Shiba Inu (SHIB) Crypto: 7 Things to Know About Red-Hot SHIB

The crypto world is a truly crazy one these days. Indeed, a range of cryptocurrencies are rising out of the ether (no pun intended). These cryptos are arising to meet burgeoning investor demand for these digital tokens. Among these, Shiba Inu (CCC:SHIB-USD) and the SHIB crypto is one of the new kids on the block that investors are talking about right now.

A smiling Shiba Inu dog in front of a bright yellow background.

Source: Shutterstock

Dubbed the “Dogecoin killer,” Shiba Inu is the new dog-inspired crypto option investors are now looking at. The cryptocurrency hails itself as one of the “decentralized meme tokens that grew into a vibrant ecosystem.” Indeed, it appears investors are heavily piling into this crypto. Today, SHIB prices up more than 80%.

Recent announcements have further spurred interest in SHIB. The first announcement is that Binance will be listing SHIB futures contracts. Additionally, Binance announced it will be listing SHIB in the Binance Innovation Zone. These moves have resulted in a flurry of interest in SHIB on social media today.

Here’s more on what investors may want to know about Shiba Inu right now.

What Investors Need to Know About the SHIB Crypto

  • SHIB hails itself as an “experiment in decentralized spontaneous community building.” Indeed, this cryptocurrency is looking to cash in on the success Dogecoin (CCC:DOGE-USD) has had in this domain.
  • The SHIB cryptocurrency token is the first token released by the company’s founder, Ryoshi.
  • Other crypto options coming include BONE, which is set to take “the power of Defi to the next level.”
  • SHIB is currently available on Uniswap, a popular decentralized exchange. Its founders are also testing their own ShibaSwap exchange, and hoping for a launch soon.
  • According to Shiba Inu’s website, 50% of the total supply was locked in Uniswap.
  • Additionally, “the remaining 50% was burned to Vitalik Buterin, and we were the first project following this path.”
  • The goal of these moves was to provide fair and complete distribution, where developers can’t dump tokens on the community in the future.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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