What is Shiba Inu (SHIB)
The “meme” cryptocurrency Shiba Inu (SHIB) was launched in August 2020 as a parody and competitor to another meme token, Dogecoin (DOGE). The Shiba Inu name and logo refer to the Shiba Inu dog breed that appears on the DOGE logo. The coin operates on the Ethereum blockchain; in total, the developers issued 1 quadrillion SHIB tokens, a significant portion of which were subsequently burned. One of the priorities of the creators of the coin was not to spend a single dollar on the project.
The founder of the SHIB token was an anonymous person who goes by the pseudonym Resi (Ryoshi). According to one version, it could be the creator of Ethereum, Vitalik Buterin. The fact is that the developers of the meme cryptocurrency sent Buterin 505 trillion SHIB coins, most of which he burned (about 90%). If he sold off these coins, the price of the token could have seen a dizzying drop.
In their woof (“woof”) paper, the developers state that the project is “a spontaneous experiment in the world of decentralized assets.” The SHIB community calls itself the Shiba Inu Army.
From a meme, the SHIB project over a short period of existence has turned into an entire ecosystem, which includes LEASH and BONE tokens, the decentralized exchange ShibaSwap and the Shiba Incubator for creating NFT art.#shib#binance
