What is cryptocurrency? A beginner's guide to crypto
The world of cryptocurrency and digital assets can be overwhelming when you're first introduced. We cover all the basics to get you started with crypto.
Shiba Inu Price (SHIB)
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Shiba Inu Price Live Data
The live SHIB price is currently {{current_price}}, {{up_down_24h}} {{price_change_percentage_24h_in_currency}} in the last 24-hours. Shiba Inu's 24-hour trading volume is {{total_volume}}. Shiba Inu is currently {{market_cap_rank}} by market capitalization, which is calculated by multiplying the current price ({{current_price}}) with the circulating supply ({{circulating_supply}}). The market capitalization for Shiba Inu is {{market_cap}}. SHIB has a circulating supply of {{circulating_supply}} and a max supply of {{max_supply}}. To buy SHIB at the current rate, visit moonpay/buy/shib.
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About Shiba Inu (SHIB)
Shiba Inu (SHIB) is a decentralized cryptocurrency that gained popularity in 2021 as a memecoin inspired by the "Doge" meme featuring the Shiba Inu dog breed. It is a Layer-2 blockchain built on Ethereum and operates within the decentralized finance (DeFi) ecosystem.
SHIB aims to become a decentralized ecosystem for the "ShibaSwap" decentralized exchange (DEX) and other decentralized applications (dApps).
Shiba Inu price history
2020
In its early days, Shiba Inu coin (SHIB) traded for a fraction of a cent. However, SHIB began to gain traction in October 2020, following the launch of the ShibaSwap decentralized exchange. By the end of the year, SHIB reached a market cap of over $1 billion.
2021
The SHIB price exploded in 2021. Shiba Inu reached its highest price and 24-hour trading volume at $0.00008845 and $32.84 billion respectively in October 2021, following a series of high-profile listings on major cryptocurrency exchanges.
There are a number of factors that contributed to the SHIB price surge in 2021. One factor was the growing popularity of memecoins, which were seen as a way for retail investors to get involved in the cryptocurrency market. Another factor was the previous launch of ShibaSwap, which provided a way for SHIB holders to continue to earn passive income by staking Shiba Inu tokens.
2022
The Shiba Inu token price has been on a downward trend since its all-time high in October 2021, with the coin's value down by over 90% from its peak.
There are a number of factors that contributed to the SHIB price decline in 2022, from $0.00003413 in January to $0.00000772 in December. One factor is the overall bear sentiment in the cryptocurrency market. Another factor is the lack of major catalysts to drive SHIB's price higher.
2023
The price of Shiba Inu saw some peaks in 2023, with a brief resurgence back above the hundred-thousandth decimal place to a high of $0.00001501 in February. Since then, the price of Shiba Inu has been on a steady decline, seeing its lowest price of the year at $0.000006582 in mid June.
How does Shiba Inu work?
Shiba Inu (SHIB) works as an Ethereum-based token built on the Ethereum blockchain. It utilizes smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code. SHIB operates as a community-driven project, where decisions are made by the Shiba Inu community.
The Shiba Inu ecosystem consists of 3 coins:
Shiba Inu (SHIB) is the main token of the Shiba ecosystem. SHIB is the most popular coin out of the three, and is mostly used for trading and payments.
Bone ShibaSwap (BONE) is the governance token of the ecosystem. BONE tokens allow holders to participate in decentralized governance, where they can propose and vote on changes or improvements to the Shiba Inu network via the Doggy DAO.
Doge Killer (LEASH) is a special token within the SHIB ecosystem, giving holders enhanced perks that include bonus rewards from liquidity pools, as well as early access to NFT mints and metaverse land sales.
Who Started Shiba Inu?
Shiba Inu coin was created in August 2020 by an anonymous person or group under the pseudonym "Ryoshi". The coin was launched as a memecoin, inspired by the popular Doge meme featuring a Shiba Inu dog.
Ryoshi has never revealed their identity, and little is known about them. They have written a few blog posts about Shiba Inu (that have since been deleted), but they have not given any interviews or made any public appearances.
Some people believe that Ryoshi is a single person, while others believe that it is a group of people (the Shiba Inu team). There is no way to know for sure who Ryoshi is or what their motivations are.
What is Shiba Inu used for?
Shiba Inu (SHIB) is primarily used as a cryptocurrency for trading and speculation. It is often traded on various cryptocurrency exchanges, allowing users to buy, sell, and trade SHIB tokens. As a decentralized cryptocurrency, it can be used for peer-to-peer transactions.
SHIB's primary use case has been influenced by its popularity as a memecoin and the speculative nature of the cryptocurrency market. While it may have some utility within the Shiba Inu community, its value and usage primarily stem from trading and investor speculation.
What makes Shiba Inu unique?
One of the defining features of SHIB is its large token supply. It has a total supply of one quadrillion tokens, making it significantly more abundant compared to other cryptocurrencies. This high supply, coupled with its low price, has attracted investors looking for potentially high returns.
Shiba Inu coin stands out as the main Dogecoin derivative, bolstered by the passionate Shiba community that has helped to make it one of the most popular memecoins.
Although it started as a memecoin, Shiba Inu now has its own ecosystem with its own set of altcoins that serve various functions like governance and liquidity.
How can I mine or stake Shiba Inu coin?
Shiba Inu (SHIB) does not support traditional mining like Proof of Work (PoW) cryptocurrencies such as Bitcoin. SHIB is an ERC-20 token built on the Ethereum blockchain, which uses a Proof of Stake (PoS) consensus mechanism.
There are a few ways to stake Shiba Inu. One way is to use a decentralized exchange that offers staking services. Another way is to stake SHIB tokens directly on the ShibaSwap platform.
To stake Shiba Inu tokens on a crypto exchange, you will need to create an account with the exchange and deposit your SHIB tokens. Once your Shiba Inu tokens are deposited, you can choose to stake them for a period of time. The length of the staking period will vary depending on the exchange. Once you have chosen a staking period, you will need to pay a staking fee. The staking fee will also vary depending on the exchange.
Once you have staked your Shiba Inu, you will start earning staking rewards immediately.
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More FAQs about Shiba Inu (SHIB)
The price of %token_name% is determined by factors such as supply and demand, market sentiment, regulatory developments, and the adoption of blockchain technology. Price fluctuations can also occur in response to large transfers of the asset in a short time period.
Investing in memecoins like SHIB carries inherent risks, as they often exhibit high volatility. It's crucial to conduct thorough research and exercise caution before investing in any cryptocurrency, including SHIB.
The all-time high for Shiba Inu (SHIB) is $0.00008845, which was recorded on October 27, 2021.
The all-time low for SHIB is $0.00000000008165, which was recorded on August 31, 2020.
The maximum supply of SHIB is 1 quadrillion (1 followed by 15 zeroes). At the time of writing, there are over {{circulating_supply}} SHIB tokens in circulation.
You can buy Shiba Inu directly via MoonPay or through one of our many partner wallets, such as Trust Wallet, Exodus, and Ethereum wallets like MetaMask. MoonPay’s simple widget makes it easy to buy SHIB with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more payment methods. You can also top up your wallet with euros, pounds, or dollars and use your MoonPay Balance to purchase crypto like SHIB. With MoonPay Balance, you'll enjoy faster transactions, lower fees, and higher approval rates.
