Five Things to Know about Shiba Inu in 2022

It’s becoming increasingly difficult to keep track of cryptocurrencies, as there are so many. Recently, Shiba Inu was featured as the latest digital currency in cryptocurrencies.

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This token is an Ethereum-based altcoin or meme coin. It features the Shiba Inu Japanese dog breed as its mascot. The current price is $0.000032 and the present circulating supply is 549,063,278,876,301.94 SHIB.

These are five facts you need to know about Shiba Inu, a cryptocurrency investor for 2022.

It is a speculative property

As a joke, the crypto was created as a direct competitor to Dogecoin. Dogecoin and Shiba Inu both fall under the meme coin category. The meme currency was created from a 2013 meme that featured the Japanese breed dog with the same name. The token was originally created by the community to represent a meme and has since grown into a multi-billion-dollar crypto project.

Shiba Inu can be used as a token and not a coin

Crypto is a token, which means that it doesn’t have its own blockchain. It must depend on other people. This token is built on top of the Ethereum blockchain. Coins are a term that refers to well-known cryptocurrencies such as DOGE and BTC. They have their own blockchains and are therefore known as coins.

Anonymous founder

The founder of this token, just like Bitcoin is anonymous. It was created using the pseudonym Ryoshi. The brains behind this ecosystem are unknown to the world. Ryoshi could either be an individual or a team.

Multi-token ecosystem

The crypto ecosystem is composed of three tokens: Shiba inu (SHIB), Leash(LEASH) and Bone (BONE). The most prominent component of Shiba Inu’s ecosystem is the SHIB token.

Volatile penny cryptocurrency

The volatile market and lack of regulation make investing in cryptocurrency risky. Altcoins and meme coins add another challenge. Even the exchanges that offer meme coins are careful to list them. This explains why, despite its usefulness and the market cap of well over $19 billion, SHIB is still a speculative crypto asset with a deflationary history.

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