Shiba Inu Price Today, SHIB Price Chart & Market Cap

The “burn mechanism” is one of Shiba Inu’s unique features aiming to decrease the supply of SHIB tokens over time. It sends a portion of each transaction fee to a burn wallet, reducing the amount of SHIB in circulation and increasing the value of the remaining tokens. This mechanism creates a deflationary effect, maintaining the value of SHIB over the long term.

Some factors that affect the worth of Shiba Inu coin are the overall crypto market, news and events, whale activity, etc. The live price of the Shiba Inu coin (SHIB) is updated and available in real-time on Binance. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. The meme coin’s value is driven primarily by social media trends and speculation, and use cases for Shiba Inu in the real world are still minimal at best.

The cryptocurrency project is named after a Japanese breed of dog called the Shiba Inu, which is the hunting dog breed depicted in Dogecoin’s logo symbol. SHIB is an Ethereum-based alternative to Dogecoin (DOGE), the popular and original canine-themed meme coin. As of Mar 05, Shiba Inu has a market capitalization of $7.7 Billion and is ranked #20 among all cryptocurrencies. This calculation is based on the circulating supply of Shiba Inu However, if we take into account the total supply of Shiba Inu, the market capitalization would be $7.7 Billion. SHIB’s rise to fame was fueled by its growing community and its marketing as the “Dogecoin killer,” which attracted attention from investors and social media influencers. The project took a significant turn in May 2021 when Vitalik Buterin, co-founder of Ethereum, was given 50% of the SHIB supply.

From simply being a small meme coin, Shiba Inu turned a guide to trading and investing in cryptoassets out to become the whole ecosystem. For instance, the project developed its own decentralized exchange platform called ShibaSwap. The DEX allows users not only to exchange tokens but also to participate in yield farming and liquidity mining activities.

Trending Coins

Shibarium was initially planned for release in February 2023 but was postponed for further testing and development. Monad’s testnet launch has shown promise with 57 geographically distributed validators and over 20 live applications on day one. However, the ecosystem’s true test will come with mainnet as it transitions from testing to real economic activity alongside the launch of the native gas token. After the token’s launch on Jul 31, 2020, on the Ethereum platform, over 1,144,583 wallets have acquired SHIB, with a recorded total of 7,792,543 successful token transactions to date. Shiba Inu (SHIB) is a cryptocurrency token built on top of Ethereum platform, launched in July 2020. While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs).

The live price of Shiba Inu coin (SHIB) is updated and available in real time on Binance. Shiba Inu(SHIB) , the widely popular cryptocurrency, is bought by people to transact digitally. A few others, however, buy Shiba Inu(SHIB) for investment purposes. It can be stored in a crypto wallet for transactions or holding purposes.

How is the Shiba Inu (SHIB) doing against the crypto market?

This meme coin is named after the famous Japanese dog breed, Shiba Inu. Alongside similar tokens like Akita Inu, Floki Inu, and Dogelon Mars, shiba inu coin is the main rival of another meme cryptocurrency called dogecoin, launched in 2013. Shiba Inu is a decentralized cryptocurrency launched in August 2020 by an anonymous individual or group known as “Ryoshi”. The last feature offers artists around the world an opportunity to apply and win the chance to learn from the artists of the Shiba community. This way the network can find new promising talent to add to its community and also test their knowledge before making any major decision.

The exchange platforms which support the token are also a place where you can cash them out, just know that some of these exchanges might not offer the option of cashing SHIB directly for fiat currency. In this case you will need to swap them for another crypto with better liquidity which can how to buy raptor coin later easily be exchanged for USD, EUR or GBP. There are many things done by the project’s team which are out of the ordinary. The supply of their tokens is 1 quadrillion with 50% of them locked on Uniswap.

Trending Cryptocurrencies

Though something like this never happens without somebody noticing. Ironically, since even major media outlets covered the incident, this turned out to be the best promotion for the Shiba Inu coin, which helped to raise the SHIB price. By burying SHIB, you can receive 3% of the BONE token made with each new block of data.

• American electronics retailer Newegg added SHIB at the start of December 2021, partnering with crypto payments platform BitPay to unlock payments in SHIB.
• You can easily add SHIB (Shiba Inu Cryptocurrency) to your watchlist on Changelly to track its price fluctuations and stay updated with the latest news and developments surrounding Shiba Inu.
• Through this process, the burned tokens are permanently removed from circulation, preventing their reutilization.
• SHIB is an ERC-20 token, meaning it runs on the Ethereum blockchain.
• It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap.

How to Buy SHIB on Binance?

SHIB had an initial total supply of 1 quadrillion or 1,000,000,000,000,000 tokens. The other issue is that Shiba Inu has a serious oversupply problem. It has more than 589 trillion tokens in circulation (remember, Shiba beginner’s guide to buying and selling cryptocurrency Inu was created with a total supply of 1 quadrillion tokens).

Among all the assets available on CoinStats, these have the most similar market capitalization to Shiba Inu. Shiba Inu’s deflationary tokenomics model, comprising a “burn mechanism” that reduces the supply of SHIB over time, is another unique feature. Designed to maintain the value of SHIB over the long term, this model has helped create a stable market for the token, enabling users to trade it easily and efficiently. The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market. The cryptocurrency’s market Price changes in percent within the last 24 hours (1 day).

A major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem. The price of Shiba Inu peaked in October 2021 when it was added to Coinbase (COIN -0.27%). Shiba Inu has decreased considerably since then, along with many other cryptocurrencies. Smart contracts are an essential component of the Shiba Inu network, enabling users to transact with one another without the need for intermediaries or central authorities. These contracts are self-executing and enforceable, i.e., they automate complex transactions to ensure all parties receive fair and transparent treatment. These are the project’s quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.

Current Shiba Inu market cap?

The token is also supported by many crypto wallets, or you can use a decentralized exchange to trade it for other currencies. The SHIB tokens were launched with a total supply of one quadrillion, half of which was locked in Uniswap for liquidity, and the other half was burnt by sending them to Ethereum’s co-founder Vitalik Buterin. Buterin later burnt 90 percent of his Shiba Inu tokens worth USD 6.7 billion to a dead wallet and donated the remaining 10 percent to a charity working for Covid-19 relief in India. Shiba Inu (SHIB) is a cryptocurrency built on the Ethereum blockchain network and introduced as a “meme coin” inspired by the Shiba dog similar to the Dogecoin. Shib Coin also referred to as “Dogekiller” was launched in August 2020, founded by an anonymous person or group called “Ryoshi”. At present the project is currently under a person named Shytoshi Kusama.

Well, he’s one of the co-founders of Ethereum and the only one who still works with the project. His wallet address is public, thus, anyone can send him Ethereum-based tokens. By doing that, your coins are temporarily turned into SHIB SSLP coins. When you want to un-dig your SHIB, you have to exchange your SHIB SSLP, which serves as a kind of placeholder token, back for your Shiba Inu coins.

• The DAO will have the authority to decide which projects and cryptocurrency pairs will be traded on the ShibaSwap DEX, and in the second stage, use SHIB as a governance token to help the Shib Army vote on proposals.
• Initially starting as a meme token, the Shiba Inu network has transformed into a robust ecosystem encompassing one of the world’s largest DeFi staking platforms, an NFT marketplace, a decentralized exchange, and more.
• This calculation is based on the circulating supply of Shiba Inu However, if we take into account the total supply of Shiba Inu, the market capitalization would be $7.7 Billion.

It’s a direct cryptocurrency’s supply & demand indicator, and is purely related to its market price. SHIB started off as the community-led decentralized equivalent to the popular memecoin Dogecoin, but quickly evolved into a more well-rounded cryptocurrency platform. The total supply of Shiba Inu tokens is 1 quadrillion (1,000,000,000,000,000) SHIB. The large total supply of Shiba Inu is intended to emphasise the humorous and meme-based nature of the cryptocurrency.