Shiba Inu is a memecoin, meaning that it was originally created for fun and didn’t have any real uses. It can be referred to as the successor of Dogecoin, a dog-themed token shilled by Tesla’s founder Elon Musk.
The team behind Shiba Inu has been working on a Layer 2-solution called Shibarium, which is empowered by the almighty SHIB tokens . Fans of Shiba Inu, known as the Shib Army, expect Shibarium to improve SHIB transaction quality in terms of costs and speed. A SHIB Metaverse is soon to be launched as well, together with a card game named Shiba Eternity game.
SHIB has a hard cap of one quadrillion tokens, with a current circulating supply of SHIB of 589 trillion. The Shiba Inu team introduced a burn portal on ShibaSwap in April 2022, later on other centralized exchanges (CEXs) so that SHIB holders can proactively join the burning process and earn rewards for doing so. More than 410 trillion SHIB are effectively removed from the circulating supply ever since, making SHIB price go up. Recently, Shiba Inu has flipped Tron (TRX) to become the 14th largest cryptocurrency by market capitalization.
If you're interested in becoming a part of the Shiba Inu ecosystem, one of the first steps you can take is to purchase crypto. There are various ways to do so, such as instantly buying crypto with credit/debit cards , via bank transfer, via peer-to-peer transactions, or even in-person purchases. Alternatively, you can deposit funds into your Bitget account and use them to purchase cryptocurrencies, including SHIB.
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