The Shiba Inu (SHIB) coin is a name of a Japanese breed of dog whose popularity has skyrocketed. Before you invest, here are some things you should know about it.
In December 2013, DOGECOIN was launched as a joke, but who knew it would become so significant in the crypto space and is now a trending cryptocurrency that is quickly gaining a critical place in the crypto world. In addition, it is also used by retailers to take payments.
The market capitalization has reached $ 70 billion and is the fourth largest cryptocurrency by market capitalization. This was made possible by a number of individual investors, a number of Reddit forums and, of course, Elon Musk, one of Dogecoin’s most ardent supporters. However, this sparked the development of a number of clone coins, most of which are heavily influenced by DOGE.
Shib as the hottest cryptocurrency
At this time, Dogecoin has encouraged many to create tokens with similar characteristics as this has possibly become the most discussed and widely used cryptocurrency. They all have one thing in common: They are all named after a breed of dog, most of which are Shiba Inu. Despite its claims to be exclusive, the Shiba Inu (SHIB) is an obvious example. The Shiba Inu dog breed logo appears on Dogecoin and is used directly by SHIB.
With this in mind, we’ve decided to put together a short guide that aims to provide an insight into the cryptocurrency that has taken the market by storm in just a few days SHIBhas quickly become one of the most common cryptocurrencies. This became possible after the price of Dogecoin (DOGE) rose to $ 0.7 in May 2021. SHIB, LEASH and BONE are the three tokens that make up the entire Shiba Inu ecosystem.
SHIBA INU is ranked 20thth Cryptocurrency. Currently the price of the native token SHIB is $ 0.00002894 with a change of 8.52% and a trading volume of $ 7,979,263,890 in the last 24 hours. At the time of writing, the market cap of tokens is $ 11,481,556,612 and the circulating supply is 394,796.00 billion SHIB.
Things to Think Before Investing in Shib
While the SHIB cryptocurrency has one of the fastest growing groups with hundreds of thousands of followers on various social media platforms. There are a few points to consider when planning the project. The total offer is, for example, one trillion tokens. This is a large number, which means that investors can invest a great deal of information.
On the other hand, the SHIB token already had it, according to CoinMarketCap elevated From more than 18,000 percent In the past few months, the company has ranked among the top 20 largest cryptocurrencies with a market capitalization of $ 12 billion.
SHIB can currently be traded on Huobi, OKEx, and KuCoin, with Binance being the most convenient choice. SHIB / USDT and SHIB / BUSD are the two SHIB markets where users can participate in Binance’s spot exchange. The Shiba Inu group has gained momentum due to the payments made over the weekend and we are excited to see how it develops.