Please welcome SHIB to our ZebPay community, also known as the “Doge Killer”. The anonymous creator, “Ryoshi”, of the Shiba Inu Coin nicknamed it so as it sustains under a penny and continues to outpace Dogecoin by a fair amount. You can now purchase $SHIB on our platform!
The Shiba Inu coin is an ERC-20 alt coin created on the Ethereum network. The developers created an ecosystem of three coins consisting of SHIB, BONE and LEASH. SHIB is the main foundational currency that investors can hold in its wallet. It was the first token listed on the ecosystem. LEASH is the rebase token that basically works to adjust the circulating supply automatically according to the changes in token price. BONE is a governance token that the #ShibArmy used to vote on community decisions.
They even launched a decentralized exchange called ShibaSwap. The platform is built on the Ethereum network to ensure complete transparency. Investors will need to connect to a digital wallet to view liquidity. Liquidity providers can enjoy returns on trades according to the share of the pool. It also enables the user to “dig” (provide liquidity), “bury” (stake coins), “fetch” (retrieve tokens from Uniswap or SushiSwap) and swap coins. They must be some real dog lovers!
There are currently 400 trillion tokens out in the market circulating with a maximum supply of one quadrillion tokens. Ryoshi sent Vitalik Buterin, creator of Ethereum, half the supply of SHIB worth $7 billion. The token became public after this move, as the creator called Buterin a “friend of SHIB.”
Buterin however decided to burn 90% of the tokens and donate 10% to charity. The donation of ₹9000 crores was sent to an Indian COVID-19 relief fund set up by Polygon founder Sandeep Nailwal.
The coin is currently trading at $0.00002964 or ₹754.76 with a 24 hour upside of 3.60% at the time of writing.
SHIB coin jumped 340% up in the last 7 days, while other major cryptocurrencies remained red and on the plunge. This tweet explains it all! Elon brings home a little Shiba Inu puppy.