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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.

‘Dogecoin Killer' Shiba Inu's (CRYPTO: SHIB) recent price drop did not stop traders from remaining optimistic about the meme coin. Positive community developments cushion the meme coin's price.

'Dogecoin Killer' Shiba Inu Drops 12% In 7 Days, But 'It's Not Done Yet,' Says Trader

Dogecoin

Pepe

Meme coins are on the receiving end of a large-scale altcoin sell-off on Tuesday morning, suffering double-digit losses across the board. Cryptocurrency Price Gains +/- Dogecoin (CRYPTO: DOGE) $0.1198 -10.7% Shiba Inu (CRYPTO: SHIB) $0.00001775 -11.1% Pepe (CRYPTO: PEPE) $0.00001043 -10.1% Dogwifhat (CRYPTO: WIF) $2.02 -15.8% Floki (CRYPTO: FLOKI) $0.0001625 -13% Dogecoin saw $60 million worth of positions liquidated, as prices dropped more than 10%, while Shiba Inu's larger transactions spiked.

Dogecoin, Shiba Inu, Pepe Crash Over 10%: 'There Are No Blue Chips' Among Memes, Warns Trader

The cryptocurrency market had a rough start to the week, with popular large-cap currencies registering marked declines. What Happened: Memecoins Dogecoin and Shiba Inu, and payment-focused coin XRP traded in the red on Monday, as indicated below.

Dogecoin, Shiba Inu, XRP Flagged By Analytics Firm As Buying Opportunities Amid 2024 Sentiment Low

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) saw its burn rate and new accounts spike, as the community revealed positive news. What Happened: Shibburn data shows the burn rate skyrocketing 84,642.4% in the past 24 hours.

Is Shiba Inu Getting Ready For A Pump? Burn Rate Surges 84,642%

Pseudonymous trader ‘Trading Vapor‘ suggested meme coins are poised to benefit the most from the upcoming alt season. What Happened: Trading Vapor shared his observation that sentiment towards both altcoins and meme coins is bad but thinks this is misplaced.

Dogecoin, Shiba Inu, Floki Are 'Dino Coins,' Says Trader: He Likes These 3 Other Meme Coins As 'Blue Chips'

The price of Shiba Inu (SHIB) has fallen below the moving average lines but is holding above the $0.00002000 level.

Shiba Inu Risks A Fall And Fights Over $0.00002000

One of Shiba Inu's lead marketers is revealing the details of a highly anticipated SHIB blockchain game. A Shiba Inu insider who goes by Lucie tells her 139,300 followers on the social media platform X that the full release of the blockchain version of Shiba Eternity is nigh.

SHIB Marketing Lead Hints at Unreleased Token, Shares Update on Upcoming Shiba Eternity Blockchain Game

Ethereum

Chainlink

While the cryptocurrency market edged lower Thursday, several of the most popular coins showed a strong bullish indication. What Happened: Ethereum, Shiba Inu, and Chainlink endured significant losses during the day, as indicated below.

Shiba Inu, Ethereum, Chainlink Flash This 'Long-Term Bullish Signal' Despite Recent Drop

The broader market rally failed to galvanize Shiba Inu (CRYPTO: SHIB), as the popular dog-themed memecoin plunged sharply after morning gains. What Happened: SHIB, also known as Dogecoin (CRYPTO: DOGE) Killer, dropped nearly 2% in the last 24 hours, even as the rest of the market, including memecoins, recorded significant gains.

'Dogecoin Killer' Shiba Inu Trades In The Red Despite Broader Market Surge — Here Is What These Key Indicators Tell Us About Its Near-Term Future

Shiba Inu (CRYPTO: SHIB) has spiked on a positive CPI data print alongside a significant surge in its burn rate. What Happened: The burn rate spiked 16,856% in the past 24 hours, with one single transaction burning 225.6 million coins.

'Dogecoin Killer' Shiba Inu Spikes 6%, As Burn Rate Explodes By 16,856%

The meme coin economy is thriving on Wednesday, ahead of the U.S. Federal Reserve meeting, as the sector saw nearly $4 billion injected over the last 12 hours. Several meme tokens experienced substantial gains, with BENJI rising 36.9%, MAGA increasing 23.2%, and the runes-based DOG gaining 22.1%. Crypto Market Rises 3.

Meme Coin Economy Gains $4 Billion Capital Injection Ahead of Fed Meeting

If Bitcoin (CRYPTO: BTC) spot ETFs can gobble upwards of $15 billion in inflows, and Ethereum (CRYPTO: ETH) spot ETFs are set to open for trading soon, why should Shiba Inu (CRYPTO: SHIB) stay behind? What

Shiba Inu Spot ETF Petition Crosses 10K Signatures: Wishful Thinking Or Inevitable Reality?

Meme coins remain a major force in the cryptocurrency market and drive major trading volume, according to a new research report. What Happened: The Coinmetrics report highlights that meme coins, including popular tokens like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), have garnered substantial attention, achieving $13 billion in trading volumes over a seven-day period in March.

Dogecoin, Shiba Inu Continue To Drive High Trading Volume, Report Finds

The recent performance of meme coins has sparked a debate among crypto experts about whether they can maintain their popularity and achieve long-term growth without significant innovation. What Happened: Meme coins have not performed as well as during the first quarter of the year.

Why Are Dogecoin, Shiba Inu And Other Meme Coins Struggling?

Meme coins have taken a beating following the market-wide downturn led by Bitcoin selling off below the $67,000 mark. What Happened: CoinGecko data shows a 7.5% drop in the market capitalization of meme coins over the past 24 hours.

Dogecoin, Shiba Inu, Pepe Take A Beating: '1 Day' Is A Meme Coin's Average Life Cycle, Trader Notes

Floki Inu (CRYPTO: FLOKI) announced the launch of its new name service enhancing utility and fundamentals of the ecosystem, prompting renewed bullish price predictions from analysts. What Happened: Floki announced that its "Floki Name Service" is now available exclusively on BNB Chain mainnet.

Floki Inu Launches 'Name Service' Adding Higher Utility, Leaves Dogecoin, Shiba Inu In Dust With 47% Monthly Gains

Shiba Inu's (CRYPTO: SHIB) burn rate shot up exponentially in the last 24 hours amid a sharp increase in the transactions on the layer-1 blockchain, Shibarium. What Happened: Around 7.7 million SHIB tokens were kicked out of circulation, according to data from Shibburn, marking an astounding 13458.99% jump.

'Dogecoin Killer' Shiba Inu's Burn Rate Explodes 13458% As Shibarium Transactions Spike, 7.7M SHIB Kicked Out Of Circulation

Shiba Inu (CRYPTO: SHIB) is currently witnessing elevated burn rates alongside a bullish technical momentum. What Happened: In the past 24 hours, Shiba Inu's burn rate surged 15,654.2%, with a single transaction involving 1.03 million coins burned around two hours ago.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 15,600% Bu Does Technical Analysis Confirm A Bullish Bias?

Shiba Inu (SHIB) prices have been moving in a range since April 13, 2024 when the price dropped.

Shiba Inu Continues Its Range And Stops Its Slide Above $0.00002200

Cardano

A handful of crypto assets have been witnessing “exploding” whale activity amid an uptick in digital asset prices this week, according to the analytics firm Santiment.

Cardano, Shiba Inu and One Ethereum-Based Altcoin Witness ‘Exploding' Whale Activity, Says Santiment

Pepe (CRYPTO: PEPE) and Shiba Inu (CRYPTO: SHIB) are seeing strong interest from whales, which prompted traders to remain optimistic about their future price trajectories. What Happened: On-chain data analytics platform The Data Nerd noted one whale withdrawing 199 billion PEPE ($2.9 million) and 37 billion SHIB ($964,000) within the past 12 hours.

Whale Has 82% Of Portfolio In PEPE and SHIB, Moves $3M Off Exchange: Is '$10-$12B Market Cap' Next?

Institutional investors on crypto exchange Bybit increased meme coin allocations to a high of $300 million in April from $63 million at the start of this year.

Meme Coin Institutional Holdings Surged Since January, Led by DOGE, SHIB, PEPE

Shytoshi Kusama, the mysterious lead developer of Shiba Inu (CRYPTO: SHIB), hinted at massive plans for the ecosystem while responding to Ethereum (CRYPTO: ETH) creator Vitalik Buterin's skepticism of projects lacking long-term ambitions. What Happened: Buterin took to social platform X to express displeasure with the mushrooming of celebrity memecoins lately.

Shiba Inu's Shytoshi Kusama Indicates 'Massive Plans' For The Crypto Project In Response to Ethereum Creator Vitalik Buterin

Whale investors, known to move cryptocurrency markets with their moves, are showing significant interest in coins like Shiba Inu, Cardano, and the latest sensation, JasmyCoin. What Happened: Large transactions, worth at least $100,000, for each of these cryptocurrencies have more than doubled this week compared to the 2024 averages, according to on-chain analytics firm Santiment.

Whale Accumulation Drives Shiba Inu, Cardano, JasmyCoin Upwards: Do They Know Something We Don't?

A deep-pocketed entity who made $120 million on Shiba Inu (SHIB) is suddenly accumulating the memecoin again, according to on-chain data. The blockchain tracking firm Lookonchain reports that “a SHIB super big winner” just spent 4,849 Ethereum (ETH), worth $18.44 million at the time, to buy 715.9 billion SHIB.

News for Shiba Inu Crypto (SHIB)