Shiba Inu Coin (SHIB) : A Beginner's Guide 2022

What is Shiba Inu Coin?

Shiba Inu is a well-known cryptocurrency that was created two years back. Initially, it was created in an abundance of quadrillion unlike bitcoin and was successfully circulating among the traders and investors. It is a famous meme coin that was created to take over another popular meme coin named Dogecoin. The Shiba Inu Coin is Ethereum based token and successfully operates on the Ethereum ecosystem.

Key features of Shiba Inu Coin

A cryptocurrency of any kind does not possess the quality to leave behind a bitcoin but Shiba Inu stood against all odds. It gained a lot of popularity last year and was the most viewed token in the crypto market. Some of the key features of Shiba Inu is given below:

• It is an Ethereum driven coin and is compatible with the Ethereum ecosystem.

• It was made a community-based meme coin that turned into a million dollars trading project.

• It is often considered a “Dogecoin-killer” coin.

• It has a multi-token ecosystem. It consists of mainly three tokens- SHIB, LEASH and BONE.

• It supports the users and allows them to lend and stake the tokens and get passive income as recurring fees.

• It is supported by Elon Musk that gives it a positive review.

• It supports NFTs and Defi-platforms in ShibaSwap to get a safe trading environment.

What is ShibaSwap?

ShibaSwap is a platform that allows the trade of popular Shiba Inu coins by the decentralized exchange. It works differently than the centralized exchange platforms like Coinbase, Binance, etc. It allows the users to get the tokens swapped without the involvement of an intermediary. It has the same functions as other decentralized platforms like UniSwap. The ShibaSwap allows you to trade, swap, stake the tokens and many more.

Who created the SHIB coin?

The creator of Shiba Inu Coin is known as Ryoshi, but little else is known about the mysterious cryptocurrency founder. SHIB was created as a decentralised meme token in August 2020. Following its creation, Ryoshi burned 50% of all SHIB to Ethereum co-founder Vitalik Buterin. Buterin has since donated his SHIB and other 'meme coins' collections to charity.

The Elon Musk effect

It is said that the tweet of the Tesla CEO Elon Musk hiked the value of the Shiba Inu coin. The price of the Shiba Inu remained low during the starting of the year 2021 and it suddenly rise after the tweet first tweet of Elon Musk about the Shiba Inu token. Then there was another tweet by him that raised the price of Shiba Inu nine times compared to the previous months. It recorded an instant hike of 25 per cent in the price on the day of his tweet which was the highest in that year. The fluctuation between the tweet of Elon Musk and the rise in the price of Shiba Inu is often called the ‘Musk Effect'.

Coinbase Shiba Inu

Coinbase is one of the well known and best platforms for crypto trading. It allows you to buy, sell, transfer or store your cryptocurrency. This platform is easily available globally and it is considered the best option for trading because it is not only easy but also secure. You can get your Shiba Inu conveniently with Coinbase. There are a few steps to complete your account in this platform that will take a few minutes and you will be ready to trade in the cryptocurrency market.

Shiba Inu news

Despite the falling market, the Shiba Inu coin has good pricing. Shiba was one of the cryptocurrency projects that performed well during the weak market. However, the coin has yet to experience a bull run. Shiba Inu is one of the few projects that has had a bullish surge, with the performance in 2021 being one of the greatest so far. As a result, its bull run has only just begun is noticeable.

Shiba Inu for sale near me

The most famous coin of 2021 is available to buy, sell or exchange from anywhere around the globe. There are so many platforms, both decentralized exchange like UniSwap and ShibaSwap and centralized exchange like Coinbase, Binance, FTX, etc. that made it possible and easy to get the collection of this token easily. You can begin any day to buy this coin by simply choosing your preferred platform and creating your account and it is ready to trade in the market.

Shiba Inu news today

The team of Shiba Inu Coin is working hard to make Shiba one of the best cryptocurrencies of 2022. One of the developments that will play a key role in propelling Shiba into a bull run is the ongoing preparation for the Doggy DAO launch. Shiba Inu is being prepared for the bull run by the growing products, including the upcoming Shiberse, a metaverse product.