Sshiba Inu is one of our most watched coins here at CoinStomper for several reasons. We wanted to pay tribute to this brilliant meme coin and let everyone in on its greatness! This is not financial advice; we will just be discussing our favorite coin.
What is Shiba Inu?
Shiba Inu is an increasingly popular cryptocurrency that many people are beginning to invest in thanks to its recent listings on major exchanges such as Coinbase and Binance. It’s also suitable for those who love dogs and want an eco-friendly way of owning one!
Ah, Shiba Inu the mighty self-proclaimed “Dogecoin” killer. Shiba Inu was created to overtake the ever-so-popular Dogecoin and has since expanded into the global giant it has become today. With a diligent dev team devoted to creating and updating new features, it seems that Shiba Inu is here to stay and has already obtained deep roots in the crypto-verse.
This coin is not only one we recommend you hold but one that we recommend you BURY! If you stake (bury) your tokens atShiba Swap you can earn passive income via Ryoshi’s Vision/WETH/BONE. You can even provide liquidity and earn more passive income that way! This is a great way to set aside your rainy-day funds even further aside and let them earn income for you. We applaud the work the team has done so far and look forward to what the future holds with this one.
Shiba Inu is still a new token in the crypto-verse but it has been making gains within the past year that have brought many people to the moon! In this guide, we will give you a quick in-depth tour of our take on the Shiba Inu token and all it has to offer its holders.
A Delightful Overview Of The Shiba Inu Memecoin
Shiba Inu dogs are just like any other pup, but they have an extra unique ability: when you touch their paw, it turns into money! And what better way for Shiba (and all pets) to get some loving care than donating goods or services? The Shiba Inu coin is an exciting cryptocurrency that has launched past the moon and into the unknown. Unfortunately, it’s not as well-known or widely accepted in the crypto community as many other coins, however, it is gaining traction rapidly and is adopted in multiple countries and is even being used as acceptable currency to go catch the latest movie at any AMC Theater!
The self-proclaimed “doge killer,” a coin named after the popular Shiba Inu dog meme, has become one of the most raced coins in the cryptocurrency space. The Shiba Inu coin is expected to grow exponentially, and it is still a baby in the crypto-verse at this point. This is a high-risk token meaning it can be very volatile and change its course for better or for worse at any point in time. This is also a high reward token and if you bet on the right horse, it could be your lucky day at any time with this one!
There is no passion to be found playing small—in settling for a life that is less than the one you are capable of living.” ― Nelson Mandela
How Shiba Inu Was Created
Shiba Inu was created by a pseudonymous founder named Ryoshi. This token is inspired by the Japanese dog breed and runs on Ethereum-based ERC20, which means it exists on another blockchain. This is the Dogecoin Rival Token and so far has lived up to its name even surpassing Dogecoin in total market cap.
How Shiba Inu Functions
The number of cryptocurrency coins started to increase in 2020 and 2021. Some people were trying out new types, like Shiba Inu (a self-proclaimed DOGE killer). It’s worth looking into this one because its founder has remained anonymous–instead, it’s known as “Ryoshi.”
While Shiba Coin is unlike Dogecoin, it has succeeded in being compatible with Ethereum so users can create crypto apps like Shiba swap, a decentralized exchange. The community has also released an NFT platform and DAO-based governance system for their ecosystem called “Doggy DAO” that allows them to take advantage of the recent trend towards decentralization across industries.
How Shiba Inu Operates
Shiba Inu is split into numerous tokens that aid in the operation of the whole cryptocurrency ecosystem. Shiba Inu, Ryoshi’s Vision, Leash, Bone:
Ryoshi’s Vision:
The Ryoshi Vision tokens are a project that strives to realize the Shiba coin’s anonymous founder. Why? Well, as it turns out they wanted an entirely decentralized financial ecosystem run by those who use it- so we exist in order for them not just to be able but also to enjoy these benefits!
Leash:
The most restricted of the Shiba Inu-related currencies, this token is limited to 107,646 units. It offers stake compensation to individuals who validate bitcoin transactions.
Bone:
This token has a supply of 250 million units and lets Shiba Inu users vote on different ideas.
Shiba Inu also has a community-based ecosystem, including the Shiba Swap decentralized trading platform and Shiboshis tokens. These NFTs represent non-fungible items that can be used in conjunction with these other aspects of Shiba swapping or traded on their own for fun! The cryptocurrency makes nods towards canine-themed coins across every area it encompasses, such as through white paper names like “Woof Paper.” Founders refer to those who support this project together called ‘the Shiba Army.’
So, what’s The Idea Behind Shiba Inu?
The idea behind SHIB was to create a cryptocurrency that was, in theory, 100% decentralized and run by its community. It’s based on Ethereum, unlike DOGE, which is Bitcoin-based, but many Shiba are running around, so it’s worth noting how many people have been born with their name too! As of 15 June 2021, there were 394k billion coins in total circulation, but one quadrillion – or 1 million billion– Shiba Inu tokens exist currently waiting for you.
The low price of a Shiba Inu coin won’t prevent it from reaching the hallowed $1 mark. As long as people keep expectations within reason and don’t panic about their investments going up or down too drastically depending on how much they buy at one time–the growth potential is enormous!
The SHIBA coin is a cryptocurrency with the potential to grow exponentially, without ever falling below $0.01 USD per token because half of its total supply was given away in an early pre-mine by Ethereum founder Vitalik Buterin! Ryoshi has said that their goal for this currency isn’t just about making money but rather “outpaced” it – meaning they’re betting against Dogecoin’s value increasing more than ours will decrease (or vice versa). He also points out that there are no great coins unless you have something vulnerable behind them; We see nothing but good things for Shiba Inu’s future and we strongly believe in the team behind it.
In the wake of severe criticism for his actions, Buterin announced that he would donate 50 trillion coins to charity. But unfortunately, he did not pull any “rugs” under cryptocurrencies; instead, he helped turn a meme bubble into something profitable and good-hearted by giving away 410 billion worth of Ethereum (worth over $6.7 billion) in May 2021, which was burned at 90% – thus making him lose control over it!
Shiba Inu’s Price History
When the coin launched in August 2020, it was worth somewhere around $0.0000000001 for most of its first nine months of existence – but what happened? Why did SHIB’s value suddenly skyrocket and stay there for so long?!
Everything was going according to plan for SHIB traders when Elon Musk made his appearance on Saturday Night Live, but then something happened. The cryptocurrency skyrocketed after the news that it would appear during this week’s episode; it went from $0.000005246 all-time high (ATH) price in just under four days–260% faster than anyone could have imagined!
While Elon Musk’s appearance on the American TV show “Dog Eat Dog” hit DOGE’s price, SHIB continued to expand. It reached an all-time high of $0.0000388 on 10 May and took a big hit on 19th-20th when prices dipped during market hours for Bitcoin (BTC). Shibatoshi fell below its closing range at around USD$0-$10K per coin, which ranges between June 2018 – January 2019 before regaining somewhat more than previously lost ground after two days’ trading with daily fluctuations ranging from 7–11% up or down movement over 24-hour periods.
Key Features of the Shiba Inu Coin
Puppy Power!
The Shiba Inu coin is a digital currency that uses puppy power to bring you something new. This cryptocurrency can be used as an investment or buried in their decentralized Shiba Swap to earn a solid passive income.
The Shiba Inu coin is a unique cryptocurrency with an attractive total supply. The first-ever quadrillion (one thousand trillion) SHIB tokens were minted during its official launch in 2020, making it one of the most valuable coins on earth! 50% was locked away for Uni swap liquidity pool – which allows users to deposit pairs such as ETH and LTC into exclusive pools where they can trade against other investors’ assets automatically without any human intervention whatsoever.
When Vitalik Buterin, the founder of Ethereum, donated 50% of his remaining Shiba tokens to charity, it created a global stir. He burned through most–worth $1.2 billion at that time–to create awareness for COVID-19 and other causes throughout India in need; this included sending billions worth directly into dead wallets without any recipient account names attached!
Shiba swap also features two more tokens: LEASH and BONE. The community is championing a rescue campaign for these dogs by making purchases through smile.Amazon.com, including select donations from your purchase to help animals in need!
Shiba Swap!
Shiba Swap is a decentralized exchange that uses the power of Shiba Inu’s AI to create markets for traders. It does this by creating a system where people can trade cryptocurrency without an intermediary company and provide liquidity, earning interest on funds within pools as well as staking tokens in smart contracts which have different rates depending upon their worthiness–this means you’ll earn more the longer you’ve been invested.
Bone Swap
The Bone token is designed to function as the governance token for Shiba’s blockchain. Holders of this digital currency get rewarded when they provide liquidity on board and are also minted through DAO voting processes that allow them an opportunity to propose changes in protocol rules themselves!
Doge Killer (LEASH)
LEASH is a cryptocurrency that tracks the price of Dogecoin at 1:1,000. The team behind this project realized how important it was for users to have access and control over their funds as well as an understanding of what they’re investing in; thus came along leash which solves both problems by providing insight into all aspects we need – from security features like multi-signature addresses or private keys stored locally on our devices only accessible using PINs (not Google accounts) right down numbers associated with each coin such as total circulation vs. staking levels etc.
For example, if the price of Dogecoin were $0.05, then leash would change (mint new tokens or destroy coins in circulation) to adjust prices and maintain a balance between supply & demand for this scarce commodity used as a leading store-of-value coin by many Shiba owners worldwide since launching last year – it’s been “unleashed”!
The Many Shiba Swap Functions!
Shiba Swap has six functions for integrating these three native coins: LEASH, BONE, SHIB
Woof
Woofing is a process to cash out your rewards for SSLP tokens. All you need is a wallet that has been pre-approved by the company such as Trust Wallet or Coinbase wallet.
Swap
Wondering where you can buy all of these coins in one exchange? Well, look no further, as long as you have ETH in your wallet you’ll be able to exchange it here on their decentralized swap.
Bury
Burying (Staking) your tokens on Shiba Swap is a great way to earn passive income! Make your money literally work for you instead of just letting it sit and hoping something happens. Bury SHIB, BONE, and LEASH to earn great rewards passively. Learn more at Shiba Swap.
NFT
In this new trading platform for NFTs, users can Trade 10,000 unique non-fungible tokens called “Shiboshis” – pixelated Shiba Inu dog cartoons similar to Crypto Punks with different traits. Some rare ones have more value than others, depending on their trait preferences!
Bone-Folio
Bone folio is a dashboard for exploring and tracking your yield returns. In addition, the platform displays current interest rates and historical data, giving users insight into how they’re performing relative to other investors in the market from 30 days up through 5 years or even more!
Before Investing In Shiba-Inu
Investing in cryptocurrencies is not always easy. There are many risks to take, but if you invest smartly, then it can be lucrative! Cryptocurrencies like Dogecoin have been on the rise recently, and many investors who bought them at their peak could now be millionaires because of Elon Musk’s appearance on SNL. But, of course, this only goes to show how good these investments can be sometimes.
The Hype Is Real
The hype around Shiba is a significant factor behind investments in crypto. It has created a lot of buzz, and investors are interested because there’s potential for growth with its popularity, ease-of-use features that make trading more accessible to everyone, as well as backing from celebrities who have invested themselves into this new currency! It’s no secret that Dogecoin performed well in the last year. All coins are garnering hype based on their associated memes, and millions of people still invest billions into them every day despite it all being a digital currency.
If you’re looking for a profitable investment, you may want to consider Shiba Inu as it has been called “the dogecoin killer” because many experts believe this token is poised for nothing but success – but of course, it wouldn’t be called high risk if the risk wasn’t actually high.
Affordable Buy-In Opportunity
The price of SHIBA INU is well under a dollar and will remain that way for the near future, which means it can be bought for less than the cost of one bitcoin! Of course, with this low rate, the buy-in is quite cheap and if SHIB jumped to a dollar you could very well end up a millionaire overnight. That’s the power of high-risk investments.
Buying the Shiba Inu token on Ethereum used to be a nightmare. You would have spent significant amounts just for a minimal dollar’s worth, but now it has changed for the better with most exchanges being listed so you can buy them at low fees instead of wasting money on unnecessary ETH gas fees.
The GREATEST Crypto Dog FIGHT! Shiba Inu VS Dogecoin
Dogecoin and Shiba are two cryptocurrencies with very similar values, yet they seem to be completely unrelated. The coin once used for cryptocurrency jibes in the top 10 market capitalization rankings has just nudged ahead thanks to its recent rise while many other coins fall all around them, but why is this happening? Let’s explore what makes these digital currencies so appealing before deciding whether or not you want one too!
What Dogecoin and Shiba Inu share is the small breed of Japanese dogs known as the Shiba Inu. Both these crypto coins have loyal communities, with people using memes or social media channels for light-hearted discussions about how much they love their favorite coin.
These two new cryptocurrencies have taken over the crypto world in recent months. They are used for more than just paying bills and can be traded on decentralized exchanges like Shiba Swap (which mainly generates SHIB-related tokens).
Shiba Inu
Shiba Inu started as a joke meme coin to rival Dogecoin and has lived up to its hype thus far. We expect to see dips and rises but overall CoinStomper is estimating this coin to reach a penny. A penny would be a massive leap but with the gains this coin has made in the past we are very optimistic. Shiba Inu has made it this far, we don’t see signs of it slowing down anytime soon.
Shiba Inu will remain one of our top choices for the foreseeable future based on the ShibaSwap passive staking (burying) income alone we’d say this makes a pretty worthwhile investment.
DogeCoin
One of the most exciting aspects of Dogecoin is how it was created as a joke and then became something more. The community that has grown around this cryptocurrency speaks volumes about its appeal. So many people found it easy-going compared to other cryptocurrencies out there today, where everything can get pretty serious with all these new regulations coming into place meant only for safety reasons!
The founders of Dogecoin stepped away from the project in 2015 due to concerns that it had attracted too many unsavory characters. But investors didn’t deter them, and even more recently, they re-formed a new version of The Foundation with some heavy hitters on board who set out an ambitious roadmap for its future success!
Is Dogecoin a good investment opportunity, or will the currency be doomed to fail because it is not severe enough? While there is no clear answer yet, at least this project has incredible popularity and could eventually build up an excellent reputation for itself as a digital payment system with high market cap potential.
Should I Invest in Shiba Inu?
While we don’t offer financial advice here at CoinStomper we can say that we choose to invest during dips when the chips seem their lowest because Shiba Inu seems to always find its way back up past its mark if you wait patiently. We believe Shiba Inu to be a great long-term investment and we look forward to its future!
How Do I Purchase Shiba Inu?
You can buy Shiba with two different methods: on centralized exchanges like Coinbase and eToro or decentralized ones.
Decentralized exchanges (DEXs) are great for coins like Shiba since they support almost every Ethereum-based asset. Our favorite decentralized exchange is our own CoinStomper Exchange, that’s right, Shiba Inu can be purchased right here at CoinStomper as long as you connect your wallet and have the proper amount of Ethereum in your wallet to trade with!
The future of trading is here! You can now take advantage of all the benefits of blockchain technology without having any technical knowledge. Meta Mask and Coinbase Wallets are two great options for beginners in this new era. Still, there’s also Exodus if you want something more advanced like security features or an interface designed by Apple users who know what they want out of their experience (we don’t judge).
Making Your Purchases
There are many different exchanges and ways to purchase Shiba Inu now with so many listings taking place as this coin has reached new heights. What then, is the best exchange to purchase it safely? Well, we can’t say for certain which one is the best of the best as there are many great options out there, but we will list a few of our favorite places to go.
Whether your intentions are a solid savings account, a rainy-day fund, or your own personal tickets to the moon, we understand the need to have security and we’ve made our choices with security in mind. With that being said let’s look at our top choices!
Coinbase
Coinbase is a great option to buy and store Shiba Inu. Shiba Inu has recently been added to the exchange and can now be purchased directly within your Coinbase Wallet! Coinbase is a well-known cryptocurrency exchange that makes buying coins easy.
Coinbase does have a couple of drawbacks including small transaction fees, however, the benefits outweigh the bad as the convenience and user-friendly website makes it an overall pleasant and safe experience within an exchange.
Coinbase wallet also can directly connect to Shiba Swap making it simple to stake (Bury) your tokens in a very convenient manner.
Stompy-Swap Exchange
Our exchange is expanding with new coins/tokens on multiple blockchains daily with very low transaction fees. We of course couldn’t recommend any better exchange to buy your Shiba Inu and other coins than right here!
With low gas fees across the board, it’s no wonder this exchange is thriving the way that it has been over the past couple of years. We encourage you to create your own secured Stompy Wallet and see what all our exchange has to offer you!
Staking Your Shiba Inu
Of course, if you’re into having your crypto earn income passively for you like we are then the best option to store your Shiba Inu, Bone and Leash would be to Stake (Bury) it on Shiba Swap! The more you bury, the more passive income you will ultimately earn (woof) every week!
We find this is the best option for long-term holding as if you put in some “Forget me money” you may come back to Shiba Swap 5 years down the road with a lot more than you initially invested thanks to earning Ryoshi’s Vision, Bone and WETH passively through Shiba Swap.
The more tokens that are staked on Shiba Swap help to increase the value of the coins as well so if you’re looking to do your part and join the Shiba Army, then this is a great way to do just that! Of course, this isn’t the most secure way of storing your cryptocurrency, however, staking provides benefits that secure holding just can’t.
Our Final Thoughts About Shiba Inu
Overall, the transaction speed on the powerful Ethereum blockchain and the way Shiba Inu has been gaining speed in the crypto-verse, we feel that Shiba Inu will be a great long-term investment that could potentially yield a wonderful ROI. Shiba Inu and their development team are re-shaping the way cryptocurrencies behave and are leading the charge on the Ethereum blockchain. We look forward to seeing what the future holds and encourage all of our readers to keep an eye on this one. We hope you enjoyed our blog and encourage you to learn all you can about the fascinating world that is Crypto! Stomp on — Stompy
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