When DOGE rallied in early May 2021, people started to look around for the next Dogecoin – and a lot of them settled on SHIB. It stayed close to that level for most of the first nine months of its existence. When SHIB first came onto the open market in August 2020, SHIB was worth around of $0.0000000001. However, knowing what the token has done in the past can help give us some very important context if we want to either interpret a shiba inu price prediction or else make one of our own. In terms of the SHIB price history, it is important to remember that past performance should never be taken as an indicator of future results. Shytoshi Kusama, a lead Shiba Inu developer, wrote in a blog post celebrating the one-year anniversary of Ryoshi’s last Medium post:įloki Frunkpuppy /xAr8T0Jfdf- Elon Musk October 4, 2021 Take the SHIBA and journey upwards frens.” One of Ryoshi’s last Medium posts, published on, read: “I am not important, and one day I will be gone without notice. Ryoshi has also deleted all tweets and replies on Twitter. Many users are drawn to blockchain payment networks such as Bitcoin, as they promote decentralisation and privacy.Īs of 23 February 2023, it has been over a year since Ryoshi’s last blog post on the online publishing platform Medium. Like Bitcoin’s ( BTC) alleged founder, Satoshi Nakamoto, Ryoshi has chosen to remain anonymous. Anonymity is not uncommon in the cryptocurrency sector. Shiba Inu has additionally set up a non-profit volunteer organisation called the Shiba Inu Rescue Association, which is dedicated to saving abandoned, neglected and abused Shiba Inu. Shiba Inu’s network also has a decentralised exchange ( DEX) called ShibaSwap and a non-fungible token ( NFT) incubator called the Shiba Incubator. The project has evolved from the SHIB decentralised meme token into an ecosystem that incorporates the LEASH and BONE tokens. Buterin also sent 40% of Shiba Inu’s total supply to a “dead wallet”, which is also referred to as burning, according to Shiba Inu’s website. In July 2021, Buterin donated 50 trillion SHIB coins, which represented 5% of its total supply, to India’s Covid-19 relief fund. Half of the total supply was locked in the Ethereum-based DEX Uniswap while the other half was sent to Ethereum’s co-founder, Vitalik Buterin, “for safekeeping”. You might see references to a shiba inu coin price prediction, or have people ask "what is the future of shiba inu coin", but they are wrong.Īccording to its website, Shiba Inu initially had a supply of one quadrillion tokens. Shiba Inu is built on the Ethereum ( ETH ) network, which means that it is a token, rather than a coin. Coins themed around the Japanese Shiba Inu dog breed gained popularity in 2021 as the market blossomed and DOGE turned from a joke into a serious player. The memecoin is a play on the Dogecoin (DOGE) meme, which is itself a parody on cryptocurrency in general.
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