Finance:Shiba Inu coin

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Shiba Inu
Shiba Inu coin logo.png
Shiba Inu logo
Ticker symbolSHIB[1]
Development
Original author(s)"Ryoshi"[2]
Initial releaseAugust 2020; 3 years ago (2020-08)[2]
Development statusActive
Websitehttps://www.shibatoken.com/
Ledger
Circulating supply394.796 trillion[3]
Supply limit1 quadrillion
Valuation
Exchange rate0.000016 USD (17 May 2021)
Market cap$6.52 billion USD (17 May 2021)

Shiba Inu (code: SHIB), also known as Shiba Token, is a decentralized cryptocurrency created in August 2020 by an anonymous person known as "Ryoshi".[2][4] The token, dubbed the "DOGE killer",[5][6] was modeled after Dogecoin[7] and has a market capitalization of over $6 billion as of May 2021.[3] The token's price is low—less than 0.00002 cents—allowing users to "hold billions or even trillions of them",[8] with nearly 400 trillion currently in circulation.[3]

Etymology

The name, Shiba Inu token, is taken verbatim from the Shiba Inu, the same breed of dog that Dogecoin's symbol was based on, the latter of which was based on the Doge meme.[9]

History

Shiba Inu was created in August 2020, modeled off Dogecoin,[10] another cryptocurrency, by the anonymous founder known as "Ryoshi".[2][11] The token's price at the time was negligible until reaching US$0.000002 on 20 April. On 9 May, the price soared to over $0.000009, peaking at $0.0000388 on 10 May.[12] At this time it had a market capitalization of over 13 billion according to CoinMarketCap, which was the 14th highest market capitalization in the cryptocurrency market. The price fell to $0.000018, over a 40% drop,[13] by 13 May, the same day that Vitalik Buterin donated more than 50 trillion Shiba Tokens to the India COVID-Crypto Relief Fund.[14][15]

Currency supply

As of 17 May 2021, a total of 394.796 trillion Shiba Tokens were in circulation, with the market cap sitting at $6.52 billion USD.[3] The supply limit for the currency is one quadrillion (1,000,000,000,000,000), meaning that just under one quarter of the currency is currently in circulation.[16]

Exchange

Shiba Tokens can be exchanged on ShibaSwap, Kucoin, CoinBene, Probit Global, CoinDCX, WazirX,[17] Binance, Crypto.com [18] Huobi,[5] and OKEx.[19]

See also

References

  1. ↑ MacDonald, Chris; May 10, InvestorPlace Contributor; 2021; May 10, 3:20 pm EDT; 2021 (2021-05-10). "Shiba Inu (SHIB) Crypto: 7 Things to Know About Red-Hot SHIB" (in en-US). https://investorplace.com/2021/05/shiba-inu-shib-crypto-7-things-to-know-about-red-hot-shib/. 
  2. ↑ 2.0 2.1 2.2 2.3 "What is the Shiba Inu ? Experts weigh in on the 'Dogecoin killer' hype" (in en). https://fortune.com/2021/05/12/shiba-inu-coin-price-shib-dogecoin-killer/. 
  3. ↑ 3.0 3.1 3.2 3.3 "SHIBA INU price today, SHIB live marketcap, chart, and info" (in en). https://coinmarketcap.com/currencies/shiba-inu/. 
  4. ↑ "What is Shiba Inu ? Price, how to buy, news and more". May 12, 2021. https://www.tomsguide.com/news/what-is-shiba-inu-coin-price-how-to-buy-news-and-more. 
  5. ↑ 5.0 5.1 "Chinese Traders Pounce on SHIB Tojen Known as 'Doge Killer'" (in en). 2021-05-10. https://www.coindesk.com/chinese-crypto-traders-shib-coin-doge-killer. 
  6. ↑ "'Dogecoin Killer' Shiba Inu Adds $11B To Ethereum Founder Vitalik Buterin's Net Worth" (in English). 2021-05-10. https://www.benzinga.com/markets/cryptocurrency/21/05/21029066/dogecoin-killer-shiba-inu-adds-11b-to-ethereum-founder-vitalik-buterins-net-worth. 
  7. ↑ NJ.com, Nicolette Accardi | NJ Advance Media for (2021-05-10). "What is Shiba Inu? How to buy Shiba Inu token as price surges following Dogecoin drop" (in en). https://www.nj.com/business/2021/05/what-is-shiba-inu-how-to-buy-shiba-inu-coin-as-price-surges-following-dogecoin-drop.html. 
  8. ↑ "SHIBA TOKEN". https://www.shibatoken.com/. 
  9. ↑ DelhiMay 12, Manas Tiwari New; May 12, 2021UPDATED; Ist, 2021 11:17. "Shiba Inu is being hailed as Dogecoin killer and it has already given 1900 pct returns in one week" (in en). https://www.indiatoday.in/technology/news/story/shiba-inu-coin-is-being-hailed-as-dogecoin-killer-and-it-has-already-given-1900-pct-returns-in-one-week-1801626-2021-05-12. 
  10. ↑ CNN, Chloe Melas. "How two brothers went from nearly jobless to multi-millionaires with a bizarre crypto bet". https://www.cnn.com/2021/05/14/investing/crypto-shiba-inu-brothers-millionaires/index.html. 
  11. ↑ Wright, Keira; Lucas, Anthony (2021-05-10). "Move over Dogecoin, SHIB is here" (in en-US). https://tickernews.co/move-over-dogecoin-shib-coin-is-here/. 
  12. ↑ "Shiba Token". 13 May 2021. https://crypto.com/price/shiba-inu. 
  13. ↑ Business, Julia Horowitz, CNN. "Bitcoin's crash is very bad news for other cryptos". https://www.cnn.com/2021/05/13/investing/premarket-stocks-trading/index.html. 
  14. ↑ Vigna, Caitlin Ostroff and Paul (2021-05-13). "Ethereum Luminary Makes $1 Billion Covid-19 Gift—in Shiba Inu Token" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/ethereum-luminary-makes-1-billion-covid-19-donationin-shiba-inu-coin-11620862550. 
  15. ↑ Bambysheva, Nina. "Ethereum's Co-Founder Vitalik Buterin Donates Over $1 Billion To India Covid Relief Fund And Other Charities" (in en). https://www.forbes.com/sites/ninabambysheva/2021/05/12/ethereums-co-founder-vitalik-buterin-donates-over-1-billion-to-india-covid-relief-fund-and-other-charities/. 
  16. ↑ etherscan.io. "SHIBA INU (SHIB) Token Tracker | Etherscan" (in en). https://etherscan.io/token/0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce. 
  17. ↑ Boom, Daniel Van. "Dogecoin's rise and fall has spawned billion-dollar imitators" (in en). https://www.cnet.com/news/dogecoins-rise-and-fall-has-spawned-billion-dollar-imitators/. 
  18. ↑ Accardi. "What is Shiba Inu? How to buy Shiba Inu token as price surges following Dogecoin drop" (in en). https://www.nj.com/business/2021/05/what-is-shiba-inu-how-to-buy-shiba-inu-coin-as-price-surges-following-dogecoin-drop.html. 
  19. ↑ OKEx. "OKEx becomes first major exchange to list Shiba Inu's SHIB token" (in en). https://www.prnewswire.com/news-releases/okex-becomes-first-major-exchange-to-list-shiba-inus-shib-token-301288129.html. 

External links




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