Shiba Inu Price (SHIB)

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$0.00002273-5.31%1D
OKX
SHIB
USD
1 SHIB =$0.00002273Last updated:
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About Shiba Inu (SHIB)

Shiba Inu, also known as SHIB, is an ERC-20 token inspired by the popular Shiba Inu dog breed. Launched in August 2020, the project aims to create a decentralized community without initial funding or direct leadership. The token is often referred to as a "Meme Coin" and has gained a large following, with over 120,000 token holders in the community.

The main use case of Shiba Inu is to establish a decentralized ecosystem through its platform, ShibaSwap. This platform allows users to participate in farming activities, liquidity mining, and staking with tokens like SHIB, LEASH, and BONE. Additionally, ShibaSwap aims to provide a safe trading environment and promote the growth of the ecosystem.

One of the unique features of Shiba Inu is its tokenomics, with half of the total token supply locked on Uniswap and the other half sent to Vitalik Buterin, who burned a portion and donated the rest to charity. The token holders can stake their tokens to earn rewards or participate in liquidity pools. The coin can be traded on popular platforms like Binance, OKEX, and Huobi.

The project is led by an anonymous founder known as "Ryoshi," who emphasizes community involvement and decentralization. The team behind Shiba Inu is small and volunteer-based, with a focus on building a strong community-driven platform. With its unique tokenomics and growing community, Shiba Inu aims to establish itself as a prominent player in the cryptocurrency market.

How does Shiba Inu work?

Shiba Inu (SHIB) operates as a decentralized cryptocurrency that enables peer-to-peer transactions on its blockchain network. Built on the Ethereum platform, SHIB utilizes smart contracts to facilitate secure and transparent transactions without the need for intermediaries. The underlying blockchain technology ensures immutability and decentralization, allowing users to transact directly with one another. SHIB employs a proof-of-stake consensus mechanism, where holders can stake their tokens to secure the network and earn rewards. One of its unique features is its community-driven ecosystem, where users can participate in governance decisions and contribute to the development of the platform. SHIB has various use cases, including decentralized finance (DeFi) applications, gaming, and NFTs, offering a wide range of functionalities beyond traditional financial systems. Its potential applications across different platforms and industries showcase its versatility and adaptability in the rapidly evolving digital economy.

How to keep your Shiba Inu (SHIB) safe?

To keep your Shiba Inu (SHIB) safe, it is important to utilize enhanced security measures such as hardware wallets like Ledger and trusted platforms like Coinbase, OKX, and Kraken. Hardware wallets provide an extra layer of protection by storing your cryptocurrency offline, making it less vulnerable to hacking. Platforms like Coinbase, OKX, and Kraken have robust security protocols in place to safeguard your assets and personal information. By using these secure options, you can help ensure the safety of your Shiba Inu investments.

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Sentiment about Shiba Inu (SHIB)

Shiba Inu (SHIB) is currently priced at $0.00002341, with a market cap of $13,799,061,406.90 and a 24-hour trading volume of $1,616,780,845.53. The asset has seen a 1.51% increase in price over the past 24 hours, but a -13.76% decrease over the last 7 days. Shiba Inu holds the 12th position in market cap rank and has a galaxy score of 56.5, indicating a moderate market performance.

The social sentiment for Shiba Inu is positive, with a sentiment absolute score of 56.50% bullish tweets. The social impact score is also favorable, reflecting a strong correlation between social metrics and price trends. With a high social score and a significant number of social contributors, Shiba Inu shows potential for continued market growth. Investors should keep an eye on this asset as it navigates through the volatile cryptocurrency market.

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