Shiba Inu Coin Price & Market Data
Shiba Inu price today is $0.000037320152 with a 24-hour trading volume of $1,202,529,413. SHIB price is up 1.1% in the last 24 hours. It has a circulating supply of 550 Trillion SHIB coins and a total supply of 1 Quadrillion. If you are looking to buy or sell Shiba Inu, Binance is currently the most active exchange.
What is Shiba Inu token?
Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin's ethereum wallet. The price of SHIB has soared from as low as $0.000000000056 to an all time high of $0.000084, that is a 150,000 times increase within 8 months.
As a result of that, Vitalik proceeded to donate 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donation ever in the world.
What is the Shiba Inu community working on right now?
The Shiba Inu team launched a decentralized exchange called Shibaswap with 2 new tokens, LEASH and BONE. LEASH is a scarce supply token that is used to offer incentives on Shibaswap. BONE is the governance token for holders to vote on proposals on Doggy DAO.
Shiba Inu coin in 2021
Right now in 2021, Shiba Inu coin has captured mainstream attention as a meme coin. On Oct 28th, 2021, the cryptocurrency reached an all-time-high price of $0.000084. That was a +150,000,000% increase from when it was launched in August 2020.
Looking at the overall chart, Shiba Inu grew at a faster rate and have overtaken Dogecoin in terms of market cap. Both are running the narrative as the dominant global meme coin and a very volatile as there are no utility other than speculation and for transaction purposes.
The rapid rise of Shiba Inu coin price have gotten a lot of crypto analysts and experts concern about an incoming massive correction.