Shiba Inu price in USD: |
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$0.0000138 |
Shiba Inu price in USD: |
---|
$0.0000138 |
Shiba Inu (SHIB) is an Ethereum-based cryptocurrency whose logo, similar to Dogecoin (DOGE), depicts a dog of the Shiba Inu breed, which has become the symbol of meme tokens.
Shiba Inu was created in August 2020 by an anonymous person or group called Ryoshi.
According to its white paper, the Shiba Inu was created to be governed entirely by its community. The founder, Ryoshi, attributes its origin to “an experiment in decentralized spontaneous community building.”
The core principles of the meme token community are:
SHIB is an ERC-20 token that uses Ethereum’s network instead of its own. The choice of Ethereum was primarily based on the fact that the network was secure and established, and allowed the project to remain decentralized.
The Shiba Inu ecosystem consists of the following three tokens:
The Shiba Inu ecosystem also includes:
There are numerous cryptocurrency exchanges and marketplaces that range from easy-to-use systems to complex dashboards for advanced traders.
Because Shiba Inu is so popular, you’ll be able to purchase the token on most cryptocurrency exchanges, but it’s advisable to stick to a few of the more popular exchanges like Binance, Kraken, Coinbase, etc. Different platforms come with different fees, security measures, and may include other features, so it’s a good idea to do your research before signing up.
Start with account registration, which is completely free on the aforementioned platforms. For added security, 2FA – two-factor authentication – is also enabled. This way, you and your device are the only ones who can grant access to the account.
You are then taken through a KYC process, which is providing personal information – ID card/passport/driving license details, proof of address (e.g. bank statement or utility bill).
After completing these steps, you are ready to buy, sell and trade Shiba Inu (SHIB) as well as avail various services such as steaming.
Once your account has been registered and verified, you need to fund the account to start taking advantage of the platform’s buying and trading services.
The main deposit options are:
On Binance, the world’s largest cryptocurrency exchange, deposits are absolutely free.
A recent Binance transaction involving Shiba Inu (SHIB) tokens has sparked interest within the crypto community.
Shytoshi Kusama, the lead developer of Shiba Inu, has recently reached out to the SHIB community to affirm its dominance over Dogecoin.
Shiba Inu (SHIB), the second largest meme coin, experienced a significant dip on August 5, hitting a five-month low before rebounding a few days later.
Shiba Inu, a popular meme cryptocurrency, managed to claim the 12th place in the CMC ranking, surpassing Avalanche in market capitalization.