What is Shiba Inu Coin?Shiba Inu Coin (SHIB) or Shiba Token was created in August 2020 by an anonymous person called Ryoshi. SHIB is nicknamed the Dogecoin-killer for the simple reason that it can outpace Dogecoin in terms of price. Users can hold billions and even trillions of SHIB tokens as one token costs a mere $0.00001655. the project also boasts with its own decentralized exchange, ShibaSwap. SHIB is the first token to be listed on the DEX.
The coin has a market cap of over $6 billion and nearly 400 trillion tokens are in circulation. Shiba Inu Bone token is said to be released soon on the network and take decentralized financing to another level.
Ethereum’s Vitalik Buterin recently donated more than 50 trillion SHIB tokens to the India Covid-Crypto Relief Fund. Furthermore, the project also runs a Rescue Shiba Inus initiative. The community project aims to rescue Shibas across the globe and invites users to donate to the cause when shopping on smile.amazon.com.
Who is the better coin?SHIB and Dogecoin have much in common. Both take their name and likeness from the Japanese Shiba Inu dog. However, SHIB is an improved and new version of Dogecoin. SHIB is built on the Ethereum network and aims to give Dogecoin a run for its money.
Some crypto fans have expressed concern over Elon Musk’s ability to manipulate the price of cryptocurrencies and Dogecoin. The price of Dogecoin plummeted following Musk’s recent appearance on Saturday Night Live and has yet to rebound. SHIB, in contrast has rocketed and could outpace the value of Dogecoin should it cross the $0.01 value.
Both coins have been described as a “joke” as they do not have much underlying value. But as long as investors pour money into these coins in hope for big returns, the value of the coins can continue to increase.
Some say if you missed the Dogecoin train, SHIB is your ticket to the moon.
AltCoinTrader gave away free Shiba Inu CoinAltCoinTrader will launched SHIB trading on Wednesday, 19 May 2021 and gave each active client 40 000 free SHIB tokens!
All you have to do to qualify for the giveaway is have a verified level 2 (or above) AltCoinTrader account with a positive balance (ZAR or cryptocurrency) and two factor authentication (2FA) on your account. Happy trading!