Shiba Inu (SHIB) -Token has taken over the Cryptoverse, calling itself a Dogecoin (DOGE) killer and causing many to trigger alarms. Meanwhile, 50% of the entire SHIB offering is being transferred to the wallet of Ethereum (ETH) co-founder Vitalik Buterin, while Ethereum fees skyrocketed again and DOGE received another boost from Elon Musk.
DOGE has become such a widespread phenomenon both inside and outside of Cryptoverse that it is no surprise that we see projects trying to capitalize on its image / likeness.
And today Elon Musk went back to Twitter to light up the flames. ask if Tesla should accept the coin – with 77% of nearly 1.24 million votes saying “yes” and 22 hours left.
DOGE jumped around 14% in half an hour and is now (10:10 UTC) trading at USD 0.519. The price stays the same in one day and increases by 19% in a week.
A digital dog coin, brought to life In August 2020, we’re talking about the city today. Referred to as the SHIB, it refers to the Shiba Inu dog breed that is so closely associated with DOGE that it is their first association.
$ SHIB is absolutely amazing. Many saw it from a mile away. Their logic was:
Elon => Doge
Doge => Shiba
It is inevitable
Hats off to everyone. pic.twitter.com/Fvh2fhCVR1
– Alex Krüger (@krugermacro) May 11, 2021
Maybe there isn’t much to say about SHIB, the price of which hasn’t gone up in the last month. Speculation suggests that it has caught the attention of Chinese investors and is not only listed on major stock exchanges Binance, OKEx, and Huobi – All popular with Chinese traders.
Announcement by Binance on May 10th describes It’s an experiment in building a decentralized community, and it’s another meme coin that is similar to Dogecoin [and] The first token listed and used as an incentive to use ShibaSwap, a decentralized switch. “In addition, three purses hold 60.5% of the total supply of the coin.
CEO Changpeng Zhao (CZ) also said that “a large number of users” are demanding SHIB.
Some have raised concerns $ SHIB Listing. We follow users. There are a large number of users requesting this, to the point where we no longer have ETH deposit addresses today due to SHIB. Never before for any other ERC20 coin.
I do not support it. Super high risk. NFA.
– CZ 🔶 Binance (@cz_binance) May 10, 2021
“With the SHIB token, users can hold billions or even trillions of them.” specified Announcement of OKEx.
The Shiba Token website adds to all that SHIB is nicknamed “DOGECOIN KILLER” and that it is an ERC-20 just Token that “can stay well under a cent and even surpass Dogecoin in a short time”.
50% of the total offer is blocked Uniswap and the keys were thrown away, they said, while “the remaining 50% of Vitalik Buterin was burned and we were the first project to go that route, so everyone has to buy on the open market to ensure fair and complete distribution, where developers don’t have team tokens to throw at the community “
The “Woofpaper” goes on to explain that the founder named Ryoshi, who claimed to dislike centralized exchanges, chose Ethereum as a “secure and well-established” network that enables decentralization and growth, while half of the total supply of Ethereum co- Co is sent. Founder’s wallet because “there is no size without a vulnerable point and as long as VB doesn’t make us rough, SHIBA will grow and survive.”
So the team gave Buterin the coins he didn’t ask for, which he wanted, but his move could potentially bring the price down should he ever decide to sell them.
Per CoinGecko, at 7:43 UTC the price of the coin rose 120% in one day, 1.944% in a week and 39.205% in a month and is now trading at USD 0.00003249. The maximum token offering is 1 quadrillion while the circulating supply and market capitalization remain below a question mark. According to CoinMarketCap, the market capitalization is $ 11.95 billion and ranks 18th according to this metric.