to swap the token.
FAQ
Is SHIB a good investment?
There are different answers to this question depending on who you ask. The token is like all the other cryptos with high volatility and risk.
Will SHIB get to 1 dollar?
Nothing is stopping the token from reaching 1 dollar, but it's a long way there. Currently, on 8th of February 2022, the market capitalization is 17.3 billion USD, making it the 13th highest valued cryptocurrency. The token is trading at around $0.00005 when writing this.
Is SHIB real?
Yes, it is. It’s an ERC20 token, and it can be sold, bought, and traded.
Screenshots from Shiba Inu
Related crypto site? Learn more about Binance
SHIB is a utility token for the exchange Binance, so it's worth reading more about the company behind below.Binance is a crypto-exchange platform founded by Changpeng Zao in 2017. The founder initially set it up in China but soon moved to Japan and later the Cayman Islands due to increased regulation from the two governments. However, it didn't stop them from growing. In 2 years, Binance grew to be the biggest crypto-exchange platform globally...
›› Read our full Binance review here or more directly at their website here.
Largest on crypto. Over 200 cryptocurrencies to trade, both currency exchange with a wallet, CFD trading, staking and much more.
›› Sign up at Binance here
More sites where to buy/sell/trade Shiba Inu
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Never speculate with money which you can not afford to loose. Cryptocurrencies exhibit significant volatility and remain largely unregulated within numerous European Union nations. They are not covered by European Union protections and do not fall under the purview of the EU's regulatory framework. Please be aware that investments in this sector are prone to market risks, which may include the total loss of the invested principal.
Remember to never risk money that you can not afford to loose. Crypto currencies is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
Shiba Inu details and tokenomics
Other tokens or coins to check out
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📋 Review Information
Last reviewed: March 25, 2024
Available official sources:
- Official website
- Whitepaper/Technical documentation
- Blockchain explorer
Disclaimer: This review is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before investing.
