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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.

Bonk

Dogecoin

Pepe

The investment management firm Vaneck has expanded into the meme coin sector with the launch of its new Marketvector meme coin index, “MEMECOIN.” This index, available through Marketvector Indexes—a company focused on digital assets and various other sectors—monitors the performance of the leading six meme coins.

Vaneck Introduces Meme Coin Tracking With ‘MEMECOIN' Index

Investment giant VanEck, known for its exchange-traded funds (ETFs), has taken a plunge into the world of meme coins with the launch of the MarketVector meme coin index called “MEMECOIN”. What Happened: This index tracks the performance of the six largest meme coins, a category of cryptocurrencies often inspired by internet jokes and cultural references.

Bitcoin ETF Issuer VanEck Launches 'MEMECOIN' Index, Includes DOGE, SHIB And 4 More Meme Coins

Ethereum

Everyone's favorite memes have taken the biggest hit today as the wider market sees a moderate drawback in comparison.

Meme Coins DOGE and SHIB See Losses as Ethereum Drops 4%

Shytoshi Kusama, the mysterious lead developer and co-founder of the Shiba Inu (CRYPTO: SHIB) project, dropped a cryptic message on social platform X, sparking a flurry of speculations within the community. What Happened: On Tuesday, the suspenseful figure released a gif with the word “EVITA," a Spanish equivalent of the female name Eva, which translates to "life" or "living one.

Shiba Inu Lead Shytoshi Kusama Shares Cryptic 'EVITA' Teaser: A Sign of Potential Investments In Argentina?

Shiba Inu (CRYPTO: SHIB) has experienced a surge in large transaction volume and new accounts following a network upgrade that has made Shibarium even faster. What Happened: Digital asset lender Nexo announced the listing of Shiba Inu on its platform, highlighting the coin's transition from a playful meme to a symbol of community empowerment.

Shiba Inu's Whale Transactions Spike 383% And New Account Creations Soar 15X On Nexo Listing Announcement

Crypto trader Intuitio expressed strong conviction in the potential of meme coins, touting the potential of Pepe (CRYPTO: PEPE) and Dogwifhat (CRYPTO: WIF), while dismissing the prospects of Shiba Inu (CRYPTO: SHIB). What Happened: Intuitio took to his X account to state how “easy” the meme coin space is.

Dogecoin Is The 'OG' Meme Coin And A 'Billboard' For PEPE And WIF, But: 'Forget SHIB,' Trader Exclaims

Cryptocurrency analysts of Coinidol.com report, the price of Shiba Inu (SHIB) is trending sideways due to traders' ambivalence towards the market direction.

Shiba Inu Continues Sideways Trend Due To Traders' Ambivalence

Shiba Inu (CRYPTO: SHIB), the meme cryptocurrency proclaimed as the ‘Dogecoin (CRYPTO: DOGE) Killer,' saw a drastic decline in its burn rate in the last 24 hours, slowing down the rate at which tokens are pushed out of circulation. What happened: In an X post on Tuesday, Shiba Inu's official burn tracker, Shibburn reported the burning of 12.47 million coins in the 24-hour timeframe, marking a drastic 84% drop.

'Dogecoin Killer' Shiba Inu's Burn Rate Dips 84% Amid Sluggish Shibarium Transactions

Dogecoin (DOGE) competitor Shiba Inu (SHIB) is announcing the completion of its highly anticipated Shibarium hard fork. In a new thread on the social media platform X, the team behind the dog-themed meme asset says they have officially completed the Shibarium hard fork, a move traders have been expecting since last year.

Dogecoin Rival Shiba Inu (SHIB) Completes Highly Anticipated Shibarium Hard Fork

Shiba Inu (CRYPTO: SHIB) has experienced a resurgence in its burn rates, with an 800% surge and millions of coins burned in recent transactions prompting positive market sentiment and an increase in prices. What Happened: Lucie, Shiba Inu's marketing lead, emphasized the importance of income generation to facilitate burns, highlighting Ryoshi's burning of keys to Shib's supply.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800% Amid New Margin Pair Listing On Kraken

Shiba Inu (CRYPTO: SHIB) is up 7.6% amid significant whale transactions and a the movement of around 1.75 trillion SHIB. What Happened:Shiba Inu's ecosystem is undergoing significant upgrades, with the recent Bor hard fork on Shibarium targeting critical bug fixes to enhance transaction processing and network performance.

'Dogecoin Killer' Shiba Inu Rallies 7.6%, As 1.75 Trillion SHIB Coins Moved From Robinhood Wallet

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have experienced a turbulent month, but traders remain optimistic about their future prospects. What Happened: Renowned chart analyst Ali Martinez has predicted a bullish breakout for Shiba Inu, highlighting the formation of a bull flag on its daily chart.

Are Dogecoin And Shiba Inu Due A Bounce? This Trader Sees 'Bull Flag' Forming For One Coin

Pseudonymous crypto trader "apatheticwhale" shared his thoughts on the success of Shiba Inu (CRYPTO: SHIB) and the importance of intellectual property (IP) in the meme coin space. What Happened: The trader highlighted how Shiba Inu's unique approach to creating its character, lore and mission differentiated it from other meme coins that simply repurposed existing memes.

How Did Shiba Inu Become The 'Dogecoin Killer?' Crypto Whale Thinks 'Its Mission' And This One Factor Were Key

Bitcoin

Pseudonymous cryptocurrency trader Kevin recently shared his thoughts on the upcoming Federal Open Market Committee (FOMC) meeting, predicting it could have a sizeable impact on the cryptocurrency market. What Happened: Kevin in his latest tweet emphasized the importance of the meeting, set to take place on Wednesday, as a catalyst for the next significant move in the market.

Bitcoin, Dogecoin, Shiba Inu Pumped After The Last FOMC Meeting—Will History Repeat On Wednesday?

The price of Shiba Inu (SHIB) is in a horizontal trend after the end of the uptrend on March 5, 2024.

Shiba Inu Continues Its Horizontal Trend And Holds Above $0.00002100

Pepe (CRYPTO: PEPE) is in a consolidation period, but traders remain optimistic given increasing retail demand and transaction volumes. What Happened: Revolut, the U.K.'s leading finance and crypto app, has seen a significant shift in its customers' cryptocurrency holdings, with Pepe now surpassing Ethereum (CRYPTO: ETH) in terms of total holdings.

Pepe's Retail Appetite Chases Shiba Inu, With 309% Increase In Revolut Customer Holdings: Trader Sees 'A Mini Bull Flag'

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) is trading 5.3% lower on the day despite a surge in new transactions and active accounts. What Happened: Lucie, marketing lead of Shiba Inu, announced that ShibaSwap, the DeFi platform integral to the Shiba Inu ecosystem, is expanding to operate on both the Shibarium and Ethereum networks.

Shiba Inu Down 5% Despite 144% Spike In Active Accounts, Community Builder Sees 'Powerful Economics'

ApeCoin

Polygon

Pseudonymous crypto trader "Cold Blooded Shiller" raises the question of whether the market is already beginning to phase out certain altcoins in favor of stronger performers and Bitcoin (CRYPTO: BTC). What Happened: Shiller points out that each crypto cycle sees coins that have a strong run but fail to make new all-time highs in subsequent cycles.

'Spectacular Meme Runs' Mean These Three Altcoins Could Be 'Doomed To Irrelevancy,' Muses Veteran Trader

The week was a rollercoaster ride in the world of cryptocurrency. From Shiba Inu's skyrocketing burn rate to the rising concerns about overvaluation in the crypto market, there was no shortage of action.

Shiba Inu's Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto Updates This Week

CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).

NEAR and SHIB Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have seen mixed monthly performance, but analysts remain optimistic about these tokens based on upcoming fundamental developments. What Happened: Shiba Inu announced its transformative upgrade for Shibarium, set to launch on May 2, aiming to enhance user experience and unlock next-level capabilities within the network.

Are Dogecoin And Shiba Inu Primed For The Next Leg Up?

A closely followed crypto strategist is turning very bullish on memecoins in the current market cycle. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that retail traders could send memecoins soaring. “Highly bullish on memes this cycle though for a lot of reasons.

Crypto Analyst Says He's Highly Bullish on Memecoins This Cycle – Here Are His Top Picks

Shiba Inu (CRYPTO: SHIB) takes a significant stride forward as Robinhood allows trading of the meme coin for New York residents. What Happened: Shibburn data indicates a 2,092.4% burn rate increase in the past 24 hours.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 2,092%, Robinhood Adds SHIB Trading For New York Residents

Pseudonymous crypto trader “apatheticwhale” quizzed his followers on the potential of meme coins, asking which would become the third meme coin to reach a market capitalization of $10 billion. What Happened: Apatheticwhale, a self-proclaimed “apathetic crypto whale with giga wealth,” pointed out that while many meme coins have surpassed the $1 billion market cap milestone, only two have crossed the $10 billion threshold: Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE).

Only Dogecoin And Shiba Inu Have Crossed The $10B Meme Coin Mark: 'Who Will Be The Third?,' Muses Crypto Whale

The number of Shiba Inu (CRYPTO: SHIB) tokens being burnt has significantly decreased over the past week amid a parallel surge in SHIB prices by nearly 15% in the last seven days. What Happened: Shibburn, a social media handle on X that tracks the number of SHIB tokens being burnt, reported a 39.90% decline in the number of tokens burnt over the past week.

News for Shiba Inu Crypto (SHIB)