The Shiba Inu project has taken off in the last few years to become a vibrant ecosystem of members, entrepreneurs and Shiba coins (SHIB). It’s attracted over 585k+ community members through an innovative reward system that creates an environment for more open communication on any topic imaginable.
Shiba Inu coin has always been different, and they plan to continue being that way. Starting with a supply of 1 quadrillion (1 billion million), founder Ryoshi locked 50% in Uniswap for safekeeping then “burned” the other half to Ethereum co-founder Vitalik Buterin—who went on to burn 40% of total coin supply to a dead wallet to maintain stability in perpetuity!
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Shiba Inu coin vs Dogecoin
After Elon Musk tweeted about Dogecoin going to the moon, we’ve seen a rise in doggo-themed cryptocurrencies. But before you dump your life savings into any meme currency, take some time to research and know what you’re buying!
Most of these currencies don’t have any underlying products or competitive advantages over other more established coins like Bitcoin, Ethereum and Cardano.
Dogecoin is a Bitcoin clone. Copied from the code, with some tweaks for inflation and supply cap (there are no limits to how many coins can be created!) that make it more accessible to those who mine or trade in cryptocurrencies.
Dogecoins are merge-mined with Litecoins – meaning they use computing power similar to Bitcoins but have drastically lower difficulty rates on mining blocks and therefore tend not be as costly to acquire them.
Aspiring crypto-enthusiasts can now buy into one of the fastest growing cryptocurrencies in recent years with a minimal investment. The proof-of-work mechanism means that Dogecoin will continue to be an extremely secure cryptocurrency, making it safe for everyone to invest and trade on the open market without fear of fraud or manipulative practices.
As a result of its popularity with Reddit users, Dogecoin is often used as a tipping currency for those who produce or share compelling content.
The Shiba Inu is a token on Ethereum’s network. It’s an ERC-20, which means it can be used for decentralized financial products like other tokens in the system.
Shiba Inu’s Artist Incubator will introduce artists to the DeFi space through an Ethereum-powered, decentralized program. The platform provides a way for creatives to auction off NFTs in place of third parties needed for transactions by using smart contracts and the blockchain on which it is built.
After the release of their DeFi ecosystem, users will be able to stake tokens for “bones” on Shiba Inu’s platform. The Shiba Inu is looking to take over the cryptocurrency market by releasing their Bones.
The only way to mine Bones will be through staking Shiba tokens on its platform – and while this may seem like a risky investment for some investors interested in getting into crypto-investing, it’s also an opportunity: if you stake your shibas now at presale prices (and they go up) then when mining starts with real coins worth much more than that amount; no one stands to make as big of profit as those early adopters who were willing enough riskier investments.
How to get Shiba Inu coin?
If you’re on the hunt for some Shiba Inus, there are several platforms where they can be found. As of right now Binance has them available to buy and trade in their marketplace.
Crypto.com, Atomic Wallet, KuCoin and Uniswap (you’ll want your Ethereum before you get started though, as Uniswap is currently only offering ETH-SHIB swaps via Trust Wallet’s integration), also offers a chance at this rare breed.
Will Shiba Inu coin reach 1 cent or $1?
The Shiba coin is one crypto that has not been destroyed by the recent market crash. It’s an example of how size does matter for investments and what could happen if you invest in a new, less popular altcoin: it might even help to shield your portfolio from some damage because there are fewer people who own this token than those with tokens like Bitcoin or Ethereum.
The smaller number of investors means little variability in trading price compared to more established coins where volatility seems unavoidable during periods of economic turmoil, such as we’re currently experiencing. So diversifying can be smart move.
The Shiba Inu coin may not be at 1 cent yet, but its flexibility and low trading price could help it to get there sooner than you think.
As of now, the Shiba Inu token is trading at $0.000007938 – which seems really “low” compared to one US penny ($.01). The future of cryptocurrency is uncertain. The market could see a resurgence with SHIB reaching $0.01 in within the next five years, and up to $1 by 2030.
What’s with the Shiba Inu coin petitions?
People are starting petitions to get their favorite exchanges like Robinhood, and Coinbase to start trading in the Shiba Inu coin.
The reason is that you can’t find SHIB on too many of them, with so few people having it available for purchase except through Binance which has a high fee rate when purchasing coins there.
Investors are flocking to cryptocurrencies that underpin a new, decentralized world order. Ethereum-based projects like Shiba Inu have been among this year’s biggest competitors in terms of both price and adoption rates as they provide investors with stable alternatives more popular (and volatile) coins.
However, doge isn’t just picking up steam either; it has an existing user-base of millions already who are eager for more! Shiba’s predicted growth is minuscule compared to what we can expect in the future with an established public following backing up the doge. So while it may seem like something that won’t become anything serious today or tomorrow- keep your eye out for the dogemoon rising.