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Shiba Inu

Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." According to its whitepaper, Shiba Inu was created with the intention of creating a "100% community-led" cryptocurrency. Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-based mining algorithm. Shiba Inu is widely considered to be a "memecoin" due to its high volatility and network effect, driven by influential commentators like Tesla CEO Elon Musk.

The cryptocurrency Shiba Inu was created in August 2020 by an anonymous person known as "Ryoshi."

Shiba Inu aims to be a 100% community-led, decentralized cryptocurrency which seeks complete independence from centralized authorities and takes pride in that it was not founded from an existing community. 

SHIB exists on the Ethereum blockchain because Ryoshi viewed it as a well-established, secure, and decentralized network that would allow the Shiba Inu project to be developed with zero outside regulation. 

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Scrypt-based mining algorithm. 

When SHIB was created, 1 quadrillion tokens were minted. SHIB’s founder sent 50% of the total supply to Ethereum co-founder Vitalik Buterin, who then burned 90% of his holdings by sending the tokens to a dead blockchain address. Buterin said he’d donate the remaining 10% to charity. 

The remaining supply, which wasn’t sent to Buterin, is locked in Uniswap, which is a decentralized finance protocol used to exchange cryptocurrencies. 

The Shiba Inu community considers the crypto to be a "Dogecoin Killer" because it has the ability to top its memecoin rival's market cap without ever crossing the $0.01 mark. 

Shiba Inu is widely considered to be a memecoin due to its high volatility and potential risk, as well as its network effect, driven by influential commentators like Tesla CEO Elon Musk.

The ‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) is back on track with its surging burn rates, and some traders are accumulating the meme coin, reflecting positive investor sentiment. What Happened: According to data from Shibburn, Shiba Inu currently boasts a 2,889.5% burn rate.

'Dogecoin Killer' Shiba Inu Burn Rate Skyrockets 2,289%, As Unknown Whale Hoards $14M In SHIB

Nearly 30 million Shiba Inu (CRYPTO: SHIB) tokens have been permanently removed from circulation. This move comes amidst a significant price correction for the meme coin, which saw a sharp decline following a recent peak.

Shiba Inu Burn Intensifies Amid Dramatic Market Downturn

Based on the most recent data, the meme cryptocurrency shiba inu has witnessed 410 trillion tokens burned, translating to approximately 41% of its entire circulation. Concurrently, the digital asset has experienced a recent price revival over the last four weeks.

Despite Recent Dip, Meme Coin Shiba Inu Marks 177% Monthly Growth

Shiba Inu (CRYPTO: SHIB) is back on track with a burn rate 933% surge and an 8% increase in daily active addresses. Analysts remain bullish on the meme coin despite a recent drop.

'Dogecoin Killer' Shiba Inu Burn Rate Defies Market Action With 933% Surge, Daily Active Addresses Spike By 8%

Dogecoin

Coinbase's meme cat, Toshi (CRYPTO: TOSHI) is up 39.3% in the past 24 hours, pushing its monthly gains to 121.6% and leaving other trending memecoins like Dogwifhat, Pepe and Bonk behind. What Happened: On March 7, Toshi proposed to allow users to decide whether the sales tax will be removed or kept until the treasury, currently sitting at 500 ETH, hits 1000 ETH.

Toshi Leaves Dogecoin, Shiba Inu Behind With 39% Gain: Trader Thinks Meme Coin Is Undervalued

Shiba Inu (CRYPTO: SHIB), despite a flat weekly performance, is attracting bullish sentiment. What Happened: The dog-themed meme coin is seeing an increase in whale transactions and significant trading volumes, according to U Today, citing IntoTheBlock data.

Shiba Inu May Have 'Another 147%' Upside Coming, Analyst Says As $31B Trading Volumes Overshadow Dogecoin

Solana

Myro (CRYPTO: MYRO) is up 31% in the past 24 hours, buoyed by recent listings over the last week, with analysts optimistic about the token's prospects. What Happened: On March 12, Uphold, a multi-asset digital money platform used widely across the U.S., announced that Myro will now be available on its platform.

'Shiba Inu Of Solana' Myro Bites Off 31% One-Day Gain: 'God Candle Coming Soon,' Says Trader

The two leading meme coins Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have recorded monthly gains of 109% and 238%, respectively. However, their gains pale in comparison to other dog coins, frog coins or cat coins.

Why Can't Dogecoin And Shiba Inu Keep Up With Other Meme Coins?

Despite Shiba Inu's price currently dropping 5.7% in a single day and jeopardizing growth, the Shib community states that Shiboshi non-fungible tokens (NFTs) are like a passive income for life. What Happened: Data from IntoTheBlock indicates a sudden spike in Shiba Inu whale transactions to 923 (17.6 trillion SHIB) as of March 11 compared to 588 transactions (5.74 trillion SHIB) as of March 10.

'Dogecoin Killer' Shiba Inu Witnesses 6.84M Tokens Shifted To Coinbase, Binance: Rep Touts Shiboshi As 'Passive Income For Life'

A newly emerged memecoin branded after the viral X influencer NFTNick rallied 1,136% in the past three days. The token was created three days ago and riding on the back of NFTNick's X community popularity.

Viral NFTNick Kicks Dogecoin, Shiba Inu Out Of The Spotlight With 1,136% Gains Backed By 'Choose Rich' Catchphrase

Bitcoin

Ethereum

Pepe

Tesla investor Ross Gerber took to X, formerly Twitter, to caution the younger generation about the pitfalls of investing in lesser-known cryptocurrencies, commonly referred to as “sh*tcoins.” What Happened: On Monday, Gerber took to X and urged them to focus on established cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), referring to them as the king and queen of the crypto world.

Tesla Bull Says Don't Fall For 'Sh*tcoins' Like DOGE, SHIB, PEPE: 'Stick To The King, Bitcoin. Or Queen, ETH'

Bitcoin ETF inflows could lead to a “sell-side” crisis in the coming months, one market observer said.

DOGE, SHIB Rally Eases as Bitcoin Bullishness Remains 'Elevated'

In February, crypto phishers managed to steal a staggering $47 million, primarily through fake accounts on Elon Musk‘s social media platform X. These scams, related to Bitcoin, Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and other cryptocurrencies, resulted in over 57,000 victims falling prey to these schemes.

Staggering $47M Stolen In Crypto By Bitcoin, Dogecoin And Shiba Inu Phishers In February, Targeting 57K Victims On Elon Musk's X

Shiba Inu (CRYPTO: SHIB) could not spur a rally last week despite whale movements and recent token burns. What Happened: Etherscan data indicated a movement of 2 trillion Shiba Inu tokens, worth $78.5 million, between hot wallets of the Crypto.com exchange.

Shiba Inu TVL Peaks At $2.25M As 2 Trillion SHIB Tokens Move Between Exchange's Hot Wallets

In the first two months of 2024, the cryptocurrency community has been hit with a staggering $104 million in losses due to phishing incidents. The majority of the victims were Ethereum (CRYPTO: ETH) users, who accounted for $78 million of the losses.

Crypto Community Lost Staggering $104M In Bitcoin, Dogecoin, Shiba Inu Phishing Scams In 2024: Ethereum Users Hit The Hardest

The price of Shiba Inu (SHIB) is still above the moving average lines, but the uptrend has stopped at $0.00004500 on March 5, 2024.

Shiba Inu Price Rally Ends And Drops

Crypto analyst Ali Martinez has identified a crucial pattern for Shiba Inu (CRYPTO: SHIB) on the coin's 4-hour chart, suggesting a significant price movement could be imminent, provided it could carry out a “sustained close” above the $0.000038 resistance. What Happened: On Sunday, Ali Martinez highlighted a technical formation for SHIB.

Is 'Dogecoin Killer' Shiba Inu Headed For Another 40% Surge? Crypto Analyst Predicts 'Bullish Breakout' For SHIB Under These Conditions

The U.S. witnessed a staggering 53% increase in losses from cryptocurrency investment scams in 2023, reaching a total of $3.94 billion, according to a recent report by the Federal Bureau of Investigation (FBI). What Happened: The FBI's Internet Crime Report 2023 revealed that the total losses from scams related to crypto, such as Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), in 2023 rose to $3.94 billion, marking a 53% increase from the previous year's $2.57 billion, Coindesk reported.

Americans Lost Staggering $3.94B To Bitcoin, Dogecoin, Shiba Inu And Other Crypto Investment Scams In 2023, FBI Report Reveals

Shiba Inu (CRYPTO: SHIB) continued its upward trajectory with a 13% gain in Friday's trading session, fueled by hints from the community about potential token burns and increasing meme coin adoption. What Happened: Lucie, the marketing strategist of the Shiba Inu community, recently highlighted that 40 Ethereum had been collected for burning, hinting at "SHIB burns incoming.

Shiba Inu Pumps 13%, Dethroning Rival Dogecoin In One Important Trading Metric With 'Burns Incoming'

Surging meme coins and other altcoins can apparently thank Bitcoin for filling traders' pockets, says Bitwise CIO Matt Hougan.

Bitcoin Gains Are Pushing Traders Into Meme Coins, Says Bitwise Exec

Bitcoin cash and ethereum classic also posted significant gains as all 20 cryptos in the gauge appreciated.

SHIB's 106% Move Higher Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update

"Dogecoin killer" Shiba Inu (CRYPTO: SHIB) is currently navigating a 7.7% dip but recent developments and a surge in total transactions signal a potential rebound for the memecoin. What Happened: Shibarium scan data shows Shiba crossed the milestone of 400 million total transactions, showcasing a robust level of activity within its ecosystem driven by low fees.

'Dogecoin Killer' Shiba Inu Gears Up For A 'Potential Rebound': Transactions Surpass 400M, Shiba Names Launched

The stellar rise of Dogwifhat (CRYPTO: WIF) has made it just the latest dog-themed member of the $2 billion valuation club. Dog-themed meme coins, currently 36 in total, boast a combined market capitalization of $47.3 billion, according to Coingecko data.

Dogecoin, Shiba Inu Welcome Dogwifhat In $2B Market Cap Club: Why Do Dogs Dominate Cats in Crypto?

The cryptocurrency market has shifted gears, with artificial intelligence (AI) tokens surging on Thursday, while meme coins, like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: DOGE), saw a decline. What Happened: This trend coincides with an upcoming Nvidia conference where crypto AI projects are expected to have a presence.

Shiba Inu, Dogecoin Caged As AI Coins Like Fetch.AI Excite Market: Here's Why

Data from CoinGecko shows the AI token category was up 25% on average in the past 24 hours, compared to bitcoin's 0.3% increase.

News for Shiba Inu Crypto (SHIB)