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Details: ht
Shiba Inu (SHIB) is a decentralized, community-driven cryptocurrency created in August 2020 by an anonymous developer using the pseudonym "Ryoshi". Named after the Japanese dog breed that inspired the Doge meme, Shiba Inu was designed as an Ethereum-based alternative to Dogecoin (DOGE).
Key Points:
- SHIB is an ERC-20 token operating on the Ethereum blockchain
- The SHIB ecosystem includes LEASH, BONE, ShibaSwap, Shibarium, and SHIB: The Metaverse
- SHIB functions as the primary currency, LEASH offers special rewards, and BONE governs the system
- SHIB exhibits extremely high volatility and has a low per-token value
- Approximately 589 trillion SHIB tokens are in circulation
- Future developments include Shibarium, SHI stablecoin, and SHIB metaverse expansion
Potential Benefits:
- Strong community support
- Extensive ecosystem
- Easy accessibility
Risks:
- Extreme volatility
- Dependence on market sentiment
- Regulatory uncertainty
Gate exchange can be used to purchase SHIB. Investors should invest cautiously and only invest money they can afford to lose.