Shiba Inu token (Dogecoin killer) is another meme coin similar to Dogecoin,( DEFI ) focused on building a decentralised cryptocurrency created in August 2020 by an anonymous person or group known as "Ryoshi.
It is named after the Shiba Inu a Japanese breed of dog originating in the Chūbu region, the same breed that is depicted in Dogecoin's symbol, itself
ShibaSwap is a decentralised exchange that will be launched as part of the SHIB ecosystem. Originally a satirical cryptocurrency based on the Doge meme. Shiba Inu has been characterized as a "meme coin" and a pump and dump scheme.
SHIB is the utility token of the SHIBA INU platform and will be used as an incentive for using ShibaSwap
There have also been concerns about the concentration of the coin with a single "whale" wallet controlling billions of dollars worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO).
Shiba Inu was created in August 2020, dubbing itself the (Dogecoin killer).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. Through integration with Amazon Smile, the team launched a community effort to rescue Shiba Inu dogs worldwide.
The exchange price of the cryptocurrency notably surged in early October 2021. Its value increased 240% over the week. However, over the first week of November, the price fell by approximately 30%
The team plan to build a vibrant ecosystem built around Defi, art, community & more.
Sources: Wikipedia and Coinspot
Buy Shib Inu Here: Coinspot
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