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What is a Shiba Inu Coin?
People say that Shiba Inu was made to answer one question: what would happen if a cryptocurrency project was completely run by its community? This group says that Shiba Inu focuses on the power of the group, which they call the ShibArmy, to promote social harmony. The ShibArmy is based on the idea of “collective decentralization,” which gives the SHIB coin’s community power and brings them together.
The project’s fake founder, Ryoshi, released the SHIB token by sending half of all coins to Ethereum’s creator, Vitalik Buterin, and putting the other half up for trade on the popular decentralized exchange Uniswap. On May 12, 2021, Buterin gave a gift of SHIB tokens worth about $1 billion to the India Covid Relief Fund. He then burned about 40% of the total supply of SHIB tokens, which were worth about $6.6 billion at the time.
Shiba Inu: A Brief History
Shiba Inu token (SHIB), the first coin, was listed on Uniswap and started trading at almost no value. On May 8, the price of Shiba went up more than 300% because people were looking forward to Elon Musk’s Saturday Night Live skit, which would air later that day.
The Shiba ecosystem’s first token, the Shiba Inu token, can be bought on Uniswap. Shiba’s founders put half of the total supply on the decentralized exchange Uniswap, and the other half went to Ethereum co-founder Vitalik Buterin. Buterin burned the rest of his Shiba tokens after giving $1 billion worth of them to India’s Covid relief fund.
Shiba Inu Tokens can now be traded on Coinbase and eToro, which are both centralized exchanges.
Shiba Inu tokens can now be staked on Shibaswap to “dig” for bones, which are another cryptocurrency on the platform. ShibaSwap’s governance token is called “Bones.” People who own Bones can vote on the platform.
Their last token was called “leash,” and it was the most unstable stablecoin ever made. Stablecoins are digital currencies whose value is tied to something else, usually the U.S. dollar. Leash, on the other hand, was tied to the price of DOGE instead of the dollar, which made it quite unstable. Since then, the Shiba Inu decided to “unleash” Leash tokens from the price of Doge. This means that the price of Leash tokens is no longer tied to the price of Dogecoin. Only 107,647 tokens are available for Leash, and each one is worth about $1,900 at the time of this writing.
Is getting a eshib (Shiba) Inu a good idea?
Shiba Inu’s price went up a lot in 2021, probably because everyone was talking about eSHIB being added to Coinbase. Even though ShibaSwap has some interesting products, the protocol doesn’t have many clear advantages over other projects like Uniswap or SushiSwap. Shibaswap’s Bone tokens can only be mined with Shiba tokens, so if you want Bone, you’ll need to buy Shiba Inu. Shiba Inu might be for you if you like making guesses that might not be true.
How to buy SHIBA INU
There are many ways to buy cryptocurrency. SHIBA INU can be purchased using the Coinbase app, which is available in all Coinbase-supported countries. It’s fast, simple, and safe. Coinbase app users in the United States can buy SHIBA INU using this guide.
Become a member of Coinbase by signing up for an account.
Start the sign-up process by downloading the Coinbase app. Be prepared with a valid ID and proof of address in order to complete a transaction. Your ID verification may take more time than a few minutes depending on where you live.
payment method can be added at this point
Make sure you have a payment method connected by tapping the payment method box. Bank account, debit card, or wire transfer are all options.
Begin a business.
Once you’ve clicked the trading icon, select “Buy” from the list of options.
Choose from the assets list SHIBA INU
Try typing in “SHIBA INU” to look for SHIBA INU. When you see SHIBA INU show up in the results, tap it to open up the purchase screen.
Enter the amount you’d like to purchase.
Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into a eshib amount.
Make your purchase finalized.
When you’re ready to buy, press the “Preview buy” button. The specifics of your purchase will be displayed to you. Confirm your purchase after you’ve double-checked everything. You’ve just purchased SHIBA INU.