Dogecoin shook the crypto market at the beginning of yearning along with other dog coins like Shiba, Akita, etc. Shiba Inu is not only a meme coin but also has its own growing ecosystem different from Dogecoin.
What is Shiba Inu Cryptocurrency?
Shiba Inu was created in August 2020 by a pseudonymous developer named Ryoshi.
Although Shiba Inu is branded as the quote Dogecoin killer, Ryoshi explained in his first Medium post that the project is essentially an experiment in community governance and decentralization.
Ryoshi came up with the idea for Shiba Inu with an anonymous friend who he had met at the Ethereum DevCon conference in Japan, in 2019.
This anonymous friend is the one who created the Shiba token smart contract on Ethereum and also provided 10 ETH as liquidity for the ETH-SHIB trading pair on the Uniswap decentralized exchange.
According to Ryoshi, this anonymous friend is a quite successful businessman. So, 10 ETH is nothing for him.
After the initial hype deep down, Shiba Inu hibernated until February this year, when Ryoshi posted another article on Medium.Best Free Crypto Trading Bots — Top 16 Bitcoin Trading Bot Best crypto trading bots for Binance, Coinbase, Kucoin, and other crypto exchanges in 2021. Quadency, Bitsgap…medium.com
In it, he explained that Shiba Inu’s return is because quote with the resurgence of DOGE, SHIB has caught fire and is threatening to turn over the entire market.
The final sentence in the post also stuck out for me and it reads quote, I don’t like centralized exchanges. Oftentimes, they destroy community projects by price suppressions. I do not endorse any and only encourage you to use Uniswap and DEX.
Shiba Inu’s first news mentioned came in mid-March and it was about a 300% price pump caused by Elon Musk’s tweet that he would be getting a Shiba Inu dog. Read More...
Categories: CRYPTO PROJECTS
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