What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) started as a fun meme token but has since evolved into a widely recognized cryptocurrency, captivating both the crypto community and mainstream media. Initially launched as a playful digital asset, SHIB quickly attracted a following of developers who have worked to create a decentralized ecosystem around the token. This includes the launch of its own Layer 2 (L2) blockchain, Shibarium. In the early days, 50% of SHIB’s total supply was sent to Vitalik Buterin’s Ethereum wallet. Over time, SHIB's price soared from a fraction of a cent ($0.000000000056) to a peak of $0.000084, representing a massive 150,000x increase in just eight months.
This incredible surge in value led Vitalik Buterin to donate 10% of his SHIB holdings to a COVID-19 relief fund in India, amounting to approximately $1 billion. The remaining 40% of his holdings were permanently burned, reducing the total supply and further increasing the scarcity of SHIB.
What Has the Shiba Inu Community Worked On?
The Shiba Inu development team has worked tirelessly to build a robust decentralized ecosystem. They introduced Shibaswap, a decentralized exchange (DEX), which supports two new tokens: LEASH and BONE. LEASH is a scarce supply token offering incentives on Shibaswap, while BONE acts as the governance token, giving holders voting power in the Doggy DAO (Decentralized Autonomous Organization). Most recently, the Shiba Inu community launched Shibarium, a dedicated Layer 2 blockchain aimed at improving scalability and lowering transaction costs.
Where Can You Buy Shiba Inu (SHIB)?
You can buy and trade Shiba Inu (SHIB) on several popular centralized cryptocurrency exchanges. The most active exchange for SHIB is Binance, with the SHIB/USDT pair being the top trading pair, boasting a 24-hour trading volume of over $354 million. Other exchanges offering SHIB include OKX and DigiFinex, where you can easily trade the token.
What is the Daily Trading Volume of Shiba Inu (SHIB)?
Over the last 24 hours, Shiba Inu’s trading volume has been approximately $2.49 billion, a significant drop of 55.80% from the previous day, signaling a temporary decline in market activity.
What is the All-Time High for Shiba Inu (SHIB)?
The highest recorded price for Shiba Inu (SHIB) occurred on October 28, 2021, when SHIB peaked at $0.00008616. Currently, the price is 65.05% lower than its all-time high, reflecting a dip in market conditions.
What is the All-Time Low for Shiba Inu (SHIB)?
The lowest price for Shiba Inu (SHIB) was recorded on November 28, 2020, at $0.0000000105637. Since then, SHIB’s value has skyrocketed, experiencing a 53,418,775.85% increase from its all-time low.
What is the Market Cap of Shiba Inu (SHIB)?
Shiba Inu’s market capitalization currently stands at $17.73 billion, making it the 13th largest cryptocurrency by market cap, according to CoinGecko. This value is derived by multiplying the current token price by the circulating supply, which is estimated at 590 trillion SHIB tokens.
What is the Fully Diluted Valuation of Shiba Inu (SHIB)?
The Fully Diluted Valuation (FDV) of Shiba Inu is $17.73 billion, representing the maximum possible market cap assuming all 590 trillion SHIB tokens are in circulation. Depending on the emission schedule, it may take years for the FDV to materialize fully.
How Does Shiba Inu’s Price Performance Compare Against Its Peers?
In the past week, Shiba Inu (SHIB) has outperformed both the global cryptocurrency market, which increased by 5.70%, and the GMCI 30 Index, which remained flat. SHIB posted a solid 16.30% price increase, demonstrating its resilience in the market.
How to Add Shiba Inu (SHIB) to MetaMask?
To add Shiba Inu (SHIB) to your MetaMask wallet, simply import the token using SHIB’s contract address: 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce. You can manually enter this address or use the "Add Token" feature on MetaMask, which will allow you to quickly view and trade SHIB on decentralized exchanges.
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