Get to know a little about Shiba Inu, the cryptocurrency of the moment.

Like bitcoin, Shiba Inu (SHIB) is a decentralized cryptocurrency; Created in August 2020 by the anonymous collective called Ryoshi, this cryptocoin promotes itself as a “dogecoin killer.” But what is this altcoin that has grown to position 10 in the world ranking about?

This cryptocurrency is based on the Ethereum blockchain, with the image of the Japanese hunting dog Shiba Inu, perhaps because of its startup motto, it is considered an important alternative to dogecoin, created respectively in 2013. This year, Shiba Inu multiplied its value by more of 1000%, which is equivalent to a capitalization of 35 billion dollars.

This stratospheric impulse is explained by something simple, but it makes a difference that everyone has taken note of. On October 4, Tesla founder Elon Musk tweeted a photo with his new pet, a shiba inu puppy. “Floki”. After this, the cryptocurrency Shiba Inu went to heaven and in a few days, it was placed almost at par with Dogecoin.

What until recently had been a little-known crypto meme, was placed on the cryptocurrency scene with a currency that today rubs shoulders with the most influential in the world.

But what does Shiba Inu consist of? Is it more than just a crypto meme? Is there something of value in it?

What is Shiba Inu about?

There is a document called woof Paper 3 , posted on shivatoken.com, detailing the guiding principles of the shiba inu ecosystem.

The founding premise of Shiba Inu is based on the question: What would happen if a cryptocurrency project was 100% run by its community? According to its Ryoshi creators, collective decentralization endows a power and strength that a centralized body could never obtain.

The creation of Shiba Inu is based on Ethereum and is hosted on this blockchain. Ryoshi claims that he decided to build the ecosystem on this blockchain for its stability and the project’s ability to remain decentralized. The Shiba Inu ecosystem consists of the following tokens:

• Shiba Inu (SHIH): This is the coin of the project that started with a supply of a quadrillion, of which Ryoshi blocked 50% and sent the other 50% to the co-founder of ethereum.
• Leash: It is the second token of the Shiba Inu ecosystem, it has a supply of 107,646 tokens.
• Bone: It is designed as a token that will allow the Shiva Army to vote on the next proposals. It has a total of 250,000,000 tokens.

The Shiba ecosystem also includes:

Shiva Swap: This is a DeFi platform whose objective is to provide a secure and decentralized place of commerce. SHIV and LEASH are traded within Shiva Swap.

Shiba Inu Incubator: It is a platform that has the purpose of gestating from a new concept, the creation of art, granting creatives greater credit.

Shiboshis: It is a collection of 10,000 NFT pieces created by shiba inu and created in ethereum.

What’s next for Shiba INU?

The exponential growth of SHiba Inu in recent days has raised this currency to a surprisingly high level, among the 10 most valuable digital assets on the market, at times surpassing the main of its rivals, DOGECOIN. It seems that eventually the “Dogecoin killers” rallying cry comes close to being real.

Although the near future of Shiba Inu is difficult or impossible to determine, this Alt Coin is much more complex than a simple Meme Coin, and that the team behind it has developed a whole complex ecosystem that will allow, once float, that the Shiba Inu is a solid project and one in which to keep the attention.

As postulated in its “Woof Paper” the token started in 2020 by a collective called Ryoshi extensively describes the operation of Shiba and its resources. A curious fact is that its rise is like the one that Dogecoin had in the spring. When it went from 5 to 57 cents between April and May.

Shiba Inu is undoubtedly one of the altcoins that has surprised the most this fall, and of course it will continue to be a broad topic of analysis and conversation in the future.