SHIBA INU
What is it?
Shiba Inu (SHIB) is a cryptocurrency, also known as memecoin, created in August 2020 on the Ethereum network. Inspired by the Shiba Inu dog breed, SHIB has become popular for its fun design and strong online community.
Who created?
SHIB was created by an anonymous individual or group known as Ryoshi. The creator(s) chose to remain anonymous, but defined the project as an "experiment in building a spontaneous decentralized community."
Characteristics:
ERC-20 Token: follows the technical standard of the Ethereum network, allowing easy integration with compatible exchanges and wallets.
Total supply: 1 quadrillion coins, with half burned in a liquidity pool and the other half donated to Ethereum co-founder Vitalik Buterin.
Expanding ecosystem: includes ShibaSwap (decentralized exchange), Shibarium (Layer 2 blockchain), Shiba Incubator and Shiba Inu NFTs.
Engaged community: known as SHIBArmy, it is active on social media and contributes to the development of the project.
Differences from Dogecoin:
Token burning: part of SHIB was burned, while Dogecoin has infinite supply.
Ecosystem: SHIB has a developing ecosystem, while Dogecoin is primarily focused on being a payment currency.
Value and Investment:
Volatility: like other cryptocurrencies, SHIB has high volatility, with prices fluctuating significantly.
Risks: Investing in cryptocurrencies involves risks, including total loss of capital.
Research: it is essential to research and understand the risks before investing.