Finance:Shiba Inu (cryptocurrency)

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Short description: Decentralized cryptocurrency
Shiba Inu
Shiba Inu coin logo.png
Shiba Inu logo
Ticker symbolSHIB
Development
Original author(s)"Ryoshi"[1]
Initial releaseAugust 2020; 4 years ago (2020-08)[1]
Development statusActive
Websitehttps://www.shibatoken.com/
Ledger
Circulating supply1 quadrillion (1015)[2]
Valuation
Market capUS$ 42,8 Billion

Shiba Inu token (ticker: SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or persons known as "Ryoshi".[1] It has been characterised as a pump and dump scheme.[3][4]

It is named after the Shiba Inu (柴犬), a Japanese breed of dog originating in the Chūbu region, the same breed that is depicted in Dogecoin's symbol, itself originally a satirical cryptocurrency based on the Doge meme.[5]

Shiba Inu was created in August 2020, dubbing itself the 'dogecoin killer'.[1] On 13 May, Vitalik Buterin donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund.[6]

The exchange price of the cryptocurrency notably surged in early October 2021. Initially it increased over 55% after rumors of the launch of a decentralized exchange,[7], its value continued rising with an increase of 240% over the week.[8]

References

  1. ↑ 1.0 1.1 1.2 1.3 "What is the Shiba Inu ? Experts weigh in on the 'Dogecoin killer' hype" (in en). https://fortune.com/2021/05/12/shiba-inu-coin-price-shib-dogecoin-killer/. 
  2. ↑ "Will Shiba Inu turn the numero uno meme coin despite Musk's cold shoulder?". 2021-10-27. https://economictimes.indiatimes.com/markets/cryptocurrency/will-shiba-inu-turn-the-numero-uno-meme-coin-despite-musks-cold-shoulder/articleshow/87313836.cms. 
  3. ↑ Kaul, Abhinav (28 October 2021). "Experts say retail investors should stay away from ‘War of Meme Coins’". Mint. https://www.livemint.com/market/cryptocurrency/experts-say-retail-investors-should-stay-away-from-war-of-meme-coins-11635421101353.html. 
  4. ↑ Scribner, Herb (5 October 2021). "Shiba Inu coin had another spike. But will it last?". Deseret News. https://www.deseret.com/2021/10/5/22710714/shiba-inu-coin-new-rise-success. 
  5. ↑ Tiwari, Manas (12 May 2021). "Shiba Inu is being hailed as Dogecoin killer and it has already given 1900 pct returns in one week" (in en). New Delhi. https://www.indiatoday.in/technology/news/story/shiba-inu-coin-is-being-hailed-as-dogecoin-killer-and-it-has-already-given-1900-pct-returns-in-one-week-1801626-2021-05-12. 
  6. ↑ Vigna, Caitlin Ostroff and Paul (2021-05-13). "Ethereum Luminary Makes $1 Billion Covid-19 Gift—in Shiba Inu Token" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/ethereum-luminary-makes-1-billion-covid-19-donationin-shiba-inu-coin-11620862550. 
  7. ↑ Franjkovic, Teuta (5 October 2021). "Shiba Inu jumps 55% on exchange launch rumour". Yahoo! News. https://www.yahoo.com/news/shiba-inu-jumps-55-exchange-113026888.html. Retrieved 6 October 2021. 
  8. ↑ "Shiba inu coin skyrockets after an Elon Musk tweet supercharges the token - taking weekly gains to 240%". www.yahoo.com. https://www.yahoo.com/entertainment/shiba-inu-coin-skyrockets-65-101528714.html. 

External links




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