What is Shiba Inu?
Shiba Inu (SHIB) is a meme token launched in 2020 as a "Dogecoin killer". The token operates on the Ethereum blockchain and has become one of the most famous assets in the meme segment with a multi-billion dollar capitalization.
How It Works
SHIB is a standard ERC-20 token with an initial supply of one quadrillion units, a significant portion of which has been burned. An ecosystem has been built around the token: a decentralized exchange, a layer 2 network for cheap transactions, additional tokens, and a regular SHIB burn mechanism that reduces supply.
Pros and Cons
- Pros: huge community, growing infrastructure, high liquidity on exchanges.
- Cons: price is mainly determined by sentiment and hype, massive supply, extreme volatility, and risk of significant drawdowns.