SHIB Token And All You Need To Know About It
To be able to comprehend better on what SHIB token is all about, the SHIB token’s price movement, and overall benefits associated with this sort of cryptocurrency, we must first comprehend what meme coins are.
A meme coin’s origin is rather obvious; the goal of the coin’s existence is to have fun, perhaps generate money, or simply do it for the sake of just memes. As a result, meme coins vary from pure scam coins in the sense that they are not generated with the intention of causing any sort of harm. Memes are effective because they have the ability to become viral and are widely recognized on the internet. In the case of Dogecoin, the meme that inspired the cryptocurrency is the traditional Doge meme. This is a meme that exploded in popularity in 2013. The dog seen in the Doge meme is a Shiba Inu also called Kabos, a Japanese hunting dog breed.
Most meme coins grow and decrease in value in response to current emotion which is classified as FOMO — the fear of missing out, this is simply thought to be one of the driving factors behind the significant price rises observed in both Dogecoin and Shiba Inu coins. Irrespective of this, people have earned millions on meme coins which is why it’s not so difficult to understand why they still worry.
What is the Shiba Inu Token?
Shiba Inu (SHIB) is the newest meme coin to get the attention of the blockchain investing world. Many consider this token to be a rip-off of the Dogecoin since it also takes influence from the famous Shiba Inu. Shiba Token’s anonymous founder, Ryoshi, is a Shiba Inu aficionado who created the Shiba token in August 2020 as an experiment in “decentralized spontaneous community creation. Ryoshi initially created a team of persons and named this team Ryoshi Research. This team of developers took the crypto world by surprise by first locking up 50% of all the tokens on UNISWAP after they finished minting one quadrillion tokens. The remaining 50% were gifted away by the creator of Ethereum, Vitalik Buterin. The SHIB coin is also referred to as Dogecoin killer because of its ability to outperform Dogecoin price growth even at a penny level. The token’s value was insignificant at the initial stage, rising to US$0.000002 on April 20th. The price rose to above $0.000009 on May 9th, culminating at $0.0000388 on May 10th. According to CoinMarketCap, it had a market value of over 13 billion at that time, making it the 14th largest cryptocurrency market capitalization. The price dropped by more than 40% to $0.000018 by May 13th.
SHIB is an ERC-20 token, which means it was created on the Ethereum blockchain. The Ethereum blockchain was allegedly chosen for the construction of the Shiba Inu system because it was safe and well-established. The Ethereum network allows the system to develop and evolve without any outside regulations. SHIB is just one of three tokens in the Shiba Inu ecosystem.
SHIB functionality
SHIB token belonging to the Shiba Inu ecosystem has the characteristics of being either buried or dugged. The bury functions are basically just a function for staking the SHIB token; meanwhile, the digging function is a way to farm the token . Aside from the potential for profit, Shiba Inu is all about having a good time. Meme tokens are intended to assist people get more familiar with blockchain technology. When individuals see the lovely Shiba Inu, it makes them feel less stressed about their transition to a decentralized economy.
SHIB has been listed on a number of crypto exchanges such as Brexily, ShibaSwap, KuCoin, CoinBene, Probit Global, CoinDCX, WazirX, Binance, Crypto.com, Huobi, and OKEx unlike other main cryptocurrencies, it cannot be directly purchased with fiats money.
Official SHIB Channels and Social Media Links
- Telegram Channel: https://t.me/shibainuthedogecoinkiller
- Leash Telegram: https://t.me/officialleashtoken
- Twitter: https://twitter.com/shibtoken
- Medium: https://link.medium.com/happAMZpCg
- Website: https://shibatoken.com/
How to buy SHIB token on Brexily
SHIB is now listed on Brexily. Brexily is a dependable cryptocurrency exchange platform built by Everus Technologies which is a well-known brand in cryptocurrency and digital sector to enable cryptocurrency exchange and trading to be smooth and advantageous to the worldwide masses.
To buy Shiba Inu ($SHIB) on Brexily, simply trade Shiba Inu through this link: https://exchange2.brexily.com/Trade/SHIB_USDT and you are good to go.
SHIB Trading Competition on Brexily
To celebrate the listing of SHIB token on the Brexily exchange, Brexily has organized a SHIB trading competition where our traders are given the opportunity to trade and get a share of 1,000,000,000 SHIB. Also, our traders, on the deposits of at least 100,000,000 SHIB get the chance of winning 100$ worth of USDT.
Participate now: https://link.medium.com/VmxylCaGxgb
SHIB can be traded on Brexily using the following link: https://exchange2.brexily.com/Trade/SHIB_USDT
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