After Dogecoin (DOGE), Shiba Inu (SHIB) is yet another cryptocurrency based on the popular dog breed by the same name. This cryptocurrency has been developed to be an alternative to Dogecoin based on Ethereum. Unlike other cryptocurrencies, which are pretty rare, SHIB has intentionally been made with an abundant supply of 1 quadrillion.
But how is it different from Dogecoin? Well, unlike DOGE, Shiba Inu is supported by the Ethereum ecosystem, which allows you to develop crypto apps such as Shiba Swap. The community also has plans to develop a governance system based on DAO for the coin’s ecosystem.
Shiba Inu (SHIB) supports other crypto projects such as an art incubator for NFTs and the designing of an exchange system called Shibaswap, which is completely decentralized. Originally, this cryptocurrency was designed to be operated by its community.
Shiba Inu (SHIB) Release Date: August 2020
Shiba Inu (SHIB) was developed by an anonymous personality named Ryoshi, who launched the coin in August 2020 with an abundant supply of 1 quadrillion coins.
How to Trade In Shiba Inu?
You can purchase, send, or receive the Shiba Inu coin from various crypto exchanges online. Since the coin is based on Ethereum, it is supported by Ethereum’s huge ecosystem. You can use Coinbase Wallet for holding this cryptocurrency, and it is available on many decentralized exchanges (DEXs) such as UniSwap. The currency also has great potential to be used in DeFi applications, including NFT marketplaces and lending products.