Shiba Inu Token (SHIB) Definition
Shiba Inu Token (SHIB) is a decentralized meme token that evolved into a vibrant ecosystem. ShibaSwap, fun tokens, Artist Incubator, and an ever-growing Shiba Inu community are part of this ecosystem. Created in August 2020 by an unknown person or group of people going by the name “Ryoshi”, SHIB is an ERC-20 token hosted on the Ethereum blockchain.
Shiba Inu Token (SHIB) Key Points
- SHIB is an Ethereum-based ERC-20 token.
- It was designed to be a fun and lighthearted cryptocurrency.
- The token is named after a breed of Japanese dog which is also the mascot of Dogecoin.
- Another key feature of SHIB is its massive total supply of one quadrillion tokens.
- It has been dubbed as “Dogecoin Killer” as it mimics Dogecoin’s mascot and aims to surpass it in terms of market cap.
What is the Shiba Inu Token (SHIB)?
The Shiba Inu Token (SHIB) is a cryptocurrency that was created in 2020. It’s named after the Shiba Inu, a Japanese breed of dog that’s a popular pet worldwide. SHIB was created to be a fun token and is even referred to as a “DOGECOIN Killer” due to its association with the mascot of another popular meme cryptocurrency, Dogecoin.
Who created the Shiba Inu Token (SHIB)?
SHIB was created by an unknown person or group of people going by the pseudonym “Ryoshi”. Despite many attempts from the community, the creator’s identity remains unknown, adding to the token’s enigmatic appeal.
When was the Shiba Inu Token (SHIB) created?
Shiba Inu Token was created in August 2020. The project has rapidly grown since its inception and has emerged as a leading player in the meme tokens market space.
Where can Shiba Inu Token (SHIB) be used?
SHIB can be used in various ways within the Shiba Inu ecosystem. Holders can stake their SHIB to earn rewards via ShibaSwap platform, they can use it in Artist Incubator, and also for transactions within its growing community. Furthermore, SHIB is also tradable on several prominent cryptocurrency exchanges.
Why was Shiba Inu Token (SHIB) Created?
SHIB was created as a fun, lighthearted token with a wide-reaching, vibrant ecosystem. It was designed to connect a large and active community around a meme-themed cryptocurrency.
How does Shiba Inu Token (SHIB) Work?
Being an ERC-20 token, SHIB operates on the Ethereum blockchain. Upon generation, 50% of the total supply was locked in Uniswap and the rest of the keys were burned to Ethereum’s co-creator, Vitalik Buterin. This ensures a fair and complete distribution where devs don’t own any team tokens they can dump on the community.
