How SHIB worksīeing an ERC-20 token, SHIB uses Ethereum’s proof-of-work consensus mechanism and can be held in any Ethereum-compatible crypto wallet. Making the most of the overall bullish market sentiment, Shiba coin registered an all-time high of over $0.000088 on Octorising more than 8,000% since April 2021. Thereafter, Shiba price dipped along with the crypto market.Īs can be seen in our SHIB live price chart, the token’s price sprung back to life only around October 2021. It was also the month when many other cryptocurrencies, including Ethereum, were recording their own respective all-time highs. 10, 2021.Īt that point, SHIB’s fully diluted valuation was over $13.5 billion. Thereafter, buoyed by market-wide positive sentiment, and SHIB listings on multiple exchanges like BKEX, MXC, BitMart, BitForex, and KuCoin, the token registered a strong rally to reach around $0.00004 on May. SHIB price chart mostly moved sideways up until February of 2021. Shiba Inu coin price in USD terms didn’t witness any noteworthy price action after its release, with Shiba price range-bound within $0.00000000016 to around $0.000000000056 till Nov. Whilst Shiba Inu began its journey as a decentralized meme token, it has gradually evolved into a vibrant ecosystem, comprising two more crypto assets - LEASH and BONE and the ShibaSwap DEX, along with the Shiba Incubator and Shiba Inu Rescue Association. Shiba Inu has a maximum supply of 1 quadrillion tokens, half of which were initially sent over to Ethereum co-founder Vitalik Buterin. According to his blog, he is “just some guy of no consequence tapping at a keyboard”. Like Bitcoin’s founder Satoshi Nakamoto, not much is known about Ryoshi either. The general consensus today is that SHIB was created by an anonymous person with the pseudonym, "Ryoshi. Initially, many believed that Vitalik Buterin was the actual creator of SHIB until he denied any such involvement during a Lex Friedman podcast in June 2021. Shiba cryptocurrency gained quick popularity as a potential ‘Dogecoin Killer’ post its launch and continues to rival Dogecoin (DOGE). Launched as an ERC-20 token on the Ethereum blockchain in August 2020, Shiba Inu coin (SHIB) is one of the two most popular canine-themed meme coins.
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