![]() News that the Shibarium layer 2 scaling solution, a platform which would, in effect, take Shiba Inu transactions off Ethereum, carry them out, and put them back on Ethereum, would be released at an unspecified date in late February or early March boosted not only BONE, Shibarium's native token, but also SHIB itself and, on 23 February 2023, SHIB was worth about $0.0000134. It reached a high of $0.00001562 on 4 February, its highest price since August but then slipped to a low of $0.00001189 on 9 February. On the other hand, the crypto market has shown some signs of recovery in 2023 so far. Starting the year at $0.00003342, it struggled through a series of market crashes and it closed the year at $0.000008087, representing a loss of more than 75% over the course of 2022. However, 2022 was a bad year for crypto across the board, with a series of market crashes impacting most coins and tokens and SHIB was not immune. SHIB gained momentum after Musk tweeted a photo of his Shiba Inu puppy in a Tesla on 4 October 2021, and on news of a potential listing on the crypto exchange Robinhood. However, by autumn, the token spiked to an all-time high of $0.00008845 on 28 October 2021. But this sudden boom was followed by a fall.SHIB struggled, along with much of the rest of the market, across the summer of 2021. On 17 June 2021, Coinbase’s surprise listing of SHIB on its exchange led to the coin price rising from $0.00000728 to $0.000009331 in just over an hour – an increase of 28%. However, the crypto market took a big hit on, and Shiba Inu was affected along with the rest. While Musk’s appearance on the American TV institution hit DOGE’s price, SHIB continued to expand – reaching an all-time high of $0.0000388 on. This meant on 8 May, the day Elon Musk appeared on Saturday Night Live, the price exploded, going from $0.000005246 to $0.00001883 – a rise of roughly 260%. When DOGE rallied in early May 2021, people started to look around for the next Dogecoin – and a lot of them settled on SHIB. It stayed close to that level for most of the first nine months of its existence. When SHIB first came onto the open market in August 2020, SHIB was worth around of $0.0000000001. However, knowing what the token has done in the past can help give us some very important context if we want to either interpret a shiba inu price prediction or else make one of our own. In terms of the SHIB price history, it is important to remember that past performance should never be taken as an indicator of future results. Shytoshi Kusama, a lead Shiba Inu developer, wrote in a blog post celebrating the one-year anniversary of Ryoshi’s last Medium post:įloki Frunkpuppy /xAr8T0Jfdf- Elon Musk October 4, 2021 Take the SHIBA and journey upwards frens.” One of Ryoshi’s last Medium posts, published on, read: “I am not important, and one day I will be gone without notice. Ryoshi has also deleted all tweets and replies on Twitter. Many users are drawn to blockchain payment networks such as Bitcoin, as they promote decentralisation and privacy.Īs of 23 February 2023, it has been over a year since Ryoshi’s last blog post on the online publishing platform Medium. Like Bitcoin’s ( BTC) alleged founder, Satoshi Nakamoto, Ryoshi has chosen to remain anonymous. Anonymity is not uncommon in the cryptocurrency sector. Shiba Inu has additionally set up a non-profit volunteer organisation called the Shiba Inu Rescue Association, which is dedicated to saving abandoned, neglected and abused Shiba Inu. ![]() Shiba Inu’s network also has a decentralised exchange ( DEX) called ShibaSwap and a non-fungible token ( NFT) incubator called the Shiba Incubator. The project has evolved from the SHIB decentralised meme token into an ecosystem that incorporates the LEASH and BONE tokens. Buterin also sent 40% of Shiba Inu’s total supply to a “dead wallet”, which is also referred to as burning, according to Shiba Inu’s website. ![]() In July 2021, Buterin donated 50 trillion SHIB coins, which represented 5% of its total supply, to India’s Covid-19 relief fund. Half of the total supply was locked in the Ethereum-based DEX Uniswap while the other half was sent to Ethereum’s co-founder, Vitalik Buterin, “for safekeeping”. You might see references to a shiba inu coin price prediction, or have people ask "what is the future of shiba inu coin", but they are wrong.Īccording to its website, Shiba Inu initially had a supply of one quadrillion tokens. Shiba Inu is built on the Ethereum ( ETH ) network, which means that it is a token, rather than a coin. Coins themed around the Japanese Shiba Inu dog breed gained popularity in 2021 as the market blossomed and DOGE turned from a joke into a serious player. The memecoin is a play on the Dogecoin (DOGE) meme, which is itself a parody on cryptocurrency in general.
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