Shiba Inu Coin is one of the newest digital coins out there with an even shorter historical record than Dogecoin. In the case of these cryptocurrencies, the original goals were purely fun and competition. That’s because both Dogecoin and Shiba Coin both started as jokes. In a sense, they were both meme coins, with Shiba Coin having been created in 2020 as a response to Dogecoin. Get ready to discover our list of the Top 10 shocking Shiba Coin Facts you didn’t know.
With its initial launch in August of 2002, Shiba Coin very closely resembles Dogecoin, much like a puppy would closely resemble its mother dog. In fact, even the way that the Shiba platform operates is similar to Dogecoin. Though while it was part-jokingly launched as a “Dogecoin Killer,” Shiba Inu Coin has experienced respectably rapid growth. One of its most distinguishing attributes is that aside from being less pricey than its competition, it is also community-driven.
Let’s learn more about this “joke” of a cryptocurrency and how it rose to be a prominent player in the crypto market.
shocking Shiba Coin Facts
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1. Shiba Inu Coin Started As A Joking Reaction To Dogecoin
At its initial launch, Shiba Coin was based on memes in a musing attempt to rival Dogecoin, the start of which it is closely related to. Shiba Inu very closely resembles its inspiration but does vary in some ways. Nevertheless, Shiba Inu is a legitimate cryptocurrency form that operates under the tongue-in-cheek monicker of a “Dogecoin Killer.”
2. The Mysterious Founders And Owners Of Shiba Coin
The Shiba Coin was founded in August 2020 by Ryoshi, but the founder’s actual identity is as mysterious as it is humorous. For one thing, Ryoshi’s identity is unknown. In the descriptive contributions of their creation, the anonymous Ryoshi did not that his “Doge Killer” cryptocurrency is a unique entity in its own right, but different from many traditional cryptocurrencies due to its community-operated nature.
3. Shiba Is Inexpensive And Affordable For Purchase
The first months for Shiba Inu Coin were quite rough, as the cryptocurrency entered the market and struggled to get off the ground. But as Dogecoin developed, so did Shibu. The biggest appeal of Shiba Coin was its very nominal price, reaching, at its highest peak $0.00001663 as its purchase price, giving nearly anyone the ability to buy it.
If you spent $5 on Shiba coins, you could purchase a whole lot of them, and as an initial investment, that is financially smart. Should the value increase, these otherwise cheap purchases can grow the original $5 investment into quite a bit more. Some compare Shiba Coin to the purchase of a $2 or $6 lottery ticket, but they are a significantly more sensible investment because they have the appeal for being held as long as desired without the fear of major financial losses, while the growth potential could result in a healthy profit to the investor.
4. Shiba Coin Is Different From Other Cryptocurrencies
The Shiba Inu token is not the same as other cryptocurrency types, so much like Dogecoin, Shiba Inu operates on a blockchain, though it was designed on an existing blockchain form. The Shiba Inu coins are denoted as SHIB tokens, which distinguishes them from their competitors in the crypto sphere.
When they first launched the Shiba Inu coins were valued at a mere $0.00000001, with an especially rapid minting process. Before long, nearly a quadrillion Shiba Inu tokens were minted. Today, the Shiba Inu coin quantity has grown more and continues to do so. Despite its original intent as a meme coin, it is possible to physically own this cryptocurrency. Shiba Inu coins can be purchased on PancakeSwap. They can even be used for purchasing products on sites like Etsy (Open an Etsy shop and list your first 40 items free). You can even get the SHIBA INU as a gold-plated “Doge Killer” crypto coin online at quite an affordable price point.
5. Social Media And Particularly Powerful Influencers Helped Shiba Inu Coin Popularity
The Shiba Inu coin growth has been a surprise for most, being driven by those who spread the word about it and supported it along the way. Even Tesla owner Elon Musk tweeted about Shiba Coins. With all the promotions, enough attention was acquired by Shiba Inu to start rising in price. This price point ascension was not just local to the United States either. The value grew globally.
It was even helped out by the Chinese billionaire venture capitalist Charles Xu Biqun who posted about Shiba Inu Coin on Weibo, a platform with more than 12 million followers. The attention drawn was able to get Shiba Inu a leg up in the market and move some investors to it and away from Dogecoin.
6. Where Did The Shiba Inu Dog Come From In The Shiba Coin History?
One of the popular concepts in the Shiba Inu cryptocurrency is the Shiba Dog. It actually isn’t that much different than the Dogecoin dog, but it does go a bit further. The Shibu Inu dog was part of the cryptocurrency image because when Ryoshi started minting the Shiba Inu coins, he included a likeness of his Shiba Inu dog, a Japanese breed that is also known as related to Dogecoin. As a mascot, the dog is quite popular, and being as it is represented in both Dogecoin and Shiba Inu coins, it makes for an additional element of friendly competition between the two crypto coins.
7. Shiba Inu Is Supported By Celebs Like Elon Musk And Others
Elon Musk is arguably the most well-known Shiba Inu supported, but he is also a fan of Dogecoin, so his loyalty seems to be split. Musk has expressed interest in tweets before about owning a Shiba pup, which sent the interest from the Shiba Inu coin through the rough, making it jump in the crypto market by a whopping 300%. With celebrity support, many in the public feel emboldened to invest in it as well.
Many middle-class Americans, for instance, are receiving good returns from the Shiba Inu coin. A $100 invested in the Shiba coin now can result in some seriously impressive returns in a few years as Shiba’s popularity continues to rise.
8. Shiba Inu Coins Have Attracted Attention From Rappers And Hip Hop Artists
The hip-hop industry has, by and large, been drawn to cryptocurrency in general, intertwining rap and hip-hop artists with various crypto options. Rapper Meek Mill, for instance, was drawn to the Shiba coin and even publicized a plan to invest in it. Other prominent rap artists have also jumped on the crypto train, with names as big as the legendary Snoop Dogg and wildly popular Soulja Boy exhibiting active enthusiasm for Shiba Coin during the crypto asset purchase discussions on Twitter. Snoop even recently celebrated 4.20 with a video based on funny crypto.
Even one of rap’s biggest names, Eminem has been known to dabble in crypto, putting forth his love for both Dogecoin and Shiba, and even announcing a non-fungible token (NFT) collection called Shady Con.
9. Shiba Inu Coin Is Intended To Be Easily Purchased By The Masses
One of Shiba Inu’s main selling points is that it is very easily affordable, which is the case due to a variety of factors. It is the cheapest to invest in, and therefore the most appealing to investors across the economic spectrum. Launched at a value of under $0.00000001 with a limited coin supply, the volume of coins was still an impressive number totaling roughly a quadrillion crypto tokens in circulation.
The Shiba Inu coin user community is also not as large as some of the other cryptocurrency variations. There are currently about 360,000 users, meaning that the price point of the coin remains inexpensive, which in turn, attracts even more investors to the platform. Shiba coin urges investors to buy and sell their cryptocurrency from reliable platforms, and one of their prime recommendations is the secure Uniswap platform.
10. Shiba Inu Coin Is All About An All-Inclusive Community
When Ryoshi, the founder of the Shiba Inu coin looked to create his crypto coin variant, he did it with the goal in mind of being different than other existing ones, specifically by being more about the community. The objective was for Shiba Inu coin to be a cryptocurrency project with no exclusive owner and to do away with the importance of corporate structure. Even more notably, Shiba Inu has no CEO at its helm that makes decisions that will affect the cryptocurrency’s future.
Final Notes About The Shiba Coin Facts
As noted, Shiba Inu is different from other cryptocurrencies. While Bitcoin is the earliest pioneer of the crypto sphere and therefore the most well-known, it can be argued that Shiba Inu is the most investor-welcoming variant.
At this point, the Shiba Inu coin is an experiment in progress, but it does show a lot of potential in building a crypto platform in a decentralized community. While it may be random and spontaneous in most situations, its central premise of being a community currency has yet to waiver.
Overall, digital currencies are not quick routes to becoming rich, and it is certainly not the case with Shiba Inu. They are long-term investments that are subject to manipulations and fluctuations in the market. The very real beneficial effect of the Shiba Inu coins is that they are pushing their way past many other cryptocurrencies on the market as they gain popularity.
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Frequently asked questions:
Where Can Shiba Inu Coins Be Purchased?
Shiba Inu coins can be purchased on a variety of platforms including Binance, the world’s largest crypto exchange since its founding in 2017. It supports the trade and sale of more than 500 cryptocurrencies, Shiba Inu included, that can be purchased with other forms of cryptocurrency, as well as fiat currency that includes debit, credit, or SEPA and bank transfers.
How Does The Future Look For Shiba Inu?
Most experts agree that the Shiba Inu coin is experiencing growth continuously. Combined with the ease of investment due to its low price point, Shiba Inu continues to be a worthwhile investment at its current rising rate. In the long run, this will make for a worthwhile investment.
Will Shiba Inu Coin Ever Reach $1?
By design, the cost of a single Shiba Inu coin cannot reach $1. This is especially the case because of its high volume in circulation. The only way to potentially raise its price that significantly is to lower the supply, but the problem is that even that may not work. For the market value to be under $1 trillion, about 99% of the token supply of Shiba Inu coin in the world would need to go away.
Is Shiba Inu Coin Worth Investing In?
Without a doubt, the team at Shiba Inu has proven itself to be one of the best in crypto. Just consider that this is a meme coin that only hit the market in the back half of 2020 and is already one of the largest market capitalizations out there, not to mention that it is among the best-performing cryptocurrencies supporting gains that are close to a stunning 50,000,000% figure.
How Much Will Shiba Inu Coin Be Worth In A Decade?
Based on a cumulative evaluation of multiple expert analysts and technical forecasts, by December 2031 the Shiba Inu coin is likely to be worth between $0.0002 and $0.009. According to the CryptocurrencyPricPrediction website, by December of 2030, the Shiba Inu value will reach$0.0032843.
Will Shiba Inu Reach 1 Cent by 2025?
The price of Shiba Inu will not reach 1 cent by 2025. The forecast from Coin Price Forecast predicts that it will be worth between $0.00004183 and $0.00005048 by 2025, with the expected trading cost of the coin (SHIB) to be $0.00004335. However, experts do foresee that Shiba Inu will likely break its all-time high by 2025, with the overall value increasing by 271%.
What Is A Realistic Target Goal That Can Be Reached By Shiba?
WalletInvetor predicts that by early August 2023 Shiba will drop to $0.00001053. Gov Capital predicts that it will close out 2022 at about $0.000037.
What Will Be The Worth Of Shiba Inu Coin In 5 Years?
Over the long-term, the value Shiba Inu coin is expected to increase with the price being forecasted to be $0.000121 by the end of 2027, which is the rough equivalent of an 860.32% price increase after 5 years.