The legendary cryptocurrency DogeCoin is, these days, seeing a killer cryptocurrency specific to OneSelf. The DogeCoin Killer Shiba Inu or the SHIB, has already taken pop culture by storm. A spot once held by Bitcoin and then by DogeCoin.
SHIB is a decentralised experiment that serves community building, developed within the SHIBA INU Ecosystem. The fact that attracts a lot of crypto traders towards the Shiba Inu coin is that it has its own cryptocurrency exchange. Called the ShibaSwap. The Exchange itself is decentralised. However, this venture is still on the floors. To be the most secure of its types, it is currently undergoing changes and updates.
The Exchange will enable users to exchange their coins with other ERC 20 enabled cryptocurrencies directly. Bybit is the most trusted and best exchange
Since the Exchange will not hold large quantities of Bitcoin, it will not target hackers. However, the cryptocurrency has been dubbed as DogeCoin killer and is taking the market in new flavours of its own. SHIB was created by an anonymous creator Ryoshi.
The coin was intended as a meme but soon got the blockchain investor’s attention. The creators of the Shiba Inu cryptocurrency are also working on releasing their new coin, BoneDogeCoin Killer. SHIB is DogeCoin’s worthy competition because one, they were both created as an expression of humour and two, it takes the influences from the same dog breed Shiba Inu on whose influences, DogeCoin is based.
SHIBA has a market cap of more than $7 Billion as of May 2021. The price of the crypto coin is around two hundred times less than that of a cent, and hence, holders can hold billions of tokens at once. The crypto coin, as of May 2021, has 400 trillion tokens in circulation.
The crypto exchange ShibaSwap has placed the cryptocurrency first ever to be listed on their Exchange.
The price of the crypto asset has dropped to almost 40% after Vitalik Buterin donated 50 trillion coins to the government of India as the second wave of the coronavirus rampaged throughout the south Asian giant. The fund that it was presented to is run and managed by Sandeep Nailwal. As of now, the cryptocurrency is based on ethereum and has no value or underlying use case.
Since the token is relatively new to the market, there is no information about it. The difference that sets apart DogCoin and SHIB is that DogeCoin is based on the same tech used to build Bitcoin and SHIB is based on Ethereum. The NFTs use ERC 721 token standard. B being a fungible token uses ERC 20
The coin aims at increasing the earning potential of the customer. The major of the whole project was to build an inexpensive ERC 20 based token and environment that anyone can access. The prices were kept below a cent for a reason. The idea is to make a profitable platform even if it makes something as less as $0.01. Till now, the developers have seen success regarding this feat. It is crucial to understand that SHIB has had a fantastic start. Now, since the platform is new, speculation drives most of the investments.
The main idea of the whole system looks like it is to utilize the current crypto movement and make it useful for the future. Right now, the investors are at an edge to lose money, specifically given that the market is much more volatile. Will the coin ever rise again? That is well anticipated. Currently, cryptocurrency does not hold much momentum.
Are you looking for a broker or Exchange that can help you to invest in SHIB?
Look nowhere else because we have found the best broker and Exchange that can suit your needs.
eToro is a registered broker that works globally and is regulated by the top tier regulatory authorities. eToro has the best types of accounts to offer its users. The broker also provides impressive leverage on other assets as well. The broker offers trading on multiple assets, including forex, trading , stock trading, crypto trading, commodities trading, etc. Since the broker earns under the regulation of various governmental authorities, it can be safe to assume that the broker is not a scam but safe. You can go through the entire detailed eToro review.
By bit is the best crypto exchange where you can buy and sell all the cryptocurrencies. It is most trusted and safest trading platform. It offers exceptional trading services. It fees and commission polices are transparent and offers low commission trading. You can definitely start your crypto trading journey with Bybit