Cryptocurrencies

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What currency type is Shiba Inu Coin? Which exchanges can buy Shiba Inu Coin?

Shiba Inu Coin is a meme-inspired, Ethereum-based ERC-20 altcoin with a limited supply of 1 quadrillion tokens, half of which has been burned to charity.

Oct 10, 2024 at 02:12 pm

What Currency Type is Shiba Inu Coin?

Shiba Inu Coin (SHIB) is a decentralized cryptocurrency that falls under the category of altcoins, which are alternative cryptocurrencies to Bitcoin. SHIB is based on the Ethereum blockchain and operates as an ERC-20 token.

Characteristics of Shiba Inu Coin:

Native to Ethereum: SHIB runs on the Ethereum network, which provides it with security and functionality.
Meme-Inspired: Shiba Inu Coin was created as a parody and competitor to Dogecoin, which is another meme-inspired cryptocurrency.
Limited Supply: According to its website, the total supply of SHIB is 1 quadrillion tokens. However, half of this supply was burned to Ethereum co-founder Vitalik Buterin in May 2021, who subsequently donated it to charity.

Which Exchanges Can Buy Shiba Inu Coin?

Shiba Inu Coin can be purchased on numerous cryptocurrency exchanges, including:

Binance
Coinbase
Kraken
KuCoin
Crypto.com
FTX
OKEx
Poloniex
AscendEX
Uniswap (decentralized exchange)

Trading Pairs for Shiba Inu Coin:

SHIB is most commonly traded against stablecoins such as USDT and USDC, as well as major cryptocurrencies like ETH and BTC. It is also available in some fiat currency pairs, such as USD and EUR.

Important Note:

Cryptocurrency markets can be volatile, and the value of Shiba Inu Coin can fluctuate significantly. Investors should conduct thorough research and understand the risks involved before investing in any cryptocurrency.

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