What is the Shiba Inu coin?
The Shiba Inu coin which is also called the dogecoin killer is a cryptocurrency created by someone called Ryoshi"( seems everyone likes Japanese pseudonyms).
A meme coin lacking use case, simply a coin that can be transferred from one user to another.
The first major use case for Shiba Inu (shib) was in the case of Vitalik Buterin (creator of ethereum) donating over 40 trillion shib which was worth over a billion dollars (yes that's right) to the India covid relief. This shocked many crypto holders especially meme token holders. This of course caused massive volatility in prices which caused prices to crash by 50%.
Another power player in the crypto space is billionaire CEO Elon Musk, who since early 2021 has been involved in the cryptoverse with his tweets which most times pumps the price of coins, or crashes the market.
On the 24th of June 2021, Elon made a tweet "My Shiba Inu will be named Floki" which caused the price to rise to 14% in 24 hours.
Now the question everyone's asking is "will shib moon?". No one knows, and not me, as I am not a financial adviser.
What is the Shiba Inu coin?
The Shiba Inu coin which is also called the dogecoin killer is a cryptocurrency created by someone called Ryoshi"( seems everyone likes Japanese pseudonyms).
A meme coin lacking use case, simply a coin that can be transferred from one user to another. The first major use case for Shiba Inu (shib) was in the case of Vitalik Buterin (creator of ethereum) donating over 40 trillion shib which was worth over a billion dollars (yes that's right) to the India covid relief. This shocked many crypto holders especially meme token holders. This of course caused massive volatility in prices which caused prices to crash by 50%.
Another power player in the crypto space is billionaire CEO Elon Musk, who since early 2021 has been involved in the cryptoverse with his tweets which most times pumps the price of coins, or crashes the market. On the 24th of June 2021, Elon made a tweet "My Shiba Inu will be named Floki" which caused the price to rise to 14% in 24 hours.
Now the question everyone's asking is "will shib moon?". No one knows, and not me, as I am not a financial adviser.