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What is Shiba Inu coin? Detailed introduction to Shiba Inu coin online trading platform and total amount
The Shiba Inu coin, a popular meme cryptocurrency based on the Ethereum blockchain, has gained a loyal following and is traded on major exchanges like Binance, Coinbase, and Crypto.com.
Oct 09, 2024 at 03:00 pm
What is the Shiba Inu Coin?
Overview:
- The Shiba Inu coin is a decentralized cryptocurrency created in August 2020.
- It is named after the Japanese dog breed of the same name.
- Shiba Inu is based on the Ethereum blockchain and uses the ERC-20 token standard.
Purpose:
- Shiba Inu was initially created as a "meme coin," intended to be a humorous take on the Dogecoin cryptocurrency.
- However, it has since gained a loyal following among cryptocurrency enthusiasts.
- Shiba Inu is seen as a potential investment opportunity due to its low price and high volatility.
Shiba Inu Coin Online Trading Platforms
Binance:
- Binance is one of the largest and most popular cryptocurrency exchanges in the world.
- It offers a wide range of cryptocurrencies, including Shiba Inu.
- Users can buy, sell, and trade Shiba Inu coins on Binance.
Coinbase:
- Coinbase is another major cryptocurrency exchange with a reputation for ease of use.
- It offers a limited range of cryptocurrencies, including Shiba Inu.
- Coinbase allows users to buy and sell Shiba Inu coins (but cannot trade).
Crypto.com:
- Crypto.com is a cryptocurrency exchange and wallet provider.
- It offers a variety of cryptocurrency services, including support for Shiba Inu.
- Users can buy, sell, and trade Shiba Inu coins on Crypto.com.
Total Amount of Shiba Inu Coins
Issuance:
- Shiba Inu has a total supply of 1 quadrillion coins.
- This vast supply was created to reflect the inflationary nature of the Dogecoin cryptocurrency.
Distribution:
- 50% of the total Shiba Inu supply was initially burned (sent to a dead wallet).
- The remaining 50% was sent to the Ethereum founder, Vitalik Buterin, as a publicity stunt.
- Buterin subsequently donated a significant portion of his Shiba Inu coins to charity.
Burning and Deflation:
- Shiba Inu has implemented a burn mechanism to reduce the supply of coins over time.
- A portion of the transaction fees is used to burn Shiba Inu coins, making them permanently unavailable.
- This deflationary mechanism aims to increase the value of the remaining Shiba Inu coins.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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