Have you seen the 2013’s popular Internet meme called Doge? Well, that’s an inspiration of how the cryptocurrency Shiba Inu has been made. The Shiba Inu coin’s history is quite interesting. Do you want to know why? Keep on reading to find out.
Shiba Inu Coin, or SHIB, was launched in the year 2020. This relatively new cryptocurrency debuted in August 2020. It sets itself apart from its competitors by being less affordable and community-oriented. It continues to expand swiftly today. Learn about the fun facts of the Shiba Inu coin below.
1. Its founder is shrouded in mystery.
Ryoshi is the founder of the SHIB cryptocurrency. However, “Ryoshi” is a pseudonym for an anonymous and unknown individual. This makes the founder’s origin both mysterious and amusing. But Ryoshi has stated that the cryptocurrency is unique. Plus, it is community-driven, unlike other cryptocurrencies.
2. It began as a joke and a rival to Dogecoin (DOGE).
Based on memes, Shiba Inu Coin was created. Besides, this cryptocurrency’s beginnings appear to be nearly entirely linked to Dogecoin. It is a challenger to Dogecoin and describes itself as the “Dogecoin Killer.”
Even the mascot of the coins has a striking resemblance. In many aspects, the Shiba Inu puppy resembles the Dogecoin in appearance. It is a similar Japanese dog breed but with a few differences.
There are, however, a few distinctions to be made. It is a cryptocurrency meme token that is exclusively available as a coin. Shiba Inu coin trades under the symbol SHIB.
3. Its Shiba Inu Dog mascot has a fascinating backstory.
The dog in this coin is also quite popular. Its resemblance to Dogecoin is somehow close, but Shiba Inu Coin takes a step ahead.
The founder, Ryoshi, has a Shiba Inu dog featured in this cryptocurrency’s image. Many people now associate this coin and Dogecoin with the Japanese dog breed Shiba Inu. The Shiba mascot became a popular cryptocurrency mascot.
4. It has become popular on social media.
Many people have been shocked by Shiba Coin’s rapid rise. The consumers who backed it and informed the public were definitely the ones who propelled its expansion.
Another example is Tesla’s CEO, Elon Musk, who posted on Twitter that he has caught interest in having a Shiba Inu puppy. He also mentions Shiba Coins. As a result, Shiba prices began to soar quickly. In the crypto market, the SHIB rose to 300% market interest.
Aside from the United States, Shiba Inu Coin became popular all around the globe. For instance, Charles Xu Biqun, a Chinese billionaire venture entrepreneur, supported Shiba Coin. On Weibo, where he has more than 12 million followers, he mentioned Shiba Inu Coin. This led the coin to rival Dogecoin and diverted its customers away.
The Shiba coin’s primary supporters are well-known, but the general public is also encouraged. There have been reports of Americans from the middle and working classes earning profits from SHIB. You might anticipate your profit to rise as few as $100 if you invest and combine your resources.
5. It is both a coin and a currency.
Shiba Inu is a coin that distinguishes itself from the majority of cryptocurrencies. SHIB is a cryptocurrency with its own blockchain used and worked with. In addition, it is based on an existing blockchain. The main distinction is that Shiba Inu are offered as SHIB coins, making them unique.
SHIB has lately seen an increase in the value of its coins. When the Shiba Inu coin was first released, it was worth under $0.00000001. There were around one quadrillion tokens created after a rapid start.
It is simple to literally own the physical cryptocurrency coin if you wish to purchase it. The SHIB coin is a gold-plated crypto coin that you can acquire online for a really cheap cost. For example, PancakeSwap allows consumers to buy Shiba Inu coins. You can even buy it on sites like Etsy.
6. It is affordable and accessible to all.
Shiba Inu coin has difficulty getting started overall, but it was able to expand recently. SHIB was able to gain popularity at a low cost. At times, the Shiba coin was available to buy for $0.00001663, which is very cheap. You can purchase a huge amount of Shiba Inu coins for $4 to $5, excluding charges.
The possibility of earning money is what makes the first investment rewarding. The major appeal of cryptocurrencies is that you may keep the Shiba Inu coin for as long as you like.
7. It is community-driven with the aim to be more inclusive.
Shiba Inu coin, unlike many cryptocurrencies, focuses on community. The founder intended to build a unique cryptocurrency. SHIB’s primary purpose was to become a cryptocurrency project.
Its principal goal was to avoid having an exclusive owner. In addition, the business structure would be irrelevant as no executive or CEO is making the decisions that may affect Shiba Coin’s development.
The Bottom Line
And that’s all we can share about the Shiba Inu coin. It might be relatively new, but SHIB is the most approachable type among others. Its value is also getting more significant. The Shiba Inu coin still has a lot to offer as it continues to grow.
Finally, if you are curious whether to invest in SHIB or not, we can say that due to a number of market factors, this cryptocurrency can be considered a good long-term investment. Shiba Inu Coin is taking its lead and now surpassing other crypto coins as one of the most recognized and in-demand cryptocurrencies.