The Shiba Inu coin's woofpaper (a whitepaper with a doge theme) describes it as a potential Dogecoin killer because it can "exponentially outpace the value of Dogecoin even without crossing the $0.01 value." Shiba Inu coin is currently worth much less than that.
Shiba Inu's goal is to increase the earning potential of its supporters. The main goal of the project was to create an ERC-20 token and ecosystem that were cheap enough for anyone to buy a bag of them. They purposefully priced the SHIB tokens at a fraction of a cent. The strategy is to make the economy profitable even if it only earns $0.01. So far, we believe the developers have been successful.
ShibaSwap is the Shiba Inu project's decentralized exchange cryptocurrency, where you can exchange other cryptocurrencies for Shiba Inu coins and vice versa. The Token’s supporters describe it as a "safe place to trade your valuable cryptocurrency while remaining decentralized."
The service has yet to be launched, so anyone thinking about using it should do their homework first.
Why Did Shiba Inu Tanked?
Shiba Inu coin prices fell by approximately 40% after Vitalik Buterin, a 27-year-old Russian Canadian billionaire, donated 50 trillion Shiba Inu coins to the India Covid Crypto Relief Fund, which is managed by Indian crypto entrepreneur Sandeep Nailwal.
Why’s Shiba Inu Platform Risky?
It's critical to recognize Shiba Inu's outstanding start. However, because the platform is new, all investments are now speculative. Now Shiba Inu (SHIB) goal is to seize this momentum and channel it into future ecosystem expansion.