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Home Crypto News Market 10 Things You Must Know About Shiba Inu (SHIB) In 2022

10 Things You Must Know About Shiba Inu (SHIB) In 2022

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Shiba Inu is, without a doubt, the most popular crypto of 2021.

SHIB got 43 million more views than Bitcoin on coinmarketcap in 2021. Data shows that holders who purchased SHIB tokens at the time of launch have already seen an increase of 1768274.86% in their investment portfolio.

Let’s see some points you should keep in mind while dealing with Shiba Inu.

  • Shiba is a token and not a coin. The difference between the coin and the token is that coins have their blockchain while tokens are built on other blockchains. Incase of SHIB, it is built on the Ethereum blockchain.
  • Shib was born as a Doge killer. Doge was the first meme coin that gained some extraordinary popularity because of Elon Musk. Elon also declared Doge Better Payment Method Than BTC and confirmed Tesla would Accept Dogecoin For Merchandise. Despite all this, No doubt, Shib has challenged dogecoin dominance, and shib’s popularity is growing more than doge day by day.
  • Shib developer is anonymous. Mr. Ryoshi, the leading shib developer, is not seen, met, or recognized by anyone.
  • Shib has a Multi-token ecosystem. The Shiba Inu ecosystem consists of three tokens: Shiba Inu (SHIB), Leash (LEASH), and Bone (BONE).
  • Shib support some Defi features: Shib allows users to lend and stake Shib to earn rewards.
  • Shib also Enjoys Elon Musk’s sympathy. Elon was able to move Bitcoin with his tweets, assets with a trillion-dollar market cap, so meme coins are nothing when Elon comes to tweet about them. Shib has also relished some support from Elon in the past.
  • Utility-driven ecosystem: A coin can only survive with some utility; without any use cases, a token is worthless. Shib’s team is making admirable efforts to enhance the token’s utility. Shiba Inu’s team is working day and night on unique things like Shibarium blockchain, NFT Multiplayer Collectible Card Game, Doggy DAO, and much more.
  • Extremely Volatile: Crypto is usually volatile, but some are hotter than others; falling or rising 40 to 50% in hours is not unique for Shib.
  • Vitalik connection: Shib’s dead wallet was created in May 2021, when Ethereum founder, Vitalik Buterin was first gifted half of SHIB’s total circulating supply by the team of Shiba Inu. In response, he decided to destroy 90% of the total circulating supply by sending the tokens to the dead wallet and throwing away the keys. The decision was made as the Co-founder of Ethereum was not in favor of the centralized “Power.” With this act, he also sends the message to the people worldwide that Crypto is really “Decentralized,” which means there is no central authority that will control the market. This, in return, boosts Shiba Inu’s price, and now Shiba Inu is up 384690.38% from its all-time low of $0.00000002, registered on Aug 09, 2021.

A total of 410,300,751,609,570 SHIB tokens, which account for 41.03008% of the initial supply of 1 quadrillion, has been burned till now. Also, Flexa and Bitpay made it possible for thousands of businesses to accept SHIB as a payment method.

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Albert Brown
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.


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