Is about a cryptocurrency that is derived from Dogecoindeveloped itself as a satire of the cryptocurrency frenzy in 2013.
The creation of this new meme token was the idea of anonymous “Ryoshi”who in August 2020, created the “smart contract ERC-20” that would bring Shiba to life.
Ryoshi’s idea with the creation of Shiba was very clear: dethrone Dogecoin as the meme currency. The anonymous noted that Doge did not offer anything new and innovative, that is, it did not fulfill the functions of a meme that is constantly renewed with different meanings.
After developing Shiba, Ryoshi decided to give Vitalik Buterin 50% of all that existence, and leave the other 50% so that it could move around in the community. In this way, the anonymous creator of Shiba was left without a single token to his credit.
Shiba Inu and the famous
Noted personalities like Nick Carter of the Backstreet Boys and NFL star Antonio Brown are some of the official Shiba Inu promoters.
Elon Muska billionaire who recently bought Twitter, is a big promoter of the meme, but still He has not yet laid eyes on the cryptocurrency like he did with Dogecoin.
In this context, a great influence can be seen from the popularity that memes can generate within cryptocurrency users. Although these digital assets are not usually meant to be taken seriouslythey can gain momentum when community members buy the newest one to take part in the prank.
Once it becomes popular and increases in value, retail investors sometimes jump on the joke and raise the coin even higher. For example, every time Musk tweets about the Japanese dog, the price tends to go up.
The Shiba Inu Explosion
Shiba’s complete boom caused it to position itself in a very short time as one of the 20 most important cryptocurrencies in the world, with a market capitalization that exceeds 26 billion dollars.
Some of this success was in the hands of Buterin, who donated part of his holdings to India Covid Aid Fund. The donation was valued at $1 billion. at the time and, after being sold by India in a bad market moment, it was worth 437 million dollars net.
What is the current price of Shiba
The price decreased by 8.21% in the last 7 days and 4.85% in the last 24 hours. The current outstanding supply is 549,063,278,876,301.94SHIB.
Furthermore, it was mentioned in 24,146 out of 1,704,229 posts on Twitter and Reddit last Saturday.
Source: Ambito
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