The best memes are easy for people to understand, fun to share, and funny even out of context. If you’re a fan of dogs, fun projects, and cryptocurrency, then I present to you — the Shiba Inu coin.
What is the Shiba Inu coin?
The Shiba Inu coin is an ERC-20 cryptocurrency token that runs on the Ethereum blockchain. The coin’s developers wanted to create a meme-friendly brand by giving it a cute name and an adorable picture of a dog, which helped speed up adoption and brand recognition.
The developers describe it as “A decentralized meme token that evolved into a vibrant ecosystem.”. In their Woof Paper, they say that Shiba Inu was the answer to the question, “What would happen if a cryptocurrency project was 100% run by its community?”.
The origin of the Shiba Inu coin started with a vision of providing a secure and trusted network that values quick and consistent innovation. They chose blockchain technology as the foundation for this platform because they feel it will change how the world handles transactions.
They strive to build an easy-to-use application that provides people with a new alternative for investment and fundraising. In addition, this new technology gives them incredible opportunities to shape new standards and deliver solutions that will revolutionize how they transact with each other on the internet. It can use smart contracts to create much more advanced applications, like Decentralized Exchanges (DEXs) and Non-Fungible Tokens (NFTs).
ShibaSwap - A new way to trade
ShibaSwap is a decentralized exchange built for the Shiba Inu ecosystem. It has many excellent features that you can use right now. It allows users to trade, stake, and provide liquidity to the exchange. In return for staking and providing liquidity, users are rewarded with interest payouts in various tokens.
In addition to the various coins available through the exchange, users can also trade cute Shiba Inu-themed NFTs called shiboshis. Owning a shiboshi not only gives you the ability to join the Shiboshis Social Club, but they can also be used in their upcoming game.
Is Investing in Shiba Worth It?
With the cryptocurrency craze not showing any signs of slowing down, they are attracting more and more investors worldwide. After reading about it, the question remains, “Should I invest in the Shiba Inu coin?”.
Unfortunately, we can’t see the future to determine without a doubt that investing in the coin is a safe bet; we can look at past performance along with the projects in the pipeline. Since its launch on August 1st, 2020, the coin has had a meteoric rise of over 14,000,000%. From the end of August 2021 until mid-November 2021, it is up approximately 570%. While these are extraordinary increases, there’s no way to know if they will continue at that same rate.
The developers have some exciting projects coming in the future and a history of substantial price increases. This gives us more confidence in its future, but as with all investments, we strongly encourage you to do your own research.
Based on the dog breed featured in the popular Doge meme, the Shiba Inu coin is taking the cryptocurrency world by storm, making new friends along the way. It is a fun project with a dedicated, passionate community behind it, and we’re excited to see where it goes in the future.
Are you currently a member of the ShibArmy? Are you thinking about joining?
Let us know in the comments below!