No Result
View All Result
Monday, February 6, 2023
  • Login
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
No Result
View All Result
Home Crypto

What Is Shiba Inu Coin Cryptocurrency?

LiveBetPro by LiveBetPro
May 24, 2022
in Crypto
15
What-is-Shiba-Inu
191
SHARES
1.5k
VIEWS
What-is-Shiba-Inu

Shiba Inu is one type of cryptocurrency, or digital currency, that is available only online. Its price soared in 2021, multiplying many times over, but still trades for tiny fractions of a cent. Still, that’s enough to make the coin one of the world’s most popular cryptocurrencies, according to CoinMarketCap. But don’t get this coin confused with the Japanese dog breed that inspired its name.

Here’s what Shiba Inu is and what you need to know about how it works.

Related articles

crypto

Here’s why India held on to older crypto reforms in the national budget 2023

February 2, 2023
BitcoinEthereumRipple

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto rally built on house of cards, collapse imminent

February 1, 2023

What is Shiba Inu?

Created in August 2020 by a founder called Ryoshi, Shiba Inu takes its moniker from the cuddly dog of the same name. And don’t get it confused with the similarly canine-themed Dogecoin, which features the same breed as its mascot. Instead, Shiba Inu calls itself a “Dogecoin killer.”

Like many other cryptocurrencies, Shiba Inu operates on a decentralized computer network running a database called blockchain. This blockchain database tracks and manages the crypto coin, verifying transactions and recording every transaction that occurs with it. So the database ends up being a long-running record of the movement of the cryptocurrency. Specifically, Shiba Inu runs on the Ethereum blockchain, offering the safety and functionality of that platform.

Shiba Inu trades for just fractions of a penny. In November 2021 one coin traded for less than $0.00005, so about 200 of them equaled one cent. Despite the minuscule price, the value of all Shiba Inu coins was more than $26 billion, due to the approximately 549 trillion in circulating supply, according to CoinMarketCap. It has nearly 1 quadrillion authorized coins. However, about 40 percent of those coins were irrevocably “burned” by Ethereum co-founder Vitalik Buterin, meaning that they’ve effectively been destroyed and cannot be used again.

Shiba Inu spiked in price during September 2021, when it was added to the Coinbase platform.

What does Shiba Inu do?

Shiba Inu is really divided into multiple tokens that help the entire cryptocurrency ecosystem function:

  • SHIB – This is the foundational Shiba Inu currency that can be traded and used as a medium of exchange.
  • LEASH – This token is limited to 107,646 units, making it the most limited of the Shiba Inu-related coins. It provides staking rewards for those validating transactions in the cryptocurrency.
  • BONE – This token has 250 million units, and it’s used to allow those using Shiba Inu to vote on various proposals.

Shiba Inu also has other aspects of a community, including ShibaSwap, its own decentralized platform for trading coins, and Shiboshis, a type of non-fungible token (NFT).

The cryptocurrency continues the riff on its canine-themed coin across its ecosystem, including the crypto’s white paper, which founders call a “WoofPaper.” Meanwhile, it refers to those who own and support the coin as its “Shib Army.”

Is Shiba Inu a good investment?

Shiba Inu has risen substantially during its brief existence, but that alone doesn’t make it a good investment. Rather than looking at the price gains and falling into fear of missing out, it’s vital to understand what you’re buying and why it may or may not rise in value. In the case of most cryptocurrencies, they’re not backed by the assets or cash flow of an underlying business.

That backing by assets and cash flow is something that differentiates a traditional investment from a cryptocurrency. With a stock you’re investing in the future of that business, so if it does well, your investment will do well over time. And you have a legal claim on the business, too.

On the other hand, with cryptocurrency such as Shiba Inu, your investment is not backed by any asset or cash flow at all. The only way you make money is if someone comes along and is willing to pay you more for your coins. So the key driver over time of cryptocurrency is optimism and speculation. Traders win when they can get someone else to buy cryptocurrency for more, or what’s called the greater fool theory of investing.

If the well of traders runs dry, then they won’t keep running into the market to push up the price. This speculative nature keeps legendary investors such as Warren Buffett away from crypto.

Finally, there’s the issue of Shiba Inu’s price, which is tiny. Some traders see it as a type of crypto lottery ticket because they can afford, for example, 1 million of these coins (at a cost of $50). Like with penny stocks, they think that if the coin just went up to one cent, they’d make a lot of money. Or even if Shiba Inu went to where Dogecoin was trading, they’d cash in their chips.

While the coin’s price may eventually reach the moon – the odds against it are astronomically high.

Post Views: 702

Related posts:

bitcoinBitcoin EthereumEthereum LitecoinLitecoin Tether (USDT)Tether (USDT) xrpRipples (XRP) faucetpay-siteFaucetpay Microwallet Review [2022] – Scam or legit? cointiply-reviewCointiply Review – Is It a Legit Site To Earn Free Bitcoin and Crypto [2022]? dogecoinDogecoin

Related Posts

crypto

Here’s why India held on to older crypto reforms in the national budget 2023

by LiveBetPro
February 2, 2023
1

(Cointelegraph Team) Cryptocurrency and blockchain technology found no mention in India’s union budget for the year 2023, bringing down the...

BitcoinEthereumRipple

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto rally built on house of cards, collapse imminent

by LiveBetPro
February 1, 2023
2

(Akash Girimath - FXStreet) - Bitcoin price is likely to pull back to the $21,250 support level as bulls exhaust...

crypto

ARK makes coinbase buy as coin jumps 20% on-week

by LiveBetPro
February 1, 2023
0

(CoinDesk Analysis Team) Tech investor Cathie Wood has made her first purchase of the year of Coinbase (COIN) stock. According...

Ethereum

Ethereum Shanghai hard fork and token unlock: A complete guide to unstaking ETH

by LiveBetPro
January 11, 2023
0

(Ekta Mourya - FXStreet) - Ethereum Shanghai Hard Fork’s activation in March 2023 will be closely followed by a token...

Litecoin

LTC/USD – Forecasting the wave (five) within the second dimension correlation

by LiveBetPro
January 11, 2023
1

(Elliott Wave Forecast Team) One of the well-known facts of the market is correlations between instruments. However, that rule does...

Load More
  • Trending
  • Comments
  • Latest
freebitco-Multiply BTC

Freebitco Review – Discover Multiple Ways To Earn Free Bitcoins

June 4, 2022
earn-free-bitcoins-daily-without-investment-2022

How can I get free bitcoin without investment [2022]?

July 2, 2022
Are-Your-Investments-Safe-with-Crypto-Trading-Bots

Are Your Investments Safe with Crypto Trading Bots?

June 8, 2022
faucet-main

What Are Crypto Faucets ?

May 23, 2022
bitcoin

Bitcoin

115
Ethereum

Ethereum

57
How-To-Use-Crypto-Online-Gambling-Websites

How To Use Crypto Online Gambling Websites

44
8-Tips-On-How-To-Make-Money-Sports-Betting

8 Tips On How To Make Money Sports Betting

44
bitcoin

Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

February 3, 2023
bitcoin

Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms

February 3, 2023
bitcoin

Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal

February 2, 2023
crypto

Here’s why India held on to older crypto reforms in the national budget 2023

February 2, 2023

Connect with LiveBetPro.com

telegram twitter

Now online

livebetpro

Livebetpro Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact Us:

– Skype: fxvnpro
– Email:
livebetpro@gmail.com
admin@livebetpro.com

Payment Methods

– Webmoney
– Perfect Money
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Disclamers

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in Casinos, Bettings, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. Livebetpro is not responsible for any information on the website.

Risk Warning

Please be aware of your investment into bettings/casinos/cryptos which is high risk and not suitable for everyone.

Recent Posts

  • Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher
  • Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms
  • Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal
  • Here’s why India held on to older crypto reforms in the national budget 2023
  • Bitcoin UTXOs older than five years surged during bear market
  • If Ethereum withdrawals are enabled today $1.5 billion in ETH would be on the move, here’s why this matters
  • Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto rally built on house of cards, collapse imminent
  • ARK makes coinbase buy as coin jumps 20% on-week
  • Ethereum Shanghai hard fork and token unlock: A complete guide to unstaking ETH
  • LTC/USD – Forecasting the wave (five) within the second dimension correlation

Categories

  • Affiliate Programs
  • Betting Tips
  • Bitcoin
  • Blockchain
  • Blockchain Gaming
  • Crypto
  • Crypto Casinos
  • crypto lending platform
  • Crypto Mining
  • Crypto Trading
  • Crypto Trading Bots
  • Crypto Wallets
  • Cryptocurrency Price analysis and Prediction
  • DeFi
  • Earn Free Crypto
  • Ethereum
  • Exchanges
  • Faucets
  • Investment News
  • NFT
  • Promotions
  • Ripple
  • Scripts Bots
  • sport betting
  • USDT
  • Web3
  • XRP
  • About
  • FAQ
  • Contact Us

© 2022 by LiveBetPro.

No Result
View All Result
  • Contact Us
  • Homepages

© 2022 by LiveBetPro.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/livebetpro.com/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111