Shiba Inu is a joke coin or meme coin developed by Ryoshi in August 2020 as a competitor to Dogecoin.
The Shiba Inu has made headlines for two reasons. Elon Musk, the founder of Tesla, recently tweeted that he would like to own a Shiba puppy, which sparked a 300 percent increase in cryptocurrency rates.
Shiba Inu coin prices dropped by about 40% after Vitalik Buterin, a 27-year-old Russian Canadian billionaire, donated 50 trillion Shiba Inu coins to the India Covid Crypto Relief Fund, which is run by Indian crypto entrepreneur Sandeep Nailwal.
Shiba Inu is owned by who?
The owner of Shiba Inu is a man called Ryoshi, but no one knows his full name. Shiba Inu is a Japanese dog breed that inspired the meme coin. Shiba Inu, incidentally, claimed to be the "Dogecoin Killer" when it was unveiled in August 2020 and is considered a competitor to Dogecoin. Shiba Inu's mascot is based on a Shiba puppy and looks very similar to Dogecoin's. Dogecoin is also used to power the platform and model.
What makes Shiba Inu so unique?
Dogecoin is a cryptocurrency that was created using the same technology as Bitcoin. Ethereum is used to fuel Shiba Inu tokens. Non-fungible tokens (NFTs) use the Ethereum platform's ERC-721 token standard, whereas fungible tokens like Shiba Inu use the ERC-20 token standard.
According to the official website, the SHIB token is the company's first token and allows users to keep billions or even trillions of them. According to the Shiba Inu's website, further additions are on the way. The developers plan to release the next coin, Bone Dogecoin Killer, in the near future.
What is the best way to exchange Shiba Inu?
WazirX is an Indian exchange where you can trade the Shiba Inu coin. WazirX priced it incorrectly at Rs 3 on Thursday, and the company explained that the higher price was due to a misconfiguration. The prices plummeted to 0.0015 after it was discovered.
Shiba Inu tokens are also identified on other sites including Uniswap and CoinDCX's web edition. Uniswap is an Ethereum-based decentralised exchange (DEX) that allows users to buy and sell cryptocurrencies in exchange for ETH and other Ethereum-based tokens. These coins can only be bought in USDT / BUSD, not in Indian rupees (INR).
Shiba Inu is currently trading in the WazirX platform in the range of 0.001417 to 0.001419.