What is SHIB Coin? What to know about the ‘Dogecoin Killer’ cryptocurr

Dogecoin began out as a joke and now the authentic joke coin has impressed a joke coin of its personal–which is simply too meta. The newest joke cryptocurrency coin is referred to as SHIB coin and it’s billing itself as a “DOGE Killer,” which, let’s be trustworthy, is extra about search engine optimization returns than any legitimate means to produce assured funding returns. Right here’s what you want to know about SHIB coin:

  • Its actual identify is ‘Shiba Inu coin.’ However everybody calls it SHIB coin for brief. The identify is taken from the canine breed that is the mascot for Dogecoin.
  • How a lot is SHIB value? At the time of this writing, one SHIB is value about $0.00003359. In different phrases, SHIB is actually worth less than a drop of piss.
  • What number of SHIB cash exist? According to CoinGecko, 1 quadrillion. Sure, one QUADrillion. To place that in perspective, there can solely ever be 21 million bitcoins in existence. In different phrases, SHIB isn’t scarce.
  • Why does SHIB coin exist? As a result of Dogecoin exists and other people noticed its 5,000% rise this 12 months and suppose every other joke coin can produce the identical outcomes and lengthy as you could find folks hoping it will probably to put their cash into it.
  • What do SHIB coin’s creators say about the coin? About what you’d expect: “Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can stay nicely below a penny and nonetheless outpace Dogecoin in a small period of time (comparatively talking). Common worldwide, and already up hundreds of %, Shiba token ($Shib) is the first cryptocurrency token to be listed and incentivized on ShibaSwap, our decentralized change.”
  • The place can I purchase SHIB Coin? Proper now SHIB Coin may be purchased on cryptocurrency exchanges together with Binance, Huobi, OKEx, and Uniswap.
  • Ought to I purchase SHIB coin? That’s up to you. In the event you take pleasure in excessive likelihoods that you simply’ll lose your funding, then any joke coin created to experience the speculative coattails of different joke cash is in all probability a terrific buy. However if you’re investing with the goal to strive to see an precise return to aid you, you know, retire sooner or later, dumping your life financial savings (or perhaps a thousand bucks) right into a joke coin isn’t the method to go.
  • What has Elon Musk mentioned about SHIB coin? Nothing but, thank god.