What's the hottest coin of the moment in this massive bull market? Bitcoin? Ethereum? Ripple (XRP)? Litecoin?! Nope.
Oh wait... it's that silly Dogecoin isn't it?
Still, nope.
It's actually bit more ridiculous than that - it's Shiba Inu coin (which is also the name of Doge's breed.
Dogecoin's 462% 14 day gain was impressive, but less-so after seeing Shiba Imu's 3643% explosion...
The creators are just as surprised as anyone, calling it a "Decentralized Meme Token that grew into a vibrant ecosystem" - but they're not taking the success lying down as they continue to expand and push for more growth.
SHIB now hopes to become an artist incubator and a fun, less up-tight crypto community, of which they already have 54,000 members.
The Dodgecoin KILLER?
Here's where it gets interesting - the tokenomics are well... impressive.
First off, there's no team/founder tokens. The creator and team bought their tokens on the market just like you would have to.
Liquidity put into Uniswap can't be pulled (at least they claim) they've thrown away the keys, making it impossible to touch.
If this wasn't sounding ridiculous enough, don't worry we're still discussing a meme coin. When you hear they've burned 75% of the Shiba token supply by sending them to Ethereum's creator Vitalik, you're reminded this shouldn't be taken too seriously.
The anonymous founder, who goes by 'Ryoshi' explains:
"We are an experiment in decentralized spontaneous community building. The team and admin are all volunteers here and have had to market buy the tokens the same as everybody else, so there is no bucket of tokens or funds to pay to anybody or anything. If you wish to help the project you certainly can and work with us to find a way to make your efforts the most valuable. We believe through the power of collective decentralization we can build something stronger than a centralized team ever could create. ALL HAIL THE SHIBA"
However, Vitalk now has more wealth in SHIB than ETH...
Worthless when he first received them, the current bull run SHIB is having has made it Vitalik's most valuable asset, for now. See his holdings here.
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| Vitalik's Shiba wealth, larger than his ETH holdings. |
While I could never recommend this on any serious level, mostly because I imagine both Shiba and Dogecoin will come crashing down 10x faster than their rise. I will say - it's a fun coin to own, and for the last few days waking up to see actual profits has me starting my day a laugh.
At less then a penny $25 will make you a Shiba millionaire t the time of writing it's trading at $0.0000019. I got in at $0.00000002, and became a Shiba billionaire, joining the rest of the token holders in daily wishes of 'please let this become worth 1 cent'.
SHIB trades exclusively on Uniswap.
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Author: Mark Pippen
London News Desk / Breaking Crypto News
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