Shiba Inu (SHIB) is an altcoin created in 2020 on the Ethereum blockchain by an unidentified person or team called Ryoshi. The objective of Shiba Inu is to serve as the Ethereum-based equivalent to Dogecoin's mining Scrypt algorithm.
What Makes SHIB Unique?
- Revolves around NFT with Shiba Inu-inspired art, “Artistic Shiba movement.”
- A community-driven ecosystem that includes features designed to encourage community participation and engagement
What Affects the Price of SHIB?
- The coin's utility as a store value and tradeable asset
- Bitcoin's price
- Supply and demand
What Gives SHIB Value?
- Anti-inflationary system
- Donation and charity movement through Shiba Inu Rescue Association
- Community's effort to keep developing more utilities for SHIB
How Secure Is The SHIB Network?
SHIB is an ERC-20 token based on Ethereum, meaning SHIB uses proof-of-stake consensus.
What does Shiba Inu mean?
The Shiba Inu is a hugely popular breed of Japanese hunting dog and is the logo of SHIB coin
What is SHIB used for?
SHIB is used as a store of value, as well as a tradable crypto asset that facilitates global payments. SHIB is also used on ShibaSwap, Shiba Inu's native decentralized exchange (DEX).
You can consider SHIB If you're looking for an Ethereum based alt coins similar to DOGE.