A Complete Beginner’s Guide to Shiba Inu Coin (SHIB)

Shiba Inu coin is the newest doggy-themed cryptocurrency that is causing a lot of buzz. What you need to know about the SHIB ecosystem is outlined below.

Shiba inu (SHIB) is an Ethereum-based ERC-20 token that has gained in popularity this year, owing to its dog-themed environment, retail investor speculation on its price, and active community. Shib’s official Twitter account, for example, has more than 1.2 million followers — more than Cardano, Kraken, and Solana, for example.

The notorious dogecoin cryptocurrency was inspired by the Japanese breed of dog of the same name, which created a viral meme craze in 2013 and led to the establishment of the digital asset. Shibas, like dogecoin and the hundreds of other pet-inspired digital assets, have been known as “meme coins” in the industry.

In comparison to more established cryptocurrencies such as bitcoin and ether, a meme coin often provides little to no benefit to its owners. However, in the case of Shiba Inu, the development team appears to be making a genuine effort to give additional value to SHIB holders, including the introduction of a decentralized exchange in July.

Notably, the self-proclaimed “doge killer” has become the market’s second-most popular meme currency, owing to a desire to give greater usefulness to…