What is the virtual currency SHIBA INU (SHIB / Shiba Inu coin)? Explain future prospects, forecasts and future prospects!

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This time, I will explain about SHIBA INU (SHIB), which is the meme currency of Dogecoin (DOGE).

SHIBA INU (SHIB), which is characterized by the Shiba Inu mark, became a hot topic in May 2021 when the price rose by 300% at a stretch.

In addition, the price soared on October 5, 2021, and is now attracting attention as it has risen by about 250% compared to September 2021.

It is also well known that the remarks of Tesla CEO Elon Musk, as well as rival DogeCoin, affect prices.

This time, I would like to explain in detail about such SHIBA INU, such as features, price trends, and future outlook.

If you are thinking of investing in SHIBA INU, please refer to this article.

What is the virtual currency Shiba Inu (SHIB)?

Currency (token) name SHIBA INU (SHIB)
Symbol SHIB
Market ranking (as of October 2021) 31st
Handling exchanges Not available at domestic exchanges
Official site https://shibatoken.com/
Value as of October 6
SHIBA INU (SHIB) is a virtual currency released in August 2020.

Since it was created as a currency to compete with Doge coins, it has similar characteristics such as motifs.

After being released in 2020, it was listed on large exchanges such as Binance, Huobi, and OKEx, and the price soared, and at one point it was 1000 times higher in a few months. ..

Since SHIBA INU (SHIB) is built on the Ethereum blockchain with ERC-20, it has a high affinity with Ethereum and is expected to develop NFT projects and DEX.

Features of SHIBA INU (SHIB)

SHIBA INU (SHIB) was born as a meme currency of Dogecoin and is actively implementing various projects.

Here, we will explain the features of SHIBA INU (SHIB) in detail.

Dogecoin meme currency
SHIBA INU (SHIB) is the meme currency of Dogecoin.

“Meme” means an idea or culture that is duplicated or derived from person to person, and is often used to mean “material”.

Meme currency is used to mean “material currency” in virtual currency.

There are various things such as making fun of the characteristics of cryptocurrencies and presenting problems, but there is an affinity between “memes” that represent subcultural elements and virtual currencies that were born from raising problems to society. Can be said to be high.

Dogecoin is a meme coin that was inspired by the Shiba Inu, but SHIBA INU (SHIB) is a self-proclaimed “Dogecoin killer”, a coin that is paired with Dogecoin and was developed as a virtual currency.

Created anonymously under the name Ryoshi
The developer of SHIBA INU (SHIB) is an anonymous person who also created LEASH etc., and is commonly known as Ryoshi.

On May 29, 2021, Ryoshi published a blog post titled “I AMRYOSHI” on Ryoshi Research, stating:

“As I said from the beginning, I’m neither anyone nor an important person. Even if I succeed, my efforts to reveal my” identity “will not be interesting. I’m Ryoshi, an alternative person who has no effect on tapping the keyboard. ”

There are 3 tokens, SHIB, LEASH and BONE

There are three tokens in SHIBA INU (SHIB): SHIB, LEASH, and BONE.

The main virtual currency is SHIB, which can be paid on the Ethereum exchange and used on major exchanges.

You can also get BONE as a reward by depositing it in DEX.

LEASH was announced as a rebase token for hedging the price of Dogecoin on the blockchain, but it will not be used as a rebase token after issuance.

In addition, LEASH is considered to be more valuable as it is issued less than SHIB.

BONE is a governance token, and depending on the number of possessions, the right to vote on the direction and problems of the project is given.

In addition, according to the SHIBA INU (SHIB) management, BONE will be used for some future projects.

There is a DEX (Distributed Exchange) called Shibaswap

SHIBA INU (SHIB) released a DEX (Distributed Exchange) called Shibaswap on July 6, 2009.

Shibaswap’s decentralized trading platform is built on the Binance smart chain mainnet network.

Shibaswap handles virtual currencies related to SHIBA INU (SHIB) such as SHIB, LEASH, and BONE.

Users can use cryptocurrency exchange (SWAP) and reward acquisition (Staking) by depositing cryptocurrencies.

Please note that the exchange of virtual currencies applies to the virtual currencies planned by ERC20.

Launched Shiba NFT

SHIBA INU (SHIB) has launched an NFT called Shiba NFT.

NFT is an abbreviation for non-fungible token.

Its uniqueness is guaranteed by the data called “digital signature” issued on the blockchain, so it is attracting attention as an irreplaceable digital asset.

ShibaNFT can purchase ShibaNFT, which is a character of Shiba Inu, with SHIB tokens and grow it freely. The grown Shiba Inu can also be bought and sold on the open market.

There is an artist community called Shiba Incubator
SHIBA INU (SHIB) has an artist community platform called Shiba Incubator.

This platform invites various artists who are interested in SHIB, and SHIBA INU (SHIB) will support the NFT conversion of Shiba Inu’s works related to SHIBA INU (SHIB) created by the artists.

This platform is being developed to disseminate SHIBA INU (SHIB) information to the world.

As NFT art, SHIBA INU art will be exhibited, sold and traded at ShibaSwap.

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Donation using SHIBA INU (SHIB) by Vitalik Buterin
Ryoshi, the founder of SHIBA INU (SHIB), locked 50% on a cryptocurrency exchange called Uniswap shortly after issuing SHIBA INU (SHIB).

And the remaining 50% was burned to Vitalik Buterin, the founder of Ethereum.

In other words, we have transferred 50% ownership of SHIBA INU (SHIB) to Buterin.

In response, Buterin donated 10% to the relief of COVID-19 in India, and the remaining 40% was used as a “Dead Wallet” to ensure stability. I keep it.

Current price trends of SHIBA INU (SHIB)
On September 17, the price of SHIBA INU (SHIB) surged.

One of the reasons is that Coinbase relisted SHIB of SHIBA INU (SHIB) on Coinbase.

SHIBA INU (SHIB) was listed on Coinbase once in June, but the listing was temporarily suspended due to technical problems.

However, the problem was resolved and it was decided to go public again.

The re-listing to Coinbase was announced on September 9, and the listing was resumed on September 17.

With the resumption of listing, “SHIBA INU (SHIB) transactions were carried out and demand increased, and the demand of people who thought that the market would become active due to the increase in transaction volume, the price rose at a stretch. It is believed.

Price transition of SHIBA INU (SHIB) so far


Then, what kind of movement was SHIBA INU (SHIB) before October?

Source: Chart provided by Branding View
When it was first released in 2020, the price was around $ 0.000003, which had been around for a while.

However, since May 2021, it has become popular with cryptocurrency fans by being listed on large-scale exchanges such as Binance and OKEx, and it has skyrocketed.

The price on May 11 was at its peak, and the price has risen by about 1000% in two days compared to just before the listing of OKEX.

After that, there was a range of price fluctuations for a while due to an event such as listing on Coinbase in June, but the price remained sluggish for a while due to the suspension of listing of Coinbase due to technical problems. ..

In this way, the price of SHIBA INU (SHIB) is listed on the exchange, and it becomes more important as more people can buy SHIBA INU (SHIB), and the price tends to rise. It can be said that there is.

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Future outlook and forecast of SHIBA INU


What kind of price movement will SHIBA INU (SHIB) have in the future? The following factors are expected to affect the future price of SHIBA INU (SHIB).

Influential factors for future prices of SHIBA INU (SHIB)
* Remarks about Mr. Elon Musk’s “Shiba Inu”
* Listing on the exchange
* Flipning effect

Price rises due to Tesla CEO Elon Musk’s remarks


On March 15, 2021, Tesla CEO Elon Musk made the following statement on his official Twitter account:

I ’m getting a Shiba Inu #resistanceisfutile

Source: Twitter
Elon Musk said, “I’m getting a Shiba Inu,” which prompted Doge coins to rise to a high of $ 0.08.

On the other hand, the price of SHIBA INU (SHIB) also rose sharply, rising by nearly 300%.

After that, every time Mr. Elon Musk made a statement about Shiba Inu, the market of SHIBA INU (SHIB) reacted and the price soared.

SHIBA INU (SHIB) was up 17% when he said in June, “My Shiba Inu will be named Floki.”

My Shiba Inu will be named Floki

Source: Twitter
After that, as mentioned above, on September 13th, I posted a photo of Shiba Inu on Twitter and said, “Floki has arrived (Shiba Inu’s” Floki “has arrived at Elon Musk.”

After this tweet, the price has risen 4.8%.

Floki has arrived

Source: Twitter
SHIBA INU (SHIB) responds greatly to Elon Musk’s tweets because some people think that Elon Musk may buy SHIBA INU (SHIB) from the tweets or partner with his own business. ..

It can be said that the price of SHIBA INU (SHIB) may increase in the long term if Mr. Elon Musk purchases SHIBA INU (SHIB) or uses it for his own business.

It is also said that many people think that the technology and concept of SHIBA INU (SHIB) is credible when he buys it from an IT tech company.

The prices of virtual currencies are often expected to change significantly due to the statements of prominent entrepreneurs and investors.

Listed on the virtual currency exchange


As mentioned above, the price of SHIBA INU (SHIB) has risen significantly due to listing on exchanges such as Binance .

When listed on an exchange, it is expected that the larger the listed exchange, the higher the trading volume and the higher the price.

It is also possible that rising market demand will increase the success rate of SHIBA INU (SHIB) PJT.

In addition, especially the meme coin SHIBA INU (SHIB) has a fan community, so fans who have more access to transactions may buy more SHIBA INU (SHIB).

It can be said that the point of “which virtual currency exchange will be listed in the future and how it will spread to the market” is also a big factor that influences the price.

Impact of Ethereum’s flipning effect
“Flipning” of Ethereum means the reversal phenomenon of the market price that the price of Ethereum exceeds the price of Bitcoin.

Ethereum is becoming more popular because of the growing demand for NFTs and DeFi operated using the Ethereum platform, and the fact that it is more stable and versatile than Bitcoin.

Ethereum is also planning an upgrade in the near future with major changes to the approval protocol, and it is expected that the upgrade will further increase the price.

If this “flipping” actually happens, Bitcoin holders may look for new investment destinations.

In that case, it is possible that SHIBA INU (SHIB), which is becoming more popular as the next Doge Coin, will attract attention.

To purchase such SHIBA INU (SHIB), first open an account at Binance, one of the largest exchanges in the world

Summary of virtual currency SHIBA INU (SHIB)


This time, I explained about the hot topic virtual currency SHIBA INU (SHIB).

Cryptocurrency SHIBA INU (SHIB) is a cryptocurrency that was born as a meme currency of Doge coin, but it will be noticed in the future because it is making new efforts one after another such as NFT and DEX and it is adopted by major cryptocurrency exchanges. It can be said that it is a virtual currency where people gather.

If you are thinking of investing in SHIBA INU (SHIB), please refer to this article.

Summary of this article


* Cryptocurrency SHIBA INU (SHIB) was born by unidentified developer Ryoshi as a meme currency of Doge coin
Actively working on various PJTs such as NFT and DEX
* It is listed on major cryptocurrency exchanges one after another, and the price is rising each time.
In the future, listing on the exchange, remarks by celebrities such as Mr. Elon Musk, and Ethereum flipning may affect prices.
* To purchase such SHIBA INU (SHIB), first open an account at Binance, one of the largest exchanges in the world

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