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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.

Dogecoin

SHIB and DOGE have seen highest percentage growth in futures open interest since Nov. 1, outshining bitcoin and ether in a sign of increased investor risk appetite in the crypto market.

SHIB, DOGE Top Open Futures Rankings as Bitcoin Rally Spurs Risk-Taking

Shiba Inu (CRYPTO: SHIB) experienced an astonishing 14,400% surge in burn within a single day, resulting in the elimination of over 173 million SHIB in the past 24 hours, data from Shibburn shows.

Shiba Inu Burning Spree Sees A 14,000% Surge, 173M SHIB Eliminated In A Single Day

The price of Shiba Inu (SHIB) is rising above the moving average lines and the resistance level of $0.00000760 but remains below the resistance level of $0.00000820.

Shiba Inu Gains, But Remains Below The Resistance Level Of $0.00000820

The SHIB devs are still hard at work spinning up a hyped up decentralized identity platform, rolling out a new name service for users.

SHIB Devs Launch Name Service in Decentralized Identity Push

In a significant move, Shiba Inu (CRYPTO: SHIB) introduced the “SHIB Name Service” (SNS) on the Shibarium Layer-2. The innovative system seeks to simplify blockchain addresses and enhance digital identity.

Shiba Inu Launches 'SHIB Name Service' To Enhance Digital Identity And Blockchain Address

Bitcoin

Pepe

In the last 24 hours, meme coins and altcoins, including Shiba Inu (CRYPTO: SHIB), Floki (CRYPTO: FLOKI), Dogecoin (CRYPTO: DOGE), and Pepe (CRYPTO: PEPE), have experienced gains ranging from 3% to 5%, driven by the surge in Bitcoin's price to above $35,000. What Happened: Bitcoin (CRYPTO: BTC), the leading cryptocurrency, has confidently surpassed the resistance level of $35,000 that had previously hindered its upward movement over the past fortnight.

Dogecoin, Shiba Inu, Pepe, And Floki Surge As Bitcoin Demolishes $35K Barrier

Ethereum

Crypto whales have transferred Ethereum (ETH) and Shiba Inu (SHIB) worth hundreds of millions of dollars in multiple transactions that occurred within hours of each other, according to the blockchain tracker Whale Alert.

Whales Abruptly Move Over $305,000,000 Worth of Shiba Inu and Ethereum – Here's Where the Crypto Is Going

New data from a market intelligence firm reveals that holders of Shiba Inu (SHIB) and another memecoin that has more than doubled up during the last few days are still underwater.

Most Holders of Shiba Inu and One SHIB Rival That's Surged 115%+ in Days Still Underwater Despite Crypto Bounce

Cryptocurrency price analysis brought by Coinidol.com. The price of Shiba Inu (SHIB) rises when it breaks the moving average lines.

Shiba Inu Retraces as It Hits Its Prior Peak of $0.00000826

Shiba Inu (CRYPTO: SHIB) has seen a jump of 11% in its past 7-day trading while monthly gains stand at 6.7%. In the past 24 hours, the trading volume of the token has surged 106.6% while single-day trade gains are at 6.8% at the time of writing, taking it to the highest levels since the end of August.

Is Shiba Inu Going To Witness A Significant Rally, Are The Whales Pointing Towards Something Major?

According to statistics on October 26, 2023, the meme coin crypto economy has risen nearly 10% against the U.S. dollar in the past 24 hours. The top five meme tokens, including dogecoin, shiba inu, pepe, floki, and baby doge coin, have risen between 7% and more than 28% in the last day.

Top Meme Tokens Record Impressive Gains in 24-Hour Trading Frenzy

Dogecoin was one of Thursday's big movers, as the cryptocurrency climbed by as much as 10% in today's session. The surge in price comes as traders look to find opportunities in riskier crypto assets, with the meme coin realm ticking this box. Shiba inu also gained, reaching its highest point in over two months.

Biggest Movers: DOGE, SHIB 10% Higher, as Bulls Race to Meme Coins

Crypto trader Ali Martinez says the second-largest memecoin by market cap could rally based on the readings of one indicator. Martinez tells his 31,600 followers on the social media platform X that the Tom Demark (TD) Sequential indicator is signaling a potential long opportunity for Shiba Inu (SHIB) on the weekly chart.

Shiba Inu Indicator That Previously Signaled a 118% SHIB Rally Flashing Bullish Again, Says Crypto Analyst

The memecoins haven't been forgotten in the latest rally, with PEPE, DOGE, and SHIB all soaring double-digits over the week.

Memecoin Madness: PEPE, Dogecoin and SHIB Surge Amid Crypto Rally

The two popular meme coins have mostly underperformed crypto majors in the past week.

Dogecoin, Shiba Inu Jump 9% as Crypto Traders Take Riskier Bets

Shiba Inu (CRYPTO: SHIB) is partnering with UGC creator platform, RSTLSS, seeking to capitalize on the strengths of the Shibarium blockchain. What Happened: The partnership is expected to amplify the latter's capabilities in creating wearables for both the digital and physical realms.

SHIB Teams Up With RSTLSS: Is The Metaverse Getting A New Wardrobe Set?

Shiba Inu (CRYPTO: SHIB), a meme coin, has observed a 6% increase in the last 24 hours, as a wider market rally ensues due to optimism surrounding the potential approval of Bitcoin (CRYPTO: BTC) spot ETFs. What Happened: According to data from Shibburn, a Shiba Inu burn tracker, over 121 million SHIB tokens were burned, resulting in a significant spike of 600% in the burn rate within the past 24 hours.

Shiba Inu Rides Bitcoin's $34K Wave, SHIB Burn Rate Rockets 600% Amid Market Frenzy

Cryptocurrency price analysis brought by Coinidol.com. The price of Shiba Inu (SHIB) fell on October 9 and a new price range was set.

Shiba Inu Targets $0.00000635 As It Faces Bearish Exhaustion

On-chain data shows a crypto whale just moved a massive amount of the memecoin Shiba Inu (SHIB). According to the crypto whale-watching service Whale Alert, an Ethereum (ETH) address suddenly moved 4.56 trillion SHIB tokens worth about $31.41 million to a new address earlier today.

Shiba Inu Whale Abruptly Moves 4,560,030,677,374 in SHIB – Here's Where the Crypto's Headed

Meme coins were one of the biggest casualties of Wednesday's price consolidation, falling by as much as 2% in today's session. The decline comes as a result of profit taking, following strong gains to start the week. Shiba inu and dogecoin remain in the red, as of writing.

Biggest Movers: SHIB, DOGE Fall, as Crypto Markets Consolidate

Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) started the week on a positive note as Japanese crypto exchange, BitTrade announced adding the meme coins. Amid widespread acceptance of tokens at exchanges, regulatory compliance changes and an expected approval for Spot Bitcoin ETF, could this news push token prices higher?

Shiba Inu, Dogecoin Join BitTrade: Will These Meme Coins See A Bull Run?

The burn rate of Shiba Inu (CRYPTO: SHIB) has experienced an incredible surge of over 270% within the past 24 hours. Over the course of this period, a whopping 48 million SHIB tokens were burnt and permanently removed from circulation.

Swiftie Lift For Shiba Inu? SHIB Burn Rate Rockets 270% As 'Eras Tour' Accepts Meme Crypto Alongside Bitcoin, Ethereum, Dogecoin Payments

Data reveals that the meme coin market has diminished by over $3 billion in value since the dawn of 2023. The leading meme coin by market cap, dogecoin (DOGE), saw a decrease of $2.46 billion from January onwards. Concurrently, shiba inu (SHIB) experienced a drop of approximately $1.22 billion over the previous nine months.

Meme Coin Market Plummets $3.2 Billion in 2023: Dogecoin and Shiba Inu Lead Declines

Saturday saw shiba inu climb to its highest point since Monday, as bulls made a slight return to the market. The meme coin rose by as much as 4% on Saturday, as the global crypto market cap made gradual gains to start the weekend. Solana was another notable mover, climbing above the $22.00 zone.

Biggest Movers: SHIB Hits 6-Day High to Start the Weekend

Cryptocurrency analysts of Coinidol.com report, the price of Shiba Inu (SHIB) is bearish and has already reached the expected decline.

News for Shiba Inu Crypto (SHIB)