What is Shiba Inu (SHIB)? How Does it Work?

Shiba Inu (SHIB) is a popular meme coin project developed by an anonymous individual or group using the pseudonym Ryoshi. It takes its name from the Shiba Inu breed of dog, which originates from Japan.

How Does Shiba Inu (SHIB) Work?

Shiba Inu (SHIB), a dog-themed cryptocurrency created as a rival to the popular Dogecoin, was launched in August 2020 as an ERC-20 smart contract on the Ethereum blockchain, with 1 quadrillion SHIB tokens created. Half of the total supply was transferred to a liquidity pool on the Uniswap exchange platform, while the other half was transferred to the Ethereum wallet of Ethereum’s founder, Vitalik Buterin.

After transferring approximately $1.4 billion worth of SHIB assets from his wallet to the India Covid19 Relief Fund, Vitalik Buterin transferred 40% of it to an irretrievable wallet.

The technical document of Shiba Inu is called WoofPaper. The document states that the inception of the Shiba Inu project was based on the question, ‘What if a cryptocurrency project was 100% community-run?’

How to Store Shiba Inu (SHIB)?

Shiba Inu (SHIB) can be stored in any wallet that supports ERC-20 based Ethereum assets. To store SHIB coins, you can use Ethereum-compatible browser, desktop, mobile, or hardware wallets.

How to Buy and Sell Shiba Inu (SHIB)?

To buy and sell Shiba Inu (SHIB), you can use the BtcTurk | Global website. If you are not a member of BtcTurk | Global, you can sign up immediately on our website and purchase Shiba Inu (SHIB).