Launched on August 10, 2021, Shiba Inu Coin was created by a mysterious figure who goes by the pseudonym “Ryoshi” to provide an interesting alternative to Dogecoin. Initially issued as an Ethereum ERC-20 token, the total issuance is 100 trillion, with 50% allocated to Ethereum founder Vitalik Buterin, who donated his share to India’s Covid-19 relief fund.
Origin of Shiba Inu Coin
Shiba Inu Coin was first issued on August 10, 2021.
Background
The creator of Shiba Inu Coin is a mysterious figure with the pseudonym "Ryoshi". The project aims to create a “fun and friendly alternative to Dogecoin.” The Shiba Inu coin is named after the Japanese Shiba Inu dog breed, which is characterized by its fluffy fur and unique smile.
Issuance
Shiba Inu Coin was initially issued as an ERC-20 token on the Ethereum network. Its total issuance is 100 trillion, 50% of which is sent to Ethereum founder Vitalik Buterin, and the remaining 50% is distributed to the community. Buterin subsequently donated his tokens to India’s Covid-19 relief fund.
Rapid Growth
Shiba Inu Coin gained widespread attention shortly after its release, due in large part to its mascot and its close relationship with others such as Dogecoin Association of popular meme coins. Its rapid rise has made it one of the top ten cryptocurrencies by market capitalization.
Community Development
The Shiba Inu Coin community has been very active since the inception of the project. The community has a strong online presence and is involved in various activities such as charity work and technology development.
Current Status
As of March 2023, Shiba Inu Coin remains a popular cryptocurrency and continues to have strong community support. It has been used for a variety of purposes, including payments, investing, and creating non-fungible tokens (NFTs).
Shiba Inu price skyrocketed
As of 10 a.m. on August 30, the price of Shiba Inu (SHIB) was $1.4036674524905E-5, and the trading volume within 24 hours was $193677836.60345. SHIB price increased by 0.89941816% in the past 24 hours.
Reasons for Price Changes
The recent price increase may be due to several factors, including:
Future Price Trend
Forecasts of SHIB’s future price trend may fluctuate. However, as market sentiment improves and the ecosystem continues to grow, SHIB may see modest gains.
Steps Investors Should Take
Investors should carefully weigh the risks and conduct their own research before making any decisions. Given its volatility, prudent investing is crucial.
Short-term trend forecast
In the short term, SHIB may continue to fluctuate, but the overall trend is expected to be upward.
Main Indicators
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