What Is Shiba Inu?
Shiba Inu is a cryptocurrency, similar to Bitcoin and Ethereum, that was created in August 2020. The name "Shiba Inu" refers to the Shiba Inu dog breed, which is also the mascot of this cryptocurrency.
It rides on the Ethereum blockchain, and its symbol is "SHIB". It gained a lot of attention in 2021 and has seen a significant increase in value in a short period of time.
Shiba Inu is also known as the "Doge Killer" when Elon Musk was recommending to buy Doge and the coin started rising 100% and more, Shiba Inu was rising 3 times behind the scene as it was the only cute meme coin other than Doge that time.
Who Created Shiba Inu?
Shiba Inu (SHIB) is a person or group of people who go by the pseudonym "Ryoshi". The true identity of these people is not publicly known.
The project was launched in August 2020, and though it did not take off that year, it skyrocket the next year 2021.
What is Ryoshi relation to Vitalik Buterin?
Vitalik Buterin is the creator of Ethereum, the blockchain platform on which the Shiba Inu (SHIB) rides on. It is unclear if there is any direct relation between Vitalik Buterin and the creator(s) of Shiba Inu, who goes by the pseudonym "Ryoshi" but 50% of SHIB or Shiba Inu was given to Vitalik Buterin.
Vitalik Buterin turned around and donated the SHIB he receive to India at the time of the Pandemic as a Covid Relief Fund.
Why Did Shiba Inu's Price Shoot Up So High And So Fast?
Shiba Inu, to date, has shut up over 22 million percent from its all-time low in less than 2 years. This information is from Coingecko's website.
There is no one thing that can pinpoint what is the reason for this massive shoot-up in such as small time but one thing I have noticed was when Shiba Inu's price was still small, a lot of people were talking on different social media about this coin.
One of the top reasons that a coin goes up so high and so fast is the number of people that are participating in the community.
Shib has a community called Shib Army and it grew so much so fast and is still growing every day.
I am sure you will keep hearing about this coin in the future and will still keep growing making a lot of people rich in the near future.
This is not a recommendation but if you would like to be part of this action, you should do your own research first.
What Are The Current Projects Of Shiba Inu?
There are so many projects going on right now with Shiba Inu. Currently, Shiba is developing its own Ecosystem.
Shibarium is a long-awaited Layer 2 blockchain solution for Shiba Inu, that would increase the transaction speed of Ethereum.
Shibarium will lay the foundations for the Shiba Inu ecosystem, complete with a metaverse, a DEX, and blockchain games.
LEASH is one of the coins that exist in the Shib Ecosystem.
BONE is a ShibaSwap exchange native governance token. Bone is used within the platform for liquidity, staking, and swapping. Holders of the Bone tokens can participate in governing the future functions of the platform.
SHIBASWAP is an exchange similar to UNISWAP or PANCAKE SWAP which you can connect your wallets such as Metamask or Trust Wallet to purchase another crypto.
Shiba Inu is also working on their metaverse project named Shiberse.
Shiba Inu NFT Marketplace is another project Shiba developers are working on.
There are so many projects related to Shiba Inu and it has taken its status from a meme coin to an actual utility coin that has a lot of purpose and functionalities.
The team has a lot on its plate right now and is really working hard to gain new heights for Shiba Inu.
What Is Shiba Inu Price Prediction?
No one can really predict the price of Shiba Inu. It is just one of the best altcoins that are on the market right now.
Shiba Inu has so many projects and their team is working really hard to make a big mark on the crypto world.
This is one thing I am sure of, their hard work will pay off really hard too. I will not be surprised if this coin will make hundreds or even thousands of millionaires again on the next bull run.
This is a very exciting coin and will continue to excite everyone that is watching its projects and progress.
So watch and see Shiba Inu go to the moon soon when more zeros are knocked off in front of its price.
Where can I get Shiba Inu?
You can get Shiba Inu on Uniswap or Pancake Swap if you are using Metamask or Trust Wallet.
You can also buy this coin on hundreds of crypto exchanges worldwide so you should not have any problem getting this coin.
Be aware that the Shiba Inu price will vary in different exchanges at the same time.
Should I Keep My Shiba Inu On My Exchange?
Well, this decision is up to you but it's always better to keep your cryptocurrencies on cold storage devices such as Ledger.
Exchanges paid a lot of money to keep their platforms from being hacked but there is no guarantee that it would be 100% safe.
This simply means that if your crypto is on your exchange, your wallet is exposed to being hacked.
If you have your cryptocurrency on a device with an internet connection, even if you just have it on your laptop or mobile device, you risk the possibility of your wallet getting hacked.
So having your crypto on cold storage or a computer without an internet connection will keep your cryptocurrency safe from hackers.
Shiba Inu has gone from an unknown coin with no functionalities when it started to a coin that will have its own Ecosystem and so many functionalities.
Shiba Inu Price was one of the biggest jumps in 2021 and while it has gone down over 80% from its peak, I am sure it will back to its peak and break new grounds on the near future.
There is no doubt that we need to pay attention to this coin and what it is going to do in the near future.
I cannot give you advice if you should get Shiba Inu or not, but I sure will be part of the action this coin will bring on the future as I am excited about all the projects their team is working on.
By Jun Bulatao On February 11, 2023