Shiba Inu (code: SHIB) is a cryptocurrency created in August 2020 by an anonymous developer known as 'Ryoshi'. Built on the Ethereum blockchain, Shiba Inu is viewed as a 'meme coin' and is often referred to as the 'Dogecoin killer' due to its goal of directly competing with Dogecoin.
Utility of Shiba Inu (SHIB):
Means of trading and payment: SHIB is used as a digital currency, allowing users to make transactions and online payments. Some businesses and platforms have accepted SHIB as a valid payment method.
Investment and trading: SHIB attracts the interest of cryptocurrency investors, being traded on many major exchanges. The strong price volatility of SHIB provides investment opportunities for those who accept high risks.
Shiba Inu ecosystem: The Shiba Inu project does not stop at SHIB but also develops an ecosystem including other tokens like LEASH and BONE, along with the decentralized exchange ShibaSwap. ShibaSwap allows users to swap tokens, stake, and provide liquidity to earn rewards.
Community and charity: The Shiba Inu community has participated in many charitable activities and fundraising, demonstrating a spirit of solidarity and social responsibility. A notable example is when founder Ryoshi sent 50% of the total SHIB supply to the wallet of Vitalik Buterin, co-founder of Ethereum. Later, Buterin donated a large portion of this SHIB to COVID-19 relief funds in India.
In summary, Shiba Inu (SHIB) started as a 'meme coin' but has developed into a project with a diverse ecosystem, including a decentralized exchange and related tokens. Although still controversial regarding its actual value, SHIB has proven its ability to attract attention and community participation in the cryptocurrency world.
