Shiba inu was founded in August 2020 by an individual who goes by the Rayosky and was created by an anonymous quote successful businessman who provided its initial liquidity on Uni Swap.
It’s not entirely clear who Rayoshi is, or what he does but photos from his early medium posts suggest he has close Connections to Vitalik Butero who could be the mysterious successful businessman behind the scenes.
Shiba Inu was created primarily as an experiment in decentralized governance and partly to be a direct competitor to Dogecoin, that s why shiba Inu is also referred to as the doge coin killer.
It looks like Rayoshi left Shiba Inu in June of this year and community member who goes by the name Satoshi Kusama is now the de face of Shiba Inu. It’s not entirely clear who coordinates the development, but it appears to be a community effort centered around 10 developers detailed in Shiba Inu’s second white paper.
Shiba coin price prediction
Similar story for shiba price up by a whopping 94,000 X since it was first launched, as reported in the viral news article by cointelegraph. Shibs price action seems to have been driven purely by FOMO from retail investors, who only pay attention to price. Shibs price tag is extremely low and this can give the impression to new crypto investors if it rises to a dollar or even just a cent they will be rich. However this will never happen because, it’s all about the market cap. Shiba inu’s market cap around $30 billion is extremely large, even so shibs technicals suggest it is possible it could triple from its current price in the coming weeks. However it’s really important to note that this would likewise require a lot of upside volatility from other cryptocurrencies especially Bitcoin.
Tech behind Shiba Inu
Shiba Inu does not have its own blockchain, shiba inu’s ecosystem lives on ethereum and ship is an ERC 20-token.
Shiba Inu its primary use comes from the shiba swap decks and it also accepted as payment by select merchants. 50% of ships maximum supply of 1 quadrillion was pulled on uni swap provided by the mysterious businessman. The liquidity keys to the shiba pool were subsequently thrown away, now this is the closest thing you can get to a fair launch for an ERC 20 token. The other 50% of shiba supply was sent to ethereum founder Vitalik Buterin who burned 80% of the ship he had received, and donated the remaining 20% to various causes earlier this year. Shib’s remaining supply is just under 600 trillion and most of it is quite evenly distributed with the largest shib holder being the crypto.com exchange. There are over 900,000 Shiba holders and again this doesn’t factor in all the ship held on exchanges.
From its inception, Shiba Inu has done things differently. Starting with a supply of 1 quadrillion, our founder, Ryoshi, locked 50% in Uniswap, then “burned” the other half to Ethereum co-founder Vitalik Buterin for safekeeping. To help reverse the devastating spread of Covid-19 in India, VB has since utilized SHIB in the largest crypto donation in history, and then actually burned 40% of its total supply to a dead wallet, ensuring our long-term success and stability. Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Only the future will tell if it will succeed.
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