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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.

Shiba Inu (CRYPTO: SHIB) has experienced a resurgence in its burn rates, with an 800% surge and millions of coins burned in recent transactions prompting positive market sentiment and an increase in prices. What Happened: Lucie, Shiba Inu's marketing lead, emphasized the importance of income generation to facilitate burns, highlighting Ryoshi's burning of keys to Shib's supply.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800% Amid New Margin Pair Listing On Kraken

Shiba Inu (CRYPTO: SHIB) is up 7.6% amid significant whale transactions and a the movement of around 1.75 trillion SHIB. What Happened:Shiba Inu's ecosystem is undergoing significant upgrades, with the recent Bor hard fork on Shibarium targeting critical bug fixes to enhance transaction processing and network performance.

'Dogecoin Killer' Shiba Inu Rallies 7.6%, As 1.75 Trillion SHIB Coins Moved From Robinhood Wallet

Dogecoin

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have experienced a turbulent month, but traders remain optimistic about their future prospects. What Happened: Renowned chart analyst Ali Martinez has predicted a bullish breakout for Shiba Inu, highlighting the formation of a bull flag on its daily chart.

Are Dogecoin And Shiba Inu Due A Bounce? This Trader Sees 'Bull Flag' Forming For One Coin

Pseudonymous crypto trader "apatheticwhale" shared his thoughts on the success of Shiba Inu (CRYPTO: SHIB) and the importance of intellectual property (IP) in the meme coin space. What Happened: The trader highlighted how Shiba Inu's unique approach to creating its character, lore and mission differentiated it from other meme coins that simply repurposed existing memes.

How Did Shiba Inu Become The 'Dogecoin Killer?' Crypto Whale Thinks 'Its Mission' And This One Factor Were Key

Bitcoin

Pseudonymous cryptocurrency trader Kevin recently shared his thoughts on the upcoming Federal Open Market Committee (FOMC) meeting, predicting it could have a sizeable impact on the cryptocurrency market. What Happened: Kevin in his latest tweet emphasized the importance of the meeting, set to take place on Wednesday, as a catalyst for the next significant move in the market.

Bitcoin, Dogecoin, Shiba Inu Pumped After The Last FOMC Meeting—Will History Repeat On Wednesday?

The price of Shiba Inu (SHIB) is in a horizontal trend after the end of the uptrend on March 5, 2024.

Shiba Inu Continues Its Horizontal Trend And Holds Above $0.00002100

Pepe

Pepe (CRYPTO: PEPE) is in a consolidation period, but traders remain optimistic given increasing retail demand and transaction volumes. What Happened: Revolut, the U.K.'s leading finance and crypto app, has seen a significant shift in its customers' cryptocurrency holdings, with Pepe now surpassing Ethereum (CRYPTO: ETH) in terms of total holdings.

Pepe's Retail Appetite Chases Shiba Inu, With 309% Increase In Revolut Customer Holdings: Trader Sees 'A Mini Bull Flag'

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) is trading 5.3% lower on the day despite a surge in new transactions and active accounts. What Happened: Lucie, marketing lead of Shiba Inu, announced that ShibaSwap, the DeFi platform integral to the Shiba Inu ecosystem, is expanding to operate on both the Shibarium and Ethereum networks.

Shiba Inu Down 5% Despite 144% Spike In Active Accounts, Community Builder Sees 'Powerful Economics'

ApeCoin

Polygon

dogwifhat

Pseudonymous crypto trader "Cold Blooded Shiller" raises the question of whether the market is already beginning to phase out certain altcoins in favor of stronger performers and Bitcoin (CRYPTO: BTC). What Happened: Shiller points out that each crypto cycle sees coins that have a strong run but fail to make new all-time highs in subsequent cycles.

'Spectacular Meme Runs' Mean These Three Altcoins Could Be 'Doomed To Irrelevancy,' Muses Veteran Trader

Ethereum

The week was a rollercoaster ride in the world of cryptocurrency. From Shiba Inu's skyrocketing burn rate to the rising concerns about overvaluation in the crypto market, there was no shortage of action.

Shiba Inu's Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto Updates This Week

CoinDesk Indices (CDI) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index (CD20) and the broad CoinDesk Market Index (CMI).

NEAR and SHIB Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have seen mixed monthly performance, but analysts remain optimistic about these tokens based on upcoming fundamental developments. What Happened: Shiba Inu announced its transformative upgrade for Shibarium, set to launch on May 2, aiming to enhance user experience and unlock next-level capabilities within the network.

Are Dogecoin And Shiba Inu Primed For The Next Leg Up?

Bonk

A closely followed crypto strategist is turning very bullish on memecoins in the current market cycle. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that retail traders could send memecoins soaring. “Highly bullish on memes this cycle though for a lot of reasons.

Crypto Analyst Says He's Highly Bullish on Memecoins This Cycle – Here Are His Top Picks

Shiba Inu (CRYPTO: SHIB) takes a significant stride forward as Robinhood allows trading of the meme coin for New York residents. What Happened: Shibburn data indicates a 2,092.4% burn rate increase in the past 24 hours.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 2,092%, Robinhood Adds SHIB Trading For New York Residents

Pseudonymous crypto trader “apatheticwhale” quizzed his followers on the potential of meme coins, asking which would become the third meme coin to reach a market capitalization of $10 billion. What Happened: Apatheticwhale, a self-proclaimed “apathetic crypto whale with giga wealth,” pointed out that while many meme coins have surpassed the $1 billion market cap milestone, only two have crossed the $10 billion threshold: Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE).

Only Dogecoin And Shiba Inu Have Crossed The $10B Meme Coin Mark: 'Who Will Be The Third?,' Muses Crypto Whale

The number of Shiba Inu (CRYPTO: SHIB) tokens being burnt has significantly decreased over the past week amid a parallel surge in SHIB prices by nearly 15% in the last seven days. What Happened: Shibburn, a social media handle on X that tracks the number of SHIB tokens being burnt, reported a 39.90% decline in the number of tokens burnt over the past week.

'Dogecoin Killer' Shiba Inu Burn Rate Drops Over Last 24 Hours, Mirrors Decline In Price

Pepe (CRYPTO: PEPE) has generated significant gains over the past seven days, prompting analysts to foresee further bullish price action. What Happened: Meme coin analyst and trader Murad highlights how Pepe, a “cult community with more than 10 million unique memes,” could flip Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE): I think it is possible that $PEPE flips $SHIB and possibly even $DOGE.

Pepe Up 50% On The Week: 'Cult Community' May 'Flip SHIB And Possibly Even DOGE,' Predicts Influential Trader

Dogwifhat (CRYPTO: WIF) surged 7% in the past 24-hour trading session alongside a more than 100% surge in trading volume, with analysts remaining bullish on WIF. What Happened: Coinbase International Exchange announced last week that Dogwifhat perpetual futures trading will commence on the Coinbase International Exchange and Coinbase Advanced from April 25.

'Shiba Inu Killer' Dogwifhat Dons Bull Hat On 7% Surge To $3.30: 'Breakout,' Says Trader

Avalanche

Beginning today, New Yorkers can trade SHIB, COMP and AVAX on the Robinhood app.

Robinhood lists SHIB, AVAX, COMP for trading in New York

Shiba Inu (CRYPTO: SHIB) is making waves again is making waves again with significant burn rates, wallet movements, a good first-quarter performance and ecosystem developments. What Happened: Shibburn data reveals a spike of 2,211.9% in burn rate in the past 24 hours, with a single transaction burning 1.8 million SHIB coins around two hours ago.

'Dogecoin Killer' Shiba Inu Burn Rate Skyrockets 2,212%, As Robinhood Wallet Moves 3 Trillion SHIB In A Single Transaction

Shiba Inu (SHIB) prices have recovered from the price drop on April 13, 2024. Price analysis by Coinidol.com.

Shiba Inu Is In A Range As The Uptrend Has Stalled

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) has witnessed significant whale activity driven by a 26% weekly surge, with the lead developer signaling confidence in the meme coin's performance. What Happened: Etherscan data shows one whale address that accumulated 237.87 billion SHIB on Monday.

Shiba Inu Whale Accumulates 237B SHIB In One Transaction: 'Much In Store For The SHIB Army,' Vows Lead Developer

Pseudonymous cryptocurrency trader Vapor highlighted the growing prominence of meme coins in the digital asset space, asserting that they have become a force that cannot be ignored. What Happened: Vapor took to X (formerly Twitter) to point out several advantages of meme coins over other popular crypto investment options.

Trader Predicts 'At Least 3 Meme Coins Above $100B Market Cap': Here's Which Coins Benzinga Followers Liked The Most

Shiba Inu (SHIB), one of the leading memecoins in the crypto market, is undergoing a significant transformation as it aims to establish itself in the decentralized finance (DeFi) space.

Crypto VCs Invest $12M in Shiba Inu's new “Layer-3” Blockchain and TREAT Token

TREAT will be the “final non-stable token” for the forthcoming privacy-focused blockchain.

News for Shiba Inu Crypto (SHIB)