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Shiba Inu

Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." According to its whitepaper, Shiba Inu was created with the intention of creating a "100% community-led" cryptocurrency. Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-based mining algorithm. Shiba Inu is widely considered to be a "memecoin" due to its high volatility and network effect, driven by influential commentators like Tesla CEO Elon Musk.

The cryptocurrency Shiba Inu was created in August 2020 by an anonymous person known as "Ryoshi."

Shiba Inu aims to be a 100% community-led, decentralized cryptocurrency which seeks complete independence from centralized authorities and takes pride in that it was not founded from an existing community. 

SHIB exists on the Ethereum blockchain because Ryoshi viewed it as a well-established, secure, and decentralized network that would allow the Shiba Inu project to be developed with zero outside regulation. 

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Scrypt-based mining algorithm. 

When SHIB was created, 1 quadrillion tokens were minted. SHIB’s founder sent 50% of the total supply to Ethereum co-founder Vitalik Buterin, who then burned 90% of his holdings by sending the tokens to a dead blockchain address. Buterin said he’d donate the remaining 10% to charity. 

The remaining supply, which wasn’t sent to Buterin, is locked in Uniswap, which is a decentralized finance protocol used to exchange cryptocurrencies. 

The Shiba Inu community considers the crypto to be a "Dogecoin Killer" because it has the ability to top its memecoin rival's market cap without ever crossing the $0.01 mark. 

Shiba Inu is widely considered to be a memecoin due to its high volatility and potential risk, as well as its network effect, driven by influential commentators like Tesla CEO Elon Musk.

Shiba Inu (CRYPTO: SHIB) lead developer Shytoshi Kusama welcomed the addition of the popular memecoin as a collateral currency for backing futures positions on the cryptocurrency exchange Kraken. What happened: Kraken Pro, the exchange's interface for professional traders, stated Thursday that users would be able to use SHIB as collateral to place futures trades.

Shiba Inu Lead Developer Shytoshi Kusama Reacts As Kraken Adds Memecoin As New Collateral — Burn Rate Fires 139103%

Dogecoin

Pepe

Popcat, the cryptocurrency market's biggest gainer this year, plunged steeply Thursday, even as the broader memecoin market remained flat. What happened: The cat-themed cryptocurrency tumbled more than 8% in the last 24 hours, marking a sharp reversal from the previous day's rally.

Cat-themed Popcat Tumbles Over 8% — Dogecoin, Shiba Inu, Pepe Little Changed

Shiba Inu (CRYPTO: SHIB) is up 14% over the past week following notable community developments and optimistic trader outlooks. What Happened: Marketing lead Lucie posted a community update on Saturday, announcing that Shiba Inu is planning to strengthen its position in decentralized governance with the launch of a decentralized autonomous organization.

'Dogecoin Killer' Shiba Inu Surges 14% Past Week, Prepares DAO Launch To Empower Holders With Voting Rights

International Dog Day, observed across the world on Aug. 26, is a special day to celebrate the presence of canines in our lives and cherish their companionship. The cryptocurrency space also has a special affinity with these cute critters, thanks to the numerous popular dog-themed memecoins that have emerged in recent years.

From Shiba To Dogecoin, Here Are The Best-Performing Canine Memecoins Of 2024 Fetching Great Returns On International Dog Day

﻿The price of Shiba Inu (SHIB) has recovered but is currently trading between the moving average lines. The cryptocurrency is recovering from its low of $0.00001079.

Shiba Inu Stops At $0.00001552 And Continues Its Range

dogwifhat

Dogwifhat's (CRYPTO: WIF) largest holder, already more than $68 million in profit, is accumulating the meme coin as traders predict a breakout. What Happened: Lookonchain data shows an anonymous investor, Dogwifhat's largest holder, actively increasing his WIF holdings.

The Largest Holder Of Shiba Inu's Rival Dogwifhat Is Up $68M On Their WIF But Just Started Accumulating More

Shiba Inu (CRYPTO: SHIB) is seeing a fresh increase in burn rates as the community celebrates notable developments. What Happened: Shiba Inu's burn rate surged by 1,197.5%, with a single transaction burning 24.8 million coins around 14 hours ago, according to Shibburn data.

Shiba Inu's Burn Rate Rockets 1,198% Higher As 28M SHIB Are Incinerated: 'Current Swing Has One More Upside To Come,' Touts Trader

Popular dog-themed cryptocurrency Shiba Inu (CRYPTO: SHIB) witnessed an astronomical burn rate jump as the ecosystem's Layer-2 network, Shibarium, marked its first anniversary. What Happened: Shibarium went live on mainnet in August last year, marking a watershed point for the ecosystem in establishing Shiba Inu as a full-fledged decentralized system.

Shiba Inu's Burn Rate Explodes 1088% As Layer-2 Network Shibarium Completes One Year Since Launch

Floki and dogwifhat defied the broader market dip to fare among the cryptocurrency market's biggest gainers Tuesday. What Happened: Solana (CRYPTO: SOL)-based WIF emerged as the best-performing $1 billion capitalization memecoin in the last 24 hours.

Floki, Dogwifhat Shake Off Broader Market Pullback, Outperform Dogecoin, Shiba Inu In 24-Hour Gains

Shiba Inu (CRYPTO: SHIB) lead developer, Shytoshi Kusama, has emphasized the crucial role of the Bone ShibaSwap (CRYPTO: BONE) token in the project's future. What Happened: On Tuesday, Kusama responded to an X user's accusation of poor advertising for the BONE token.

Shytoshi Kusama Says This Token Vital To Shiba Inu's Future: 'Completely Integrated Into Our Governance And Technology'

After a five-day dry spell, Shiba Inu‘s (CRYPTO: SHIB) burn rate is spiking alongside improving key metrics. What Happened: The burn rate has increased by over 1,000% in the past 24 hours, burning 98,136 in the process, according to Shibburn data.

'Dogecoin Killer' Shiba Inu Fires Up The Burn Rate To 1,089%: What Is Going On?

Shytoshi Kusama, the mysterious lead developer associated with Shiba Inu (CRYPTO: SHIB), finally addressed the long-awaited question on the minds of most of the memecoin project supporters—will they reveal their face? What Happened: The pseudonymous lead was asked about the burning question during an interview with Arabian Business.

Shiba Inu Lead Developer Shytoshi Kusama Opens Up On Revealing True Identity — Here's What Was Said

Despite lackluster trading performance in the recent weeks, Shiba Inu (CRYPTO: SHIB) could be on the brink of a significant rally, if technical analysis is to be believed. What Happened: Crypto trader Javon Marks thinks Shiba Inu's prices are nearing the converging or breakout point of a massive bullish falling wedge pattern on the daily chart.

Will 'Dogecoin Killer' Shiba Inu Surge 500% Soon? Technical Analysis Says It Could, But The US Government Plays A Crucial Role

The week was buzzing with cryptocurrency news, from the Winklevoss twins' critique of Vice President Kamala Harris‘ absence at a crypto roundtable to the stagnating burn rate of Shiba Inu's tokens. The crypto world also saw some political influences, with Anthony Scaramucci advocating for a bipartisan commitment to crypto regulation and Mark Cuban securing an assurance from Chuck Schumer (D-NY) on sensible crypto law.

Winklevoss Twins Criticize Kamala Harris, Shiba Inu's Stagnating Burn Rate, And More: This Week In Crypto

The price of Shiba Inu (SHIB) continues to hover above the current support of $0.00001271.

Shiba Inu Reaches The Oversold Region And The Low Of $0.00001079

Shiba Inu's (CRYPTO: SHIB) stagnating burn rate and mediocre technical indicators have traders wondering about whether any near-term upside is realistic. What Happened: The burn rate has dropped by 45% since the last burn transaction of 802,246 coins around two days ago, according to Shibburn data.

'Dogecoin Killer' Shiba Inu Has Not Burned Tokens In 2 Days: What Is Going On?

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are looking to grind back upwards amid a mix of positive and negative factors. What Happened: Crypto trader Kevin noted that Dogecoin is trading in a falling channel on the weekly chart.

What's Going On With Dogecoin And Shiba Inu This Week?

Memecoins were back in the green Thursday as the broader market recoiled after Monday's plunge. What Happened: Frog-themed token Pepe led the rally among large-cap memecoins.

Pepe Leads Rally, Dogecoin, Shiba Inu Advance As Memecoins Flash Green Amid Market Rebound

Shiba Inu‘s (CRYPTO: SHIB) consistently rising burn rates triggered optimistic sentiment for the meme coin's future performance. What Happened: Shibburn data shows the burn rate surging by 9,947.6% in the past 24 hours, with two transactions burning more than 106.06 million SHIB.

'Dogecoin Killer' Shiba Inu Burn Rate Almost Hits 10,000% As Over 100M SHIB Go Up In Flames

The price of Shiba Inu (SHIB) has fallen, reaching a low of $0.00001084. Price analysis by Coinidol.com.

Shiba Inu Recovers And Continues Its Rise Above $0.00001084

Shiba Inu's (CRYPTO: SHIB) meandering performance despite rising burns rates did little to discourage traders' optimism about the future. What Happened: Shibburn data shows the burn rate surging by 234% in the past 24 hours, with one transaction burning 1.06 million SHIB.

What's Going On With 'Dogecoin Killer' Shiba Inu?

Cat-themed meme coin, cat in a dogs world (CRYPTO: MEW) emerged as the market's best-performing cryptocurrency Tuesday even as the heavyweights remained restrained. What Happened: The Solana (CRYPTO: SOL)-based currency popped 20% in the last 24 hours, helping investors recoup significant losses incurred over the weekend.

Cats In A Dogs World Beats Memecoin Puppies Dogecoin, Shiba Inu To Top 24-Hour Gainer's Chart — What's Going On?

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) is seeing burn rates increase, with price rebounding from the Monday crypto crash. What Happened: Shibburn data shows the burn rate spiking by 477.9% in the past 24 hours, burning 4.27 million SHIB coins.

'Dogecoin Killer' Shiba Inu Recovers By 10% From Monday Crypto Crash As Burn Rate Surges By 478%

Crypto trader CryptoKaleo discussed whether the “memecoin supercycle” is still in play after the latest crypto market crash. What Happened: The trader wrote in a Monday post on X that he believes the wealth gap will widen as the dollar weakens, leading to an influx of money into hedges like equities, Bitcoin (CRYPTO: BTC) and other major blockchains.

Will Dogecoin, Shiba Inu, Pepe Continue The 'Memecoin Supercycle' Despite The Crypto Crash? 'Just The Tip Of The Iceberg,' Trader Thinks

Shytoshi Kusama, the mysterious lead developer associated with the Shiba Inu (CRYPTO: SHIB) project, gave a nod to the popular analyst's view of not selling one's cryptocurrencies despite the ongoing crash in prices. Noted crypto influencer, Oscar Ramos, has thrown his weight behind analysts' views on the recent crypto market crash.

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