Shiba Inu (SHIB) Cryptocurrency Market Data and Information

Shiba Inu (SHIB) Trust Score
Crypto Center's Shiba Inu (SHIB) Trust Score
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Shiba Inu (SHIB) Bull/Bear Trend Strength
7 Day Market Momentum
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30 Day Market Momentum
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(Strong Buy)
Shiba Inu (SHIB) Latest Market Data
Current Values
- Current Price: $0.000014
- 24h Trading Volume: $188,076,454
- Market Cap: $8,353,558,151
- 24h Market Cap Change: ▲ $94,632,340
- Fully Diluted Valuation: $8,357,170,034
Price Changes
- 24 Hour Price Change: ▲1.16%
- 7 Day Price Change: ▼ 9.02%
- 30 Day Price Change: ▲23.98%
- 60 Day Price Change: ▼ 1.95%
- 1 Year Price Change: ▼ 15.89%
Current Price Relative to Yesterday Open/Close
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Current Price Relative to Yesterday High/Low
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Current Price Relative to 7 Day Open/Close
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Current Price Relative to 7 Day High/Low
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Current Price Relative to 30 Day Open/Close
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Shiba Inu (SHIB) 30 Day Open, High, Low, Close Chart
What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) is a meme-inspired cryptocurrency that emerged as an alternative to Dogecoin (DOGE). Featuring the Shiba Inu dog breed as its mascot, it operates as a community-driven project built on the Ethereum blockchain. SHIB was created in August 2020 by an anonymous entity known as “Ryoshi.” Ryoshi envisioned SHIB as an experiment in decentralized spontaneous community building and subsequently relinquished control to the community. This has led to significant growth and development of the Shiba Inu ecosystem. The initial supply of SHIB was a staggering one quadrillion tokens, designed for abundance. A key event in its history involved allocating 50% of the initial supply to Vitalik Buterin’s Ethereum wallet. Buterin then donated 10% of his SHIB holdings to a COVID-19 relief effort in India, and burned the remaining 40%. This donation was worth approximately $1 billion at the time, making it one of the largest charitable contributions ever made.
How Does Shiba Inu (SHIB) Work?
Unlike Dogecoin, which operates on its own blockchain, Shiba Inu is built on the Ethereum blockchain. This allows SHIB to leverage Ethereum’s established security and infrastructure and facilitates the development of various applications and tokens within the Shiba Inu ecosystem. The ecosystem includes three primary cryptocurrencies: SHIB, LEASH, and BONE. SHIB serves as the native token. LEASH is a token with a limited supply used to incentivize participation on ShibaSwap, the ecosystem’s decentralized exchange (DEX). BONE functions as the governance token, allowing holders to participate in proposals and voting within the Doggy DAO (Decentralized Autonomous Organization). The Ethereum blockchain provides a secure and decentralized foundation for SHIB and its related tokens. All transactions are recorded on the blockchain, enhancing transparency and immutability. Smart contracts enable the automated execution of agreements and functionalities within the Shiba Inu ecosystem, such as token swaps and staking rewards on ShibaSwap. The burning mechanism, where tokens are intentionally destroyed and removed from circulation, aims to reduce the overall supply of SHIB, potentially increasing its value over time.
Shiba Inu (SHIB) Key Features and Technology
Shiba Inu’s key features extend beyond its meme coin origins, encompassing a developing ecosystem with several functional elements:
- ShibaSwap: A decentralized exchange (DEX) allowing users to swap tokens, provide liquidity, and earn rewards. It’s a core component of the Shiba Inu ecosystem, enabling decentralized trading.
- LEASH: Originally intended to track the price of Dogecoin, LEASH now serves as a token with a limited supply, incentivizing users to participate on ShibaSwap.
- BONE: The governance token empowers SHIB holders to participate in the decision-making process through the Doggy DAO, enabling decentralized governance.
- NFTs: The Shiba Inu ecosystem also incorporates Non-Fungible Tokens (NFTs), adding another layer of engagement and collectibility.
- Shibarium: A Layer-2 scaling solution is in development that aims to reduce transaction fees and increase speed.
- Doggy DAO: A decentralized autonomous organization will provide the community with greater control over the Shiba Inu ecosystem.
- Play-to-Earn Games: An immersive blockchain gaming experience.
The reliance on the Ethereum blockchain provides security and smart contract functionality. This allows for the creation of decentralized applications (dApps) and automates processes within the ecosystem. The combination of these features differentiates SHIB from a simple meme coin, showcasing its ambition to evolve into a comprehensive decentralized ecosystem.
What is Shiba Inu (SHIB) Used For?
While initially conceived as a meme coin, Shiba Inu’s utility has expanded with the development of its ecosystem. SHIB can be used for various purposes:
- Trading and Investment: SHIB is traded on numerous cryptocurrency exchanges, allowing users to buy, sell, and speculate on its price.
- Liquidity Provision: Users can provide liquidity to ShibaSwap, earning rewards in the form of transaction fees and other tokens.
- Governance: Holding BONE allows users to participate in the Doggy DAO, influencing the direction and development of the Shiba Inu ecosystem.
- Staking: Users can stake SHIB, LEASH, and BONE tokens to earn rewards on ShibaSwap.
- NFTs: SHIB holders can purchase and trade NFTs within the Shiba Inu ecosystem.
- Payments: While not widely adopted, some merchants may accept SHIB as a form of payment.
The developing metaverse and gaming aspects of the Shiba Inu ecosystem will also potentially add additional use cases for SHIB and its related tokens. The team has outlined additional plans to expand SHIB utilities.
How Do You Buy Shiba Inu (SHIB)?
Buying Shiba Inu is a relatively straightforward process, however, it is always advisable to do your own research and be aware of potential risks involved in buying cryptocurrencies. Typically, it involves the following steps:
- Choose an Exchange: Select a reputable cryptocurrency exchange that lists SHIB. Popular options include:
- Binance
- Coinbase
- KuCoin
- Kraken
- Crypto.com
- Create an Account: Register for an account on the chosen exchange. This usually requires providing personal information and completing a verification process (KYC – Know Your Customer).
- Fund Your Account: Deposit funds into your exchange account. Most exchanges support various payment methods, such as:
- Bank transfers
- Credit/debit cards
- Other cryptocurrencies (e.g., Bitcoin, Ethereum)
- Purchase SHIB: Once your account is funded, navigate to the SHIB trading pair (e.g., SHIB/USDT or SHIB/USD). Enter the amount of SHIB you wish to purchase and execute the trade.
- Secure Your SHIB: After purchasing SHIB, it’s recommended to transfer it to a personal cryptocurrency wallet for added security. This is covered in the next section.
Be sure to research the exchange’s security measures, fees, and supported payment methods before making your decision.
How Do You Store Shiba Inu (SHIB)?
Securing your SHIB is crucial to protecting your investment. There are two main types of cryptocurrency wallets:
- Software Wallets (Hot Wallets): These are applications installed on your computer or mobile device. They are convenient but generally considered less secure than hardware wallets.
- Examples:
- MetaMask (browser extension and mobile app)
- Trust Wallet (mobile app)
- Coinbase Wallet (mobile app)
- Pros:
- Free to use
- Easy to set up
- Convenient for frequent transactions
- Cons:
- More vulnerable to hacking and malware
- Require an internet connection
- Hardware Wallets (Cold Wallets): These are physical devices that store your private keys offline. They offer the highest level of security but are less convenient for frequent transactions.
- Examples:
- Ledger Nano S/X
- Trezor Model T
- Pros:
- Extremely secure (private keys are stored offline)
- Immune to hacking and malware
- Cons:
- Cost money to purchase
- Less convenient for frequent transactions
- Requires more technical knowledge
Consider your individual needs and risk tolerance when choosing a wallet. For long-term storage of significant amounts of SHIB, a hardware wallet is highly recommended.
Future Outlook and Analysis for Shiba Inu (SHIB)
The future of Shiba Inu is dependent on various factors, including the continued development and adoption of its ecosystem, its community support, and overall market trends within the cryptocurrency space. The success of projects like Shibarium, Doggy DAO, and its metaverse initiatives will play a crucial role in determining its long-term viability. Furthermore, SHIB’s ability to evolve beyond its meme coin origins and establish itself as a legitimate utility token will be critical. The development of practical applications and real-world use cases, along with successful partnerships and integrations, can help drive adoption and increase its value. However, it’s important to acknowledge the inherent risks associated with cryptocurrencies, including price volatility and regulatory uncertainty. Investors should conduct thorough research and exercise caution before investing in SHIB or any other cryptocurrency. Ultimately, the future of Shiba Inu hinges on its ability to adapt, innovate, and deliver on its promises to its community.