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What is Shiba Inu Token?
Shiba Inu (SHIB), also known as Shiba Token, is a decentralized cryptocurrency created in August 2020 by an anonymous person known as “Ryoshi”. The token dubbed the “DOGE killer”, was modeled after Dogecoin and has a market capitalization of over $7 billion as of May 2021. The token’s price is low—less than two-hundred-thousandths of a cent—allowing users to “hold billions or even trillions of them”, with nearly 400 trillion currently in circulation.
The name, Shiba Inu token, is taken verbatim from the Shiba Inu, the same breed of dog that Dogecoin’s symbol was based on.
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History of Shiba Inu Coin
Shiba Inu was created in August 2020, modeled off Dogecoin, another cryptocurrency, by the anonymous founder known as “Ryoshi”. The token’s price at the time was negligible until reaching US$0.000002 on 20 April. On 9 May, the price soared to over $0.000009, peaking at $0.0000388 on 10 May. At this time it had a market capitalization of over 13 billion according to CoinMarketCap, which was the 14th highest market capitalization in the cryptocurrency market. The price fell to $0.000018, over a 40% drop, by 13 May, the same day that Vitalik Buterin donated more than 50 trillion Shiba Tokens to the India COVID-Crypto Relief Fund.
How to buy Shiba Inu token coin at a legit cryptocurrency exchange?
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What is the currency supply of Shibu Inu token?
As of 13 May 2021, a total of 394.796 trillion Shiba Tokens were in circulation, with the market cap sitting at $7.03 billion USD. The supply limit for the currency is one quadrillion (1,000,000,000,000,000), meaning that just under one-quarter of the currency is currently in circulation.
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