As per the reports, Shiba Inu was the most popular and searched token in 2021. The token had 43 million views on the internet that is more views than the worlds biggest cryptocurrency Bitcoin (btc). We have to say that Shiba Inu is not a meme token now.
Shiba Inu (SHIB) is an ethereum based meme coin. It becomes popular after the worldwide popularity of Elon musk’s favourite Dogecoin. Till the last quarter of 2021, many crypto exchanges like Binance, KuCoin, Coinswitch Kuber, etc listed this popular token on their exchanges.
In this article, we are going to tell you 5 Things Investors must know about Shiba Inu Token before investing in 2022.
1. Unknown Founder:
Like Bitcoin (btc), the world did not know who is the founder of the Shiba Inu token. Shib was found by the unidentified individual or a group known as Ryoshi.
2. The Buterin Vitalin Connection:
Ryoshi had sent 50% of the Shiba Inu token to the Ethereum co-founder Vitalik Buterin. Vitalik has donated almost 50 Trillion Shiba Inu to India for Covid Relief during the second wave of corona in April 2021.
3. Really a Dogecoin Killer?
When Shib was launched, their official website mentioned Shib as the Dogecoin killer for a long time. There are coins like Floki Inu, Kishu Inu, Dogelon, etc who themselves are considered as Dogecoin killers. But right now, Shiba Inu is the only contender who can challenge Dogecoin.
4. Shiba’s Multi token ecosystem:
Shiba Inu’s ecosystem is mainly made up of 3 tokens, Bone ($BONE), Shiba Inu ($SHIB), and Leash ($LEASH). Among these, Shib is the most important token of this ecosystem.
5. Future of Shiba Inu:
Shiba allows its users to earn passive income with the help of lend and stake. Shib also supports smart contracts. The ecosystem also supports the Defi platform and NFT’s in shibswap. Currently, they are working on the Layer 2 protocol to make their transaction fees much lower.
Disclaimer: Do your research and consult your financial advisor before making any investment decisions.