Non Tradeable on PrimeXBT
Shiba Inu SHIB price for today is US Dollars. It has market capitalization of and a trading volume of over the last 24h. Current circulating supply of Million coins.
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Follow this real-time Shiba Inu price chart to speculate on the price movements of the SHIB/USD pair. With this convenient live chart, you can view the current SHIB/USD price, analyze the price dynamics, trace historical SHIB to USD exchange rates, build your trading strategy, and trade Shiba Inu with leverage on PrimeXBT.
Shiba Inu (SHIB) is a decentralized Cryptocurrency that launched in August 2020. It was created as an experiment in community-driven projects, aiming to rival Dogecoin, the original meme coin.
Unlike traditional financial systems, Shiba Inu operates without a central authority, relying on a decentralized network of users.
The project quickly gained popularity due to its meme-inspired branding, featuring the Shiba Inu dog breed, which has become synonymous with the token itself.
SHIB's ecosystem consists of several tokens, including SHIB, LEASH, and BONE. Each of these tokens serves a specific function within the ecosystem:
SHIB is the primary token, used for transactions and exchanges.
LEASH was initially designed as a rebase token but later transformed into a store of value with a limited supply.
BONE acts as a governance token, allowing holders to vote on changes in the project through the Shiba Inu's decentralized autonomous organization (DAO), known as Doggy DAO.
Shiba Inu operates on the Ethereum blockchain, making it an ERC-20 token. This means that SHIB is compatible with the Ethereum ecosystem. It can operate with decentralized exchanges, decentralized finance (DeFi) platforms, and other Ethereum-based projects.
Because Shiba Inu is an Ethereum-based token, it also benefits from Ethereum's security measures and infrastructure.
A key component of the ecosystem is ShibaSwap is a decentralized exchange (DEX), where users can trade SHIB, LEASH, and BONE tokens. ShibaSwap allows users to participate in liquidity pools, stake tokens, and earn rewards.
The platform is designed to offer a decentralized alternative to traditional exchanges, giving users more control over their assets and the ability to earn passive income through various DeFi mechanisms.
Shiba Inu was created by an anonymous individual or group known as Ryoshi. The identity of Ryoshi remains unknown, similar to Bitcoin's creator, Satoshi Nakamoto.
Ryoshi's vision was to create a decentralized project fully controlled by its community, where single entities could not have authority over its direction.
Ever since, various developers and enthusiasts have contributed to the project, with Shytoshi Kusama emerging as a key figure in the project's development and communication.
While the identity of Ryoshi remains a mystery, the Shiba Inu team has grown greatly. The team includes several developers and community members who work on different aspects of the project. This decentralized team collaborates on everything from technical development to marketing and community engagement.
The team is responsible for maintaining and expanding the ecosystem, including the development of ShibaSwap, Shibarium, and other future projects.
Shiba Inu (SHIB) has multiple use cases within its ecosystem. Primarily, it serves as a medium of exchange and a store of value, similar to other Cryptocurrencies.
SHIB can be used for trading, staking, and governance within it's ecosystem. Additionally, SHIB has been acknowledged as a payment method by various merchants. This has expanded its utility beyond trading.
In the decentralized finance (DeFi) space, SHIB is used for liquidity provision, staking, and yield farming on platforms like ShibaSwap. As more DeFi platforms integrate SHIB, its utility continues to grow.
Additionally, some online merchants have begun accepting SHIB as a form of payment, further legitimizing its use as a currency.
Shiba Inu token was launched in August 2020, quickly capturing the attention of the Crypto community due to its meme-inspired origins and the growing popularity of DOGE. The initial hype around SHIB was driven by social media and community engagement. Early adopters drove its value up rapidly. During this period, SHIB price experienced significant volatility as traders speculated on its potential.
In May 2021, Ethereum co-founder Vitalik Buterin donated 50 trillion SHIB tokens to the India Covid-Crypto Relief Fund. At the time, this donation was worth almost $1 billion, making headlines across the Crypto world. The donation led to a sudden increase in supply and a temporary drop in the price of SHIB token, but it also brought significant attention to the project and strengthened its presence in the Crypto space.
Shiba Inu reached its highest price of $0.00007489 on October 30, 2021. This surge in price was a combination of social media hype, increased adoption, and listings on major Crypto exchanges. The all-time high marked a significant milestone for SHIBHowever, the price also faced corrections as the initial hype decreased.
The launch of Shibarium, a Layer-2 blockchain solution for the Shiba Inu ecosystem, was another critical milestone. Shibarium, launched in 2023, aimed to reduce transaction fees and increase the scalability of SHIB transactions. This development contributed to renewed interest in SHIB, although its price action remained low compared to the 2021 peak.
The Shiba Inu coin price is heavily influenced by market sentiment and social media trends. The Shiba Inu community is known for its active presence on platforms like Twitter, Reddit, and Discord, where discussions about the token can drive significant price movements.
Positive news, celebrity endorsements, or mentions from influencers can lead to rapid price increases, while negative news or market corrections can result in sharp declines.
The adoption of Shiba Inu as a payment method and its integration into DeFi platforms also play a role in its price action. As more merchants accept SHIB and more DeFi platforms integrate it, the demand for the token increases, potentially driving up its price.
Developments within the Shiba Inu ecosystem, such as the launch of Shibarium or new features on ShibaSwap, can create positive momentum for SHIB.
The price of Shiba Inu is often driven by traders looking to earn on its volatility. High trading volume can lead to significant price swings, especially in a market as liquid as SHIB's.
The token's large circulating supply means that substantial market activity is required to move its price, making it a popular choice for both short-term traders and long-term investors.
Finally, Shiba Inu's price is influenced by broader trends in the Cryptocurrency market. When the overall market is bullish, SHIB often benefits from increased investor's interest and higher prices. And vice-versa, during bear markets, SHIB's price may decline along with the rest of the market.
Factors such as regulatory news, macroeconomic conditions, and developments in the Ethereum blockchain can also impact SHIB's price.
Shiba Inu offers traders the opportunity to participate in a highly liquid market with potential for significant price volatility. This volatility can present both risks and opportunities for traders looking to earn on short-term price movements.
Additionally, the strong and active Shiba Inu community provides a supportive environment for those interested in the project’s long-term potential.
Shiba Inu has become one of the trader's favourites, and is often driven by bullish sentiment within the Crypto community. The possibility of SHIB reaching new highs continues to attract traders. The token's large community and active development also contribute to its appeal as a trading asset.
The Shiba Inu ecosystem, including ShibaSwap, Shibarium, and other developments, offers traders and investors a range of opportunities to engage with the project. As the ecosystem grows, so does the potential for SHIB to increase in value. The project's commitment to decentralization and community governance also adds to its long-term appeal.
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The trading conditions on our platforms are updated daily to reflect the average from the previous day. Although we try to always provide the best possible conditions, these may vary and can be affected by underlying market events. The info we provide is for indicative purposes only and can be changed at any time.
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