Altcoin Investing Picks: SHIBA INU
[Free] Analysis: What is Shiba INU?
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ALTCOIN INVESTING PICK: SHIBA INU
WHAT IS SHIBA INU
“Once upon a time, there was a very special dog. That dog was a shiba inu, and this dog inspired millions of people around the world to invest money into tokens with the dog’s image on it.
According to the SHIBA INU website, SHIB is the ‘DOGECOIN KILLER’ and will be listed on their own ShibaSwap, a decentralized exchange.
Shiba Inu coin was created anonymously in August 2020 under the pseudonym ‘Ryoshi.’ The meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin.” - source: coinmarketcap
“Shiba Inu was the answer to a simple question. What would happen if a cryptocurrency project was 100% run by its community? […]
Our founder, Ryoshi, said this of our beginnings, ‘We are an experiment in decentralized spontaneous community building(…)’.” - source: woofpaper v2
TEAM
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TOKENOMICS
“From its inception, Shiba Inu has done things differently. Starting with a supply of 1 quadrillion, our founder, Ryoshi, locked 50% in Uniswap, then “burned” the other half to Ethereum co-founder Vitalik Buterin for safekeeping.” - source: shiba-website
Shiba Inu token is their foundational currency that allows investors to hold millions, billions, or even trillions, of it in their wallets.
LEASH was originally set to be a rebase token, but then they [shiba inu team] removed the rebase and unleashed its full potential. With a total supply of ONLY 107,646 tokens, it represents the other end of our Ecosystem spectrum.
BONE has 250,000,000 tokens, and is designed to fit perfectly between the previous two tokens in regards to circulation supply. The token [BONE] is a Governance token which will allow the Shib Army to vote on upcoming proposals on their [shiba inu team] Doggy DAO.
Max Supply: 1 quadrillion (1,000,000,000,000,000)
Total Supply: 589,738,956,207,004 shib
*as of November 1, 2021:
All-Time High: $0.00008845 (Oct 28, 2021)
Circulating Supply: 549,095,509,738,353 SHIB
Market Cap: $38,721,296,388.91
Market Launch: August 1, 2020
TECHNOLOGY
Shiba Inu has an ethereum contract. Shib is a Decentralized Finance Meme token under the category “Meme Coin”.
WALLETS/EXCHANGES: WHERE TO BUY
OVERALL SCORE
*score is based upon transparency of the project, tokenomics, utility, and components of the website.
INVESTMENT STRATEGY SUGGESTION
Only invest what you are willing to lose.
Track your investments with our Altcoin Investing Journal or download our free excel sheet.
COMMENTARY [ADDITIONAL SEGMENT]
Shiba INU was created to compete with Dogecoin. With a community that loves the actual Shiba Inu dog, they started a revolution with Shiba INU Token. While real-use case for the utility of Shib is questionable, it has certainly gained a lot of traction and attention on media due to people like Elon Musk and Vitalik Buterin.
The token economics of Shib doesn’t make much sense. Nobody knows the real names of the founder of Shiba Inu or the community manager.
Will Shiba Inu still be a talking point in 5 - 10 years? In other words, are they sustainable for long term growth? Well, based on the information provided in this report, you can deduce an answer to that question for yourself.
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