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Introduction to Shiba Inu (SHIB)

UTC by Oluwapelumi Adejumo · 6 min read
Introduction to Shiba Inu (SHIB)
Photo: Depositphotos

The guide deals with Shiba Inu – an experiment meme token that aims to compete, possibly outpacing DOGE, and for this reason, labeled as “the Dogecoin killer”.

One of the latest breakout meme tokens is Shiba Inu (SHIB). Shiba Inu is modeled of Dogecoin (DOGE) to capture the interests of the blockchain investment community. Subtly created to knock on Dogecoin, SHIB serves as its alternative and outpaces it quickly. This is why Shiba Inu’s team of developers labeled it as a “DOGE killer.”  And according to them, it is an experiment in decentralized spontaneous community building.

Shiba Inu as a Puppy Culture Protocol

Shiba Inu is a dog around a dog. However, breeding, raising, and training them becomes essential. Puppy Culture is enriched with everything needed to rear and relate with your dogs. The puppy culture sets a better standard for responsible breeds. It illustrates why good, responsible breeders should be celebrated, not castigated to produce healthy and happy dogs, to avoid myriads of dog-related problems, such as increased aggressiveness behavioral issues, affecting human to the animal relationship. Additionally, Puppy Culture helps furnish the bond between a dog and its owner right from the start.

Interestingly, the Puppy Culture protocol goes beyond physical training, as it is designed to work in the minds and psyche of dogs. However, understanding the basics of dog physiology and psychology goes a long way in dog training. The more you know, the more accessible training will be for both you and your Shiba. The protocol designed by a team of professionals in separate fields in dog breeding helps to assist dogs’ development of larger brains, more new brain cells and neural connections, better brain survival, improved ability to learn and remember, more emotional stability, better resiliency to stress.

Although Shibas may be the cutest dog breed ever, they are not the easiest dog breed to keep. Shiba Inus are probably one of the perfect examples of a dog breed that will significantly benefit from this type of training that involves vigorous socialization, handling, and manding techniques. Every Shiba Inu owner should aim to improve the lives of animals and limit any issues that could arise during adulthood. This will produce more confident dogs and get to bond with that aggressive pet on a new level.

History of Shiba Inu Protocol

Shiba Inu (SHIB) was founded in August 2020 as a decentralized cryptocurrency by an anonymous person known as “Ryoshi”. Shiba Inu is an ERC-20 token that runs on the Ethereum blockchain with Dogecoin features. Its goal is to compete, possibly outpacing DOGE, and for this reason, its team of developers branded Shiba Inu as “the Dogecoin killer”.

Since its creation, Shiba has reached milestones, such as gaining more traction and growing market cap. Much of these gains can be attributed to the record rate at which the token was listed in major exchanges. Those that missed out on the Dogecoin craze are eager to find the next big thing. Shiba Inu seems to have positioned their market entrance perfectly to capture this wave as the network has experienced some impressive growth since its inception. As of June 2021, Shiba’s market cap was over $13 billion.

Shiba Inu Ecosystem

Shiba Inu is an experiment in decentralized spontaneous community building. SHIB token is the first token. It allows users to hold Billions or even Trillions of it.  Shiba Inu is labeled as Dogecoin Killer. This ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin quickly. It has quickly gained popularity worldwide. The Shiba Inu token (SHIB) is the first cryptocurrency token to be incentivized on ShibaSwap, its homegrown decentralized exchange.

Half of the total supply was sent to Uniswap, the remaining 50% was burned to Ethereum. The first project follows this path, allowing the purchase of tokens on the open market, ensuring a fair and complete distribution where devs don’t own team tokens they can dump on the community.

Shiba Inu Artist Incubator

As the word implies, an incubator is a device that is used to keep eggs warm before they hatch. It won’t be challenging to understand the meaning if ‘Artist’ is added to it. However, it may be difficult to phantom what it stands for in the Shiba Inu ecosystem. It is another feature, non-fungible token (NFT), the new trend in crypto today, which deals with artists’ work. It paints artwork differently, promoting, attributing the artist, and offering a stream of income to the owner at the same time through the sales or auction of the paintings. Shiba Inu Artist Incubator is the proposed NFT project of the ecosystem. The platform is inviting artists interested in grooming them and giving necessary NFT support to their work, which will later be displayed, sold, or auctioned through Shiba Inu’s homegrown decentralized exchange, ShibaSwap.

Shiba Inu Tokens

Shiba Inu has unique tokenomics. It has three tokens, each serving a different function.

  • SHIB. This is the main utility token of the ecosystem. It has dual utilities. Usable for fee payment on any Ethereum transaction, it is earned as a reward for supporting the ecosystem with liquidity. It is a tradable cryptocurrency, even though listed only on major exchanges.
  • Leash and Bone as Dogecoin killers. While Shib’s main use is for fee and reward payment, the second token of the ecosystem is Leash. It is a scarce token that purposely offers a synth to hedge the price of Doge on the Ethereum blockchain. It is rebased and tied to the Dogecoin price. Finally, Bone is in Shiba Ecosystem’s plan to float. The token will find its utility in the Shiba homegrown decentralized exchange, Shibaswap DEX, for PoS to earn a reward.

Benefits of Shina Inu

Notable benefits of Shiba Inu (SHIB) are that it is traded and stoke, however, it is designed to help bring familiarity to the blockchain sector. Shiba is naturally adorable, and finding its qualities in a decentralized ecosystem is intriguing. With its proposed NFT project, Artist Incubator helps to groom artists and offer non-fungible support to display, sell or auction their work. Conclusively, it gives them passive income. Shiba Inu’s project seems all-inclusive with the pricing of its token.

Conclusion

From the long list of Shiba Inu’s whitepaper, it is evident that the project has a vision beneficial to its community members and for itself. Shiba’s roadmap promises lots of features to promote market movement. It is shallow in price, and that gives it a gain of traction. As a baby token, it is highly prone to any danger, and investors are better to invest while exploring the benefits of Shiba responsibly.

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FAQ

What is Shiba Inu?

It is the latest breakout meme token to capture the interests of the blockchain investment community. It is modeled like Dogecoin and ready to knock down Dogecoin subtly. It is referred to as a Dogecoin killer.

What Problems does Shiba Inu solve?

Shiba Inu stands to give more rewarding potential to its users. It helps solve spending out of pocket to buy crypto with its asset priced too low. They deliberately launched the project’s tokens price well below a penny. This gives the platform more users and a higher market cap.

Who founded Shiba Inu?

A team of anonymous developers founded Shiba Inu in August 2020.

What is unique about the Shiba Inu ecosystem?

Shiba Inu’s uniqueness is that first of all it is priced well below Dogecoin, making it famous, accessible, and affordable for all. It has three tokens, Shib, Bone, and Leash. Shiba Inu has a homegrown decentralized exchange available for the trading of Bone tokens. Finally, it intends to have an NFT.

What is the Shiba Inu Artist Incubator?

Shiba Inu Artist Incubator is the proposed NFT of the ecosystem. It will be launched for the World’s best artists to display their work for sale or auction.

Why does Shiba Inu have three tokens? What are they?

Shiba Inu has three tokens. This is so because the tokens serve different purposes. The main token of the platform is Shib. The Leash is the second token, and lastly, the Bone token.

How to buy Shiba Inu?

Shiba Inu is available in Australia, Canada, Singapore, the UK, and most of the World. Prospective users from the above countries can buy Shiba tokens through Binance, one of the world-leading exchanges.

Promo Code for cashback off all trading fees is EE59L0QP.

For USA residents, Gate.io is the most preferred for Shiba purchase.

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