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We’ve compiled everything you need to get a better understanding of Shiba Inu price – as well as the factors which influence it. SHIB is the foundational currency of the Shiba Inu platform that can be traded and used as a medium of exchange. BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions. The technical analysis from the daily time frame shows that the Shiba Inu price has fallen below a long-term descending resistance line since Aug. 14.
Shiba Inu is a decentralized cryptocurrency that runs on the Ethereum blockchain. It was launched in August 2020 by an anonymous group of developers who wanted to create a new digital asset that would help users make payments quickly and easily. The token is designed to be similar to Bitcoin but with several key differences, such as its deflationary nature and faster transaction times. Unlike most cryptocurrencies, SHIB has no pre-minted supply; instead, new tokens are generated when users transact using the token. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Since its launch and stellar rise in the charts, Shiba Inu has evolved beyond being a joke-based cryptocurrency, having its own decentralized exchange ShibaSwap. In addition, the SHIB community actively supports social causes, has its incubator program to foster creativity, and plans to enter the lucrative arena of blockchain gaming and the metaverse. A relatively new player in the crypto space, ShibSwap has quickly become one of the most popular and innovative exchange platforms. It’s an open-source decentralized platform that offers a secure and easy way to trade multiple tokens and cryptocurrencies. Let’s explore what makes this platform so unique and why it’s becoming a go-to choice for savvy investors. If you’ve ever heard of the Dogecoin meme, then you’ve probably also heard of Shiba Inu.
- This amount would not only exceed that of Bitcoin’s market cap and that of the overall crypto market but also be well above the global GDP, which sits at under $100 trillion at the time of writing.
- The SHIB token is an Ethereum-based ERC-20 token that was created as a direct competitor to Dogecoin.
- The SHIB token is especially popular in emerging markets, as it is one of the most affordable among the top cryptocurrencies by market cap.
- This cryptocurrency has been popularized as a result of its association with the Dogecoin meme and has become quite popular among crypto investors.
- In terms of returns over the last 30 days, however, the asset is still 9% into the red as the recent uptrend hasn’t been enough to erase the poor December performance yet.
There is no burning or halving mechanism in place to reduce the supply of SHIB further. To check SHIBA INU’s price live in the fiat currency of your choice, you How to Get Insurance Broker License can use Crypto.com’s converter feature in the top-right corner of this page. Sign up for an account in minutes to buy crypto using credit card or bank transfer.
Cryptos to Sell in December
Yuri is a crypto journalist interested in technology and technical innovations. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. On the whole, these investors in ETH and ERC20 tokens now hold $46,980,484 in Shiba Inu. This is 5,559,738,045,413 SHIB, or 1.98% of their comprised crypto portfolio. No other data was provided, but this was likely either a whale relocating some of its crypto riches or a crypto exchange moving funds from one of its wallets to another.
World currency prices are based on rates obtained via Open Exchange Rates. Shiba inu, however, has a community-driven rescue campaign for Shiba Inu dogs and an ecosystem of products and services, including a decentralized exchange named ShibaSwap. The peer-to-peer trading 7 Applications of Machine Learning in Healthcare Industry platform lets users trade SHIB to and from other cryptocurrencies. Users can also provide liquidity and stake the ecosystem’s three tokens to earn interest. The more the number of use cases for the SHIB token, the higher the Shiba Inu price and market cap could get.
What Is the Lowest Price of Shiba Inu in EUR?
The meme coin is up over 150% in the past 24 hours and have recorded some of the highest trading volumes on Solana-based decentralized exchanges. The shiba inu coin, or SHIB, is an ERC-20 token that fuels the Shiba ecosystem. Comprising three separate tokens – SHIB, BONE and LEASH – that users can stake, swap or deposit into liquidity pools on the ShibaSwap decentralized exchange to earn interest and rewards. Toon Finance is a digital asset platform that uses blockchain technology to provide users with a secure and efficient way to store, manage, and track their digital assets.
Users will be able to BURY their SHIB to earn BONE – an upcoming token from the Shiba Inu team. 3% of all BONE per block will go to SHIB stakers, as well as 0.3% of all Ethereum swap transaction fees on the DEX. The platform will also let people DIG for BONE by providing SHIB liquidity.
CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms. A few minutes after your trade is executed successfully, you will receive your Shiba Inu tokens in your KuCoin trading account. You can store them on the exchange or transfer them to an external wallet for additional security.
The huge pullback in May 2021 was also common across the rest of the crypto market. Again, major losses for Bitcoin probably pulled down other coins with it. However, in the case of Shiba Inu, Vitalik Buterin’s revelation around that time that he was donating a significant portion of the SHIB supply to charity probably injected greater uncertainty into the SHIB market. Broader market trends have also played a role in SHIB’s price history. Fundamental analysis , on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy.
Shiba Inu MARKET CAP
SHIB’s price often makes news headlines, as it routinely notches tremendous gains and endures equally steep losses. The call seems to have paid off, with SHIB being among ETH whales’ most held ERC-20 tokens. The intense interest in Shiba Inu among large holders or whales further supports the SHIB price and market cap.
Head to the KuCoin Exchange for 24/7 live updates of SHIB/USD prices and the ability to buy/sell crypto quickly. Check the total APR on offer and select the number of SHIB tokens from your holdings you wish to transfer to the burn pool. Ensure that your wallet is funded with SHIB coins by buying Shiba Inu on KuCoin or other supported platforms. Using the Burn feature on ShibaSwap is one way for token burning, and it also provides a way to earn SHIB and grow your crypto portfolio. Providing liquidity, offering its holders a way to generate passive revenue streams.
SHIB Market Information
Recent developments within the Shiba Inu ecosystem suggest that such a breakout may be closer than some think. As mentioned above, the Shibarium Network is due to launch its beta in the coming weeks, although the team hasn’t provided a specific date or window. The rapid rise of Shiba Inu coin price have gotten a lot of crypto analysts and experts concern about an incoming massive correction.
Connect your digital wallet to ShibaSwap DEX. Supported wallets include MetaMask, WalletConnect, and Coinbase Wallet. The SHIB token, created by an anonymous developer called Ryoshi, was even modelled after DOGE, although its mascot is a cartoon-like representation of a Shiba Inu, rather than a real dog like with Dogecoin. Shiba Inu was created in August 2020, dubbing itself the ‘Dogecoin killer’. On 13 May 2021, Vitalik Buterin donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund. Secondly, the six-hour RSI has generated bullish divergence and has now moved above 50.
However, with the launch of Shibarium, it will become much faster and much more affordable, something that should facilitate further uptake and use of SHIB. There are over 13,000 cryptocurrencies, and these can be classified into stablecoins, exchange tokens, DeFi tokens, governance tokens and more. Shiba inu is generally perceived as a meme currency similar to other dog-themed cryptocurrencies such as dogecoin and has a similarly viral following of more than 1.2 million people on Twitter.
Crypto investors who bought into SHIB at the time of launch at an extremely low price made immense profits, further driving more traders to add SHIB to their portfolios. Apart from its highly engaged community, the Shiba Inu coin is also a very popular cryptocurrency to invest in among new entrants into the market, owing to its low price. Despite multiple burn events, the Shiba Inu supply remains in the trillions. For the Shiba Inu rate to soar to $1, it would mean that its market cap would have to surge into hundreds of trillions of dollars.
LEASH was originally a rebase token but the developers recently removed the rebase to increase the potential. It has a total supply of 107,646 tokens, offering different incentives and rewards on ShibaSwap. Some 5% of the bonk token supply was burnt as prices dropped 40% in the past 24 hours. The shiba inu coin was launched in August 2020 by the mysterious creator, known as Ryoshi. Shiba Inu has no backing from venture capital firms, only retail and institutional investors. The market momentum affecting shiba inu can mainly be attributed to Tesla CEO Elon Musk, who was also responsible for dogecoin’s massive price surge.
Indonesian Government To Launch A New Cryptocurrency Exchange
This amount would not only exceed that of Bitcoin’s market cap and that of the overall crypto market but also be well above the global GDP, which sits at under $100 trillion at the time of writing. ShibaSwap, the designated decentralized exchange for the meme coin, offers more utility and value to SHIB holders, allowing them to stake their tokens and earn passive income. Stakers on ShibaSwap earn Okex Starts Strong In October, Leading All Bitcoin Futures Exchanges rewards in BONE while LEASH, the second token on the platform, doubles up as a rebase token. Finally, ShibSwap allows users to access liquidity pools from major global exchanges in order to get the best prices available. These pools provide an efficient way of exchanging different tokens while minimizing spreads and transaction times so you can make quick profits without waiting around too long.
This cryptocurrency has been popularized as a result of its association with the Dogecoin meme and has become quite popular among crypto investors. Let’s take a look at what this crypto offers and how it could be beneficial to your investment portfolio. Holders of a total of 297,000 individual Solana-based NFTs were said to receive the airdrop.
The Shiba Inu or just Shiba token was launched and marketed as a DOGE killer, with many people seeing this as a meme stunt. In fact, that’s ironic because Doge itself was launched as a joke by its creators, made in less than two hours. Dogecoin has plummeted in value this week as other blue-chip cryptocurrencies capitalise on a slowing of the interest rate rise in the US. It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of Shiba Inu. However, once ShibaSwap launches, there will likely be more demand for SHIB which could boost its price.