In the current cryptocurrency market, Shiba Inu (SHIB) is one of the most talked-about coins. Vitalik Buterin, Ethereum’s co-founder gave away a portion of the token and burned hundreds of trillions of the SHIB coin valued at over $6 billion. The price prediction of the Shiba Inu coin is eagerly awaited by investors seeking the next big cryptocurrency opportunity.
The Shiba cryptocurrency is a parody of Dogecoin, the joke currency that Elon Musk has embraced. The launch date is August 2020. In the same way as Dogecoin, Shiba is used for a variety of charitable purposes, including COVID-19 in India.
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What is Shiba Inu (SHIB)?
In August 2020, an anonymous developer under the pseudonym Ryoshi created Shiba Inu (SHIB), one of the earliest cryptocurrencies. The coin’s creator branded it as the “Dogecoin killer” and chose a Shiba Inu as its logo, another Dogecoin symbol.
In spite of SHIB’s attempts to equal and even exceed Dogecoin’s success as a meme cryptocurrency, both projects have some significant differences. The SHIB token is an Ethereum-based ERC-20 token. Aside from that, SHIB will serve as the internal token of the decentralized ecosystem of Shiba Inu, which will include a decentralized exchange called ShibaSwap.