A few days ago, we all witnessed a huge downfall in the crypto market due to which many cryptos faced a lot of backlash. Yet there is one crypto currency that has been getting a lot of attention drawn to itself, and that is the Shiba Inu coin. Every day, the hype surrounding this crypto is increasing and there is a lot of interest in learning more and more about this cryptocurrency. Hey everyone. I'm Sujan and I welcome you to this post from Tech2the Point about Sheba Inu coin. In this post, we will explore Shiba Inu coin and we'll go through really exciting concepts and components revolving around it. First, we'll take a look at the
Summery Of the Post:
1. Origin of Shiba Inu coins.
2. What is Sheba Inu coin?
3. How it is different and unique from Doge coin.
4. Why it is so popular?
5. The future of Shiba Inu coin.
Okay, so let's get started with the Post.
1. So what is the origin of Shiva Inu coin?
The Shiba Inu coin was created in August 2020 by an anonymous person calling themselves Rioshi, an Indian. It was intended to be an altcoin of Doge coin, which itself was an altcoin of Bitcoin.
This meme coin was named after the Japanese dog breed Shiba Inu. It feels like the Shiba Inu coin was willed into existence and is now insanely popular among crypto exchanges through the power of its many followers memes and a very cute dog.
2. Now that we know how it originated
let's take a look at what is Shiva Inu coin? Shiva Inu coin is a decentralized community building cryptocurrency, or we can say, an experiment developed within the Shiva Inu ecosystem and built on top of the Ethereum blockchain network. Like many other coins, it is a Meme coin launched as a rival of Doge coin, a Dodge killer. Both Dodge coin and Sheba coin were made in a humorous manner, but Shiba coin has already taken over some Doge coin markets and rising as a popular choice among investors, especially after market crashes of cryptos like Bitcoin and Ethereum.
3. So what is the difference between Shiva In new Coin and Doge coin?
Although Sheba Inu coin and Doge Coin are mean coins and share the same tree of origin, these two coins differ a lot from each other. The first difference is the Shiba coin is a token and Doge coin is a currency. Let's take a look at a few more major differences with regard to the development.
Sheba inner coins or Shib coins are built on and powered by the Ethereum network, whereas Doge coin was developed using the same technology as Bitcoin. Next is use cases. Shiba coin is still working upon price more due to its popularity than utility. On the other hand, Doge coin has established itself to some extent as a medium for online payments. Then there is the value. According to Coin market cap, the current value of Shiba coin is $0.0007,378, while the value of Doge coin is $0.261,711. Lastly is availability. Availability of shiba coin today is 394,000,000, and for Doge coin, it is 130,000,000,000.
4. So now this may raise the question why did shiba become so popular?
Shiba inu a coin is majorly popular for two reasons. Tesla founder Elon Musk recently tweeted that he would like to own a shiba pup that hyped the crypto market, and prices rose by 300%. Prices later fell about 40% after the founder of Ethereum blockchain network Vitalic Buterin donated 50 trillion shiba in a coins to the Indian government for the corporate relief fund of an Indian crypto entrepreneur, Sandeep Nyval. So now that we know about Shiba inu coin and its concepts,
5. Let's take a look at the future of Shiba inu coin.
Though shiba coin is only known as a meme coin, its increasing popularity and people's interest in participating in it is pointing toward a different but bright future. According to Investingcube.com, the sheep coin is predicted to rise again. Although there isn't much movement among its token and its value. Active buyers could help its value rise. The value could rise to 0.000 1040 in a more active buyer's market. Although it may not appear to be a significant amount due to its popularity in the future, it could have a significant influence over large investors of the crypto market.
So that ends our discussion about what shiba inu coin is. And that brings us to the end of this Post. If I've missed anything important, please do let me know in the comments section below. I hope you enjoyed the video and have a better understanding of what shiba inner coin is. If you liked the video, please do hit the like button. Thanks for carefully reading this post and stay tuned for more updates from Tech2the Point.
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