SHIBA INU

What is Shiba Inu (SHIB)?

• Ethereum-based altcoin with Shiba Inu dog breed mascot.

• Known as “the Dogecoin killer,” a meme coin for speculative investment.

Tokenomics

• Initial total supply of one quadrillion SHIB tokens.

• 50% were locked in Uniswap, and 50% were sent to Vitalik Buterin, who burned a significant portion.

Market Data

As of today #{today’s date}, the price of SHIBA INU is ₹0.001581 INR or 0.00001709 USD, with a 24-hour trading volume of 199914539.41 USD. The market capitalisation for SHIBA INU is 10049313339.44USD. The circulating supply is 589270542094094.1 SHIBA INU, with the total supply also being 589519104876146.4 SHIBA INU.

Pros and Cons

Pros:

• Community Support:

• Shiba Inu has a strong and active community known as the ShibArmy, which is crucial in its promotion and adoption.

• Ecosystem Development:

• The development of Shibarium, a Layer 2 solution, aims to reduce transaction costs and increase scalability.

• Versatility:

• Being an ERC-20 token, SHIB benefits from the robustness and versatility of the Ethereum network, allowing for smart contracts and decentralised applications.

Cons:

• High Volatility:

• Like many cryptocurrencies, SHIB is subject to high market volatility, leading to significant price fluctuations.

• Speculative Nature:

• Being a meme coin, its value is highly influenced by social media trends and celebrity endorsements, which may not be sustainable in the long-term.

• Limited Use Case:

• Despite its popularity, SHIB’s practical use cases are still developing, which may limit its utility compared to more established cryptocurrencies.

Why Should You Invest in the Coin?

• A high-risk, high-reward asset with a growing ecosystem.

• Development of Shibarium Layer 2 for broader adoption.

• Requires thorough research and risk tolerance assessment.

USP of the Coin

• Strong community support, ShibaSwap DEX, NFT art incubator.

• Upcoming Shibarium Layer 2 for reduced Ethereum fees and increased speed.

Problem the Coin is Solving

• High Ethereum transaction fees and slow processing times.

• Shibarium Layer 2 aims to enhance scalability and utility.

Founder and Team Background

• Created by anonymous “Ryoshi” in August 2020.

• The development team is largely anonymous, emphasising decentralisation.

ICO Price

• No traditional ICO; launched on Ethereum with supply distribution to Uniswap and Buterin.

Risks Associated in Investing in the Coin

• High market volatility and speculative nature.

• Reliance on community support for value and utility.

• The anonymity of founders and teams affects transparency and accountability.

Whitepaper Insights

Shiba Inu’s whitepaper, humorously termed the “WoofPaper,” outlines the project’s vision as a decentralised meme token that evolved into a vibrant ecosystem. The paper details the tokenomics of SHIB, including its massive supply and the strategic burn conducted by Vitalik Buterin. It introduces the ShibaSwap decentralised exchange to provide a safe and user-friendly platform for trading and staking SHIB and other tokens within its ecosystem. The whitepaper emphasises the importance of community in the project’s development and governance, highlighting initiatives like the Shiba Inu Incubator and Shiboshis NFTs to engage and reward the community. It also discusses the future development of Shibarium, a Layer 2 solution to enhance transaction efficiency and reduce costs on the Ethereum network. The document reflects Shiba Inu’s mission to transcend its meme coin origins by building a comprehensive DeFi ecosystem that offers real utility and fosters a robust and participatory community.

The Shiba Inu whitepaper introduces the Shiba Inu Ecosystem, a community-driven cryptocurrency project that aims to challenge traditional financial structures and promote radical acceptance of others. The project's founder, Ryoshi, envisioned a decentralised, spontaneous community-building experiment to start a revolution. The Shiba Inu Ecosystem is built on the foundation of community involvement, and the Shib Army, consisting of over 120,000 members, is the source of all its success. The whitepaper discusses the importance of decentralisation and how it can redefine wealth acquisition, going against traditional processes. The Shiba Inu Ecosystem includes ShibaSwap, a decentralised exchange that allows users to stake tokens and earn rewards. The tokenomics of ShibaSwap involve staking tokens in various pools, such as the Shib-Eth SSLP, Leash-Eth SSLP, and Bone-Eth SSLP, to earn rewards in BONE, the native token of ShibaSwap. The whitepaper also discusses the future of ShibaSwap, including the GRRR List, which outlines the upcoming features and improvements. The whitepaper concludes by thanking the community for their participation and emphasising the beginning of a new era for decentralised communities.