Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.”
SHIB was created as a meme coin and can be called as an DOGE coins version on Ethereum. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies. The meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin. These tweets led to a quick increase in SHIB price.
Covid Relief and SHIB
From its inception, Shiba Inu has done things differently. Starting with a supply of 1 quadrillion, 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.
NFT and rescue of dogs
The SHIBA INU website invites dog-inspired artists from all over the world to foster the “artistic Shiba movement” as they bring their SHIBA INU community into the NFT market. SHIBA INU has also created a campaign using Amazon Smile in order to collect donations for rescue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.
Let us review SHIB price
SHIB Price Prediction
SHIB is currently trading close to the resistance zone of $0.00000828 which also coincides perfectly with the 0.618 fib. If it can break this resistance and flip it to support, we will soon start seeing a move towards $0.00000900, $0.00000992, $0.00001257 and $0.00001686. Failure to break the resistance at $0.00000828 could lead to a drop towards $0.00000681, $0.00000610 and $0.00000561.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
