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Gimli, one of the 10 richest Ethereum whales, continues to buy SHIB (386,000,000,000 tokens in the account) along with other large investors. Future metaverse, P2E, own blockchain, token burning up 200%+, Visa card launch and own stablecoin are possible reasons for this and a sign of an imminent rebound in the price. Is it worth it to follow the example of whales - in this article.
Shiba Inu is a relatively young project launched in 2020 by Ryoshi. They decided to name the cryptocurrency in honor of the Japanese Shiba Inu dog breed, which was previously used to symbolize Dogecoin digital coins.
The goal of SHIBA is to create the best ecosystem on the planet, which will be managed by the community, while not spending a single dollar either on promotion or on the creation of the token itself.
There are many examples of early investors becoming millionaires by investing small amounts of money in SHIB. For example, a 35-year-old supermarket manager from England invested $8,000 in Shiba in February 2021 and in just three months $8,000 turned into $10,000,000. Or a former driver who invested $670 and earned $1,700,000. There are dozens of such examples, otherwise and hundreds.
People believed in the meme-coin, having read only WhitePepper and did not lose. Now Shiba Inu is a whole decentralized ecosystem consisting of an NFT marketplace and its own Shiba Swap crypto exchange. The main difference from the main projects is that shiba is completely run by a community of more than 120,000 people. The project has a large audience. Instagram alone has over 150,000 followers.
Tokenomics and Shiba Inu: 3 tokens - do I need to buy everything?
There are currently 3 different ERC-20 tokens in the Shiba Inu ecosystem.
The most valuable asset is the SHIB token, which was released in August 2020. Initially, the emission was 1 quadrillion, but after Buterin burned it, it greatly decreased. At the moment, there are 549 trillion in circulation and the number of tokens continues to decrease due to burning. Back in August 2020, Shib traded at $0.00000000051 and peaked in October 2021 at $0.00008. The cost of the token as of September 16, 2022 is $0.0000116.
The next place in the ecosystem is occupied by LEASH coins, the total number of which is 107,646 pieces. The tokens are of high value and are used to provide liquidity for the LEASH-ETH pair by staking.
BONE is the third token in the Shiba Inu ecosystem. Token holders have the right to decide on the introduction of innovations in the ecosystem. The total supply of BONE is 250 million coins.
It is worth considering that these coins are issued as a reward for providing liquidity and staking. Liquidity providers are charged 0.1% of income for USDT and DAI swap transactions.
>> Advantages and disadvantages of Shiba inu <<
The clear benefits of the project include:
? Work on the basis of Ethereum, which is famous for its reliability, security and high level of decentralization;
?Entire ecosystem including NFT and DEX exchange; 100% community management; ?Constant development.
As for the shortcomings of the project:
?Minimum information about developers; ?Lack of applicability at the moment; ?High commissions when withdrawing funds from exchanges; ?Well, whatever one may say, the big volatility of the token and dependence on media personalities (for example, Elon Musk), although sometimes this plays into the hands of traders.
>> Whales and Token Burning: Latest News on Shiba Inu <<
Recently, whales have begun to massively buy shiba for a tidy sum. So recently, the largest Ethereum whale stocked up as much as $ 7 million, acquiring 536 billion SHIB in several transactions and this is not an isolated case. In April 2022, a token burn portal was launched to reduce the circulating supply of SHIB and increase the price accordingly.
>> Is it worth investing in SHIB <<
Shiba Inu is a truly unique project that has grown in capitalization from $8,000 to $6.9 billion in just a few years. Such an impressive rise never ceases to attract not only ordinary users, but also the largest whales.
Although originally Shiba is a meme token, it may be interesting for a long-term investment. First of all, this is due to the high volatility and sharp price jumps in both directions. The project has prospects, and this is evidenced by the fact that Shiba Inu has long grown from a meme project into a full-fledged ecosystem that has its own exchange, NFT, as well as the upcoming Shibarium blockchain, the Shiba Eternity game and its own metaverse. Also, more than 500 retailers have already begun to accept the token as payment, including Amazon, eBay and Walmart.
Back in November last year, I bought exactly 1,000,000 Shiba Inu on the BINANCE exchange and placed it in the "earn" section, I won't touch it, maybe one day I will become a millionaire;)
Thanks for reading!
