What is Shiba Inu(SHIB)?
Shiba Inu token (SHIB) is a cryptocurrency created in August 2020. It is named after the Shiba Inu, a Japanese breed of dog which is the same breed that is used in Dogecoin's logo.
It is a decentralized, open-source blockchain platform that is used to build and run decentralized applications (dApps).
Shiba Inu is built on the Ethereum blockchain and uses the Ethereum Virtual Machine (EVM) to execute smart contracts. It is powered by a cryptocurrency called Shiba Inu (SHIB), which is used to pay for transactions on the Shiba Inu network.
Shiba Inu has no pre-mine or initial coin offering (ICO) and was distributed through an airdrop. It has a total supply of 1 quadrillion (1,000,000,000,000,000) tokens, which was intended to make it inflationary and promote viral growth.
Shiba Inu has gained a significant following on social media and has been endorsed by various celebrities and influencers. However, it has also faced criticism for its high token supply and for being promoted as a "meme coin."
It's important to note that Shiba Inu is a highly speculative and risky investment, and the value of the SHIB token can fluctuate significantly. As with any cryptocurrency, it is important to carefully research and evaluate the risks before investing in Shiba Inu or any other cryptocurrency.