Shiba Inu is a cryptocurrency that started as a meme coin as a main competitor of Dogecoin. It is denoted as SHIB.
Both Dogecoin and Shiba Inu are dog-themed cryptocurrencies and have dog faces on their virtual coins. The SHIB coin specifically features the face of a ‘Shiba Inu dog.
However, SHIB has since grown from being just a meme coin to become a utility token. It has quickly gained speed and value as investors are drawn in by headlines and tweets from personalities like Elon Musk and Vitalik Buterin flock to accumulate the cryptocurrency.
Interestingly, Vitalik Buterin, the co-founder of Ethereum, was long believed to be the founder of Shiba Inu but he set the record straight in the Lex Fridman podcast on June 5, 2021.
Who is the real founder of Shiba Inu?
Although very little is known about the creator of Shiba Inu, he goes by the name “Ryoshi.” According to the Shiba Inu website, the creator sights “the love for Shiba Inu dogs” as one of the reasons behind creating Shiba Inu cryptocurrency.
Recently, Ryoshi deleted his social media accounts including his medium posts, and left the following statements:
‘Every Shibarmy is Ryoshi. It does not represent someone, but the glory of Shibarmy!”
He also went ahead to say:
“I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens.”
Current SHIB use cases
SHIB can now be used as a utility token for the following:
- Paying for groceries at the largest Latino grocery chain.
- Paying for watches from Luxury brands like Swiss watchmaker Tag Heuer.
- Paying for hotels and flights using Shiba Inu on Travala.
- Paying for electronics at American electronics retailer Newegg.
- Paying for eateries at Le Bistrot d’Eleonore et Maxence, an eaterie in the French capital.
- Paying for bills at Welly’s, an Italian fast-food restaurant.
One of the main enablers for SHIB to be used as a utility token for paying for services and purchasing products is Shiba Inu’s partnership with BitPay, a crypto payment service provider headquartered in Atlanta, Georgia, United States.
Shiba Inu is also venturing into the metaverse after unveiling Shibarium, a future Layer 2 solution.
Where to buy Shiba Inu?
The SHIB token has been listed on a number of crypto exchanges.
Therefore, you can trade or buy Shiba Inu in the following exchanges:
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