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Shiba Inu price
$0.000015
Shiba Inu price
About Shiba Inu (SHIB)
Shiba Inu is an Ethereum-based memecoin. Shiba Inu (SHIB) is an Ethereum-based memecoin inspired by Dogecoin, launched in 2020 by an anonymous developer known as Ryoshi.
What is Shiba Inu (SHIB)
A Deep Dive on Shiba Inu
Shiba Inu has evolved from its memecoin-inspired origins into a multi-faceted ecosystem that spans NFTs, DeFi, gaming, and Layer 2 development. Like a Swiss Army knife of crypto utilities, the Shiba ecosystem offers users various tools and functionalities while maintaining its community-driven ethos.
Overview and Purpose
At its core, Shiba Inu aims to create a truly decentralized ecosystem where community members have direct input into the project's direction. The ecosystem serves as an alternative to traditional centralized systems, empowering users through a comprehensive suite of decentralized finance (DeFi) products and services. From DeFi staking to gaming and NFTs, Shiba Inu has expanded beyond its initial scope to become a full-featured blockchain platform.
Network Architecture
The Shiba Inu ecosystem operates primarily through Shibarium, its Layer 2 blockchain solution built on top of Ethereum. Launched on August 16, 2023, Shibarium processes blocks every 5 seconds and requires validators to stake BONE tokens to participate in network consensus. This architecture provides faster and more cost-effective transactions while maintaining Ethereum's security benefits.
Shiba Inu Token Fundamentals
The ecosystem operates on a multi-token model, with each token serving specific purposes:
- SHIB: The primary token that can be staked for xSHIB to earn rewards in BONE, SHIB, and ETH
- BONE: The governance token enabling holders to propose and vote on ecosystem decisions
- LEASH: A loyalty token offering special rewards when staked for xLEASH
The ecosystem incorporates deflationary tokenomics, with a portion of SHIB tokens being burned during Shibarium transactions.
Supply Characteristics
SHIB launched with a maximum supply of 1 quadrillion tokens (1,000,000,000,000,000), initially distributed equally between Uniswap liquidity pools (50%) and Vitalik Buterin (50%, which was subsequently burned). The initial token price was set at $0.000000000056. BONE, the secondary token, has a maximum supply of 250,000,000 tokens.
Project Development
Shiba Inu's journey began on July 31, 2020, under the guidance of two anonymous founders: Ryoshi and Shytoshi Kusama. Ryoshi, the original creator, mysteriously disappeared in May 2022 after deleting their tweet history. Shytoshi Kusama has since taken the lead as the primary developer, particularly focusing on the Shibarium Layer-2 blockchain development.
The project's governance is managed through the Doggy DAO, which is controlled by tBONE (staked BONE) holders. Unlike many crypto projects, Shiba Inu didn't receive venture capital funding, maintaining its grassroots, community-driven nature.
Relevant Links
Official Resources:
- Website: https://shibatoken.com
- X / Twitter: https://twitter.com/Shibtoken
- Reddit: https://www.reddit.com/r/SHIBArmy
- Discord: https://discord.com/invite/shibatoken
- GitHub: https://github.com/shibaswaparmy
- Whitepaper: https://shib.io/documents/SHIBPAPER-ABRIDGED-V.1.pdf
- Block Explorer: https://www.shibariumscan.io
- DAO Interface: https://shibaswap.com/#/proposal
Token Contracts:
- SHIB: 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce
- BONE: 0x9813037ee2218799597d83d4a5b6f3b6778218d9
- Staking Contract (BONE): 0xC76F4c819D820369Fb2d7C1531aB3Bb18e6fE8d8
Shiba Inu (SHIB) Price Today
Shiba Inu price today is $0.000015.
100,016,154,003 SHIB was purchased today on Kraken worth $1,510,244. Check out the SHIB chart above for more real time price data. Want to get updates on the latest crypto prices on-the-go? Sign up today to receive SHIB price alerts. Kraken lets you buy and sell 381 cryptocurrencies, including SHIB. There are some geographic restrictions which may affect the assets that are available in your verified country of residence. View all crypto prices.
Shiba Inu (SHIB) Price History
Shiba Inu price is -48.52% over the last year. The highest price of SHIB in the last year was $0.000033 and the lowest price of Shiba Inu in the last year was $0.000012.
24h
+12.45%
7d
+19.90%
1m
+2.57%
1y
-48.52%
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Categories
Kraken classes Shiba Inu to be within the following categories: Meme, Ethereum Ecosystem, Dog Meme.
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Shiba Inu FAQ
Can I trade Shiba Inu at a lower price?
Yes, you can choose what price you pay for Shiba Inu using Custom Orders on Kraken. If the price of Shiba Inu reaches to your desired price, the order will execute automatically.
Is now a good time to buy Shiba Inu?
Timing the market can be tough, but dollar cost averaging can help. By setting up recurring buys, you can constantly accumulate Shiba Inu over time and not worry about whether or not now is the best time to buy.
What is the daily trading volume of Shiba Inu?
100,016,154,003 SHIB worth $1,510,244 was traded on Kraken in the last 24 hours.
What affects the Shiba Inu price?
A variety of factors affect the price of Shiba Inu including market sentiment, technical developments, user adoption and macro economic events.
How do I read the Shiba Inu price chart?
To read the Shiba Inu price chart, it can be useful to start by understanding the X-axis (which represents time) and the Y-axis (which represents the price). A line chart connects a crypto asset's closing prices with straight lines to clearly display its performance over time.
How can I analyze prices with the Shiba Inu chart?
Analyzing price movement using the SHIB chart can involve identifying areas of support and resistance, or using technical analysis which is the study of past price movements to forecast future trends. However, it's important to remember that no method can predict prices with 100% accuracy due to the market's volatility.
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