Shiba Inu was the most popular crypto asset in 2021, with 43 million more views than Bitcoin. The furry little dog was the alpha among the dog theme cryptos, and its popularity is easy to understand – it has much bark and bites.
Shiba Inu became famous in 2021 because it offered something that Bitcoin couldn’t – faster transactions and lower fees, and this made it an attractive choice for investors and traders looking for alternatives to Bitcoin.
Although Shiba Inu is no longer the most popular crypto asset, it remains a viable option for those looking for a fast and affordable way to send and receive payments. Shiba Inu is perfect for everyday use thanks to its low fees and secured transactions. So if you’re looking for a crypto that can beat Bitcoin, Shiba Inu is your best bet.
Shiba Inu is a cryptocurrency that was created in 2020. It is based on the blockchain database, which tracks and manages transactions. Shiba Inu calls itself a “Dogecoin killer,” as it is intended to be a better alternative to Dogecoin. Shiba Inu is available for purchase on various online exchanges, and it can be used to purchase goods and services online or transferred to other users.
Like other cryptocurrencies, Shiba Inu is not regulated by any government or financial institution, and it is a decentralized currency not tied to any specific country or region, making it attractive to investors and users around the world.
There are a few things that you must know about Shiba Inu.
Shiba Inu is a token, not a coin.
This means it doesn’t have its blockchain but relies on an existing blockchain to function. Tokens are often used to represent different assets or rights and can be used in various ways. For example, they can be used to describe ownership of a product or service or as a way to raise money for a new venture.
Dogecoin killer
Many people have proclaimed Shiba Inu to be the Dogecoin killer, and it certainly seems to be a contender. SHIB is an Ethereum-based token with innovative contract capabilities, making it a viable alternative to Dogecoin.
Dogecoin is limited in on-chain features such as smart contracts, while SHIB can do all of that and more. So far, Shiba Inu has been the only one to challenge Dogecoin, but it’s still early days. It will be interesting to see how this rivalry plays out.
Multi-token ecosystem
The Shiba Inu ecosystem is a multi-token ecosystem that consists of three tokens: SHIB, LEASH, and BONE. The SHIB token is the most significant component of the Shiba Inu ecosystem. The LEASH token binds and controls the SHIB token, while the BONE token stores value within the ecosystem. The SHIB token is used to access and use the services provided by the ecosystem, while the LEASH and BONE tokens are used to reward contributors to the ecosystem.
Supports specific Defi products
Shiba Inu is a cryptocurrency that supports specific Defi products. This means that users can lend and stake their Shiba Inu, earning passive income in the form of recurring fees. Shiba Inu also offers a voting system that allows users to vote on different Defi products, ensuring that the best products are chosen and supported by the community. Shiba Inu is, therefore, an ideal cryptocurrency for those looking to get involved in Defi products. It offers users a way to earn passive income while also giving them a voice in the community.
Elon Musk-driven
When it comes to Elon Musk, his words hold much weight. So when he tweets about a cryptocurrency, that’s a big deal. And it looks like he’s a big fan of Shiba Inu.
Elon Musk once tweeted about getting a Shiba Inu dog, and his tweet gave the first considerable stimulus to the SHIB token. After his tweet, Shiba Inu jumped up by close to 300%.
Shiba Inu is one of the few cryptocurrencies that have the support of Elon Musk. And that’s a major plus for any currency. Because when Musk endorses something, people listen.
Utility-driven ecosystem
The Shiba Inu (SHIB) ecosystem is driven by utility, not hype or sentiment. Despite popular belief, there are several practical applications supported by the SHIB blockchain, including NFTs and a Defi-platform.
How is Shiba Inu used?
The Shiba Inu, designed initially as a digital currency, has launched its decentralized crypto exchange to build up the ecosystem. Here are some of its current uses:
Digital currency
Shiba Inu is a digital currency that can be used for peer-to-peer payments or as a payment method with businesses that accept it. However, it is not a competition with other cryptocurrencies in this regard, and it’s not widely accepted as a payment method. Some people view Shiba Inu as an investment opportunity because its value may increase in the future.
Decentralized cryptocurrency exchange
Since its launch, ShibaSwap has been growing in popularity. In May of this year, it was announced that the exchange had processed over $1 million in transactions. This may not seem like a lot compared to some larger businesses, but it’s a significant achievement for a DEX.
NFTs
ShibaSwap is an innovative platform that specializes in NFTs or Non-Fungible Tokens. Their unique tokenized assets are called Shiboshis– pixelated cartoons of Shiba Inu dogs with their trait differences! Plus, the team behind this project has created a game where you can play as one of these adorable cartoon characters called “Shibas.”
Conclusion
Let’s conclude with knowing about one of the most professional cryptos and credit card processing solutions, Kryptova.
Kryptova is a one-stop crypto and credit card processing shop for high-risk merchant accounts. They offer various services to help businesses of all sizes get up and running quickly and easily. Kryptova has years of experience assisting companies to process payments, and they are dedicated to providing excellent customer service.
