What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) is a decentralized cryptocurrency project that was launched in August 2020.
It is based on the Ethereum blockchain and uses the ERC-20 token standard. The project was created by an anonymous group of developers who wanted to create a new type of cryptocurrency that would be more accessible and easier to use than Bitcoin. The Shiba Inu project has a few key features that make it stand out from other cryptocurrencies.
First, it has a low total supply of 1 quadrillion tokens, making it one of the rarest digital assets in existence. Second, it has an innovative distribution model that rewards holders with free tokens every day. Third, it has a deflationary supply mechanism which means that the number of tokens in circulation will decrease over time as more tokens are burned.
Finally, Shiba Inu also has its own decentralized exchange (DEX) called ShibaSwap where users can trade SHIB tokens for other cryptocurrencies or stablecoins. Overall, Shiba Inu is an interesting project with some unique features that could make it attractive to investors looking for something different from Bitcoin or Ethereum. Its low total supply and deflationary mechanism could make it a good long-term investment option for those looking to diversify their portfolios with digital assets.
