Description
The SHIBA INU website describes several tokens. These include BONE, which has a limited supply of 250 million and LEASH, which has a fixed supply of 107,646 tokens. Both BONE and LEASH are used for voting rights in the Shiba Inu DAO. Other tokens listed on the website include DIG for BONES, Shiba Swap, and BURYING.
Uniswap
The Uniswap shib coin is a decentralized cryptocurrency exchange. Its creators sent half of its supply to Vitalik Buterin's wallet and used the other half to create liquidity on Uniswap. After the exchange launched, SHIB tokens began to circulate in the market. Moreover, Uniswap's decentralized exchange allows users to convert their cryptocurrency to Ethereum tokens. These tokens are accepted by Ethereum wallets and can be converted into USD.
The Uniswap shiba inu token is the second largest cryptocurrency in the world. The total supply is one quadrillion SHIB tokens, with 15 zeros separating each unit. Uniswap's SHIB/ETH liquidity pool holds 50% of the total supply. Traders deposit pairs of assets into the liquidity pool, which acts as an automated market maker system.
Robinhood
The new crypto exchange that has caught the attention of cryptocurrency investors is Robinhood. This app has announced support for a number of different digital assets including Dogecoin and Polygon, but has not made an official announcement about the addition of these coins. The company has, however, announced that it is planning to add support for Bitcoin Lightning Network in the near future. So, if you're interested in trading crypto, you should check out Robinhood today.
The Shiba Inu token, or SHIB, has recently been added to Robinhood. Although the exchange has not officially announced the addition, the coin is showing up on its website. The addition of Shiba Inu comes as a surprise given that Robinhood has only listed a few other cryptocurrencies for years. However, the Shiba Inu (SHIB) token has now been listed alongside Solana (SOL), Polygon (MATIC), and Compound (COMP).
Etherscan
There's a possibility the infamous memecoin hack is a hoax. But the recent emergence of SHIB in the cryptocurrency ecosystem has given rise to an alternative view of the hack's origins. Using on-chain data provided by Etherscan, it's possible to place this mysterious trader at the genesis of the memecoin. It's not clear who possessed the SHIB coins, but significant purchases suggest the person of interest may have been a great believer in the currency. In this regard, the emergence of SHIB as a top-10 coin has made its genesis a mystery.
The Shiba Inu community has taken action to curb the massive meme coin's supply. According to data obtained from Etherscan, the community has been burning tokens for months. To date, they've managed to permanently burn out over 19 million SHIB. Moreover, at least ten transactions have been conducted by the community, reducing the total supply. Despite the lackluster market performance, the community continues to burn tokens in order to keep SHIB's price low.
Buterin
If you've been following the SHIB price, you've likely noticed that Vitalik Buterin is a big supporter of the coin. In fact, he even refers to Ryoshi as a "visionary" in a section dedicated to his support for SHIB. However, he mis-spelled Ethereum as Etherium, and categorizes donations as one of his biggest strengths. Unfortunately, since those donations, SHIB has lost almost eighty percent of its value.
Buterin introduced the first recipients of the Balvi charitable organization. This included the RaDVaC project, an open-source COVID-19 vaccine R&D entity. It received $2.5 million for research and development. Another recipient was Active Buildings, which received $500,000 to monitor air quality. Finally, the Patient-Led Research Collaborative received $3 million to study COVID-19 symptoms. The next round will be announced in the near future.
Tokenomics
The Shiba Inu token was released in 2020 with high hopes as a dogecoin killer. It has outperformed Dogecoin by 49 million percent. The token's two utilities are its transaction fee and liquidity reward. The Shiba Inu coin is a tradable cryptocurrency that is currently listed on the major exchanges. It has received a lot of attention in recent months, and the coin's tokenomics are worth a closer look.
The Tokenomics of Shib coin are fairly complex and closely related to the decentralised nature of the project. Its design was inspired by Dogecoin, a cryptocurrency that started as a joke and took the famous meme as its logo. The Dogecoin coin gained a substantial following in its short life, but Shiba Inu intends to build a completely decentralized cryptocurrency. Therefore, there are many factors that go into the tokenomics.
Price
The price of Shiba Inu is moving towards a breakout. A breakout above $0.00000870 could open gates to the 50% Fibonacci level at $0.00002000. This scenario looks highly probable. But a breakout above $0.00000870 is not the only option. The price is currently trading near its 50 EMA and 23.6% Fibonacci level. The price has a long way to go. The next couple of candles will determine the direction of the SHIB/USD pair.
In 2028, experts predict that more people will start to use cryptocurrencies. A halving of bitcoin will also create more demand for meme-coins. This will push the price of SHIB up. This could trigger another bullish rally in the crypto market after 4 years. Experts predict that the SHIB coin will trade between $0.00013750 and $0.00016285.