Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

76.5% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

Shiba Inu: more than just hype, isn’t it?

Shiba Inu: more than just hype, isn’t it?

Information is not investment advice

Some cryptocurrencies, like Bitcoin or Ethereum, are useful and bring real value to the world. Others, like Litecoin or Binance coin, are used to develop technologies faster or to be used as native exchange tokens. But we won’t talk about them today. There is a whole world of cryptocurrencies, that was created as a joke and our subject today is one of them. Give it up for Shiba Inu, or just SHIB!

Shiba story

It all started in 2013. After Bitcoin was created, dozens of other projects tried to get a piece of cake and offered various technologies and solutions in everlasting attempts to become famous. But among them, there was a Dogecoin. You probably know about DOGE. This meme coin was created as a joke, just to make fun of Bitcoin and cryptocurrency fans. But the day of the DOGE had come suddenly when Elon Musk started to advertise it relentlessly. In less than a year Dogecoin market capitalization reached $81 billion.

Dogecoin has initiated a weird but interesting trend on animal coins.

First, there's Nyancoin, which represents the world-famous Nyan Cat meme.

Nyan cat.jpg

Second, Pandacoin, that was created in China and launched on Valentine's Day - February 14.

Panda.jpg

 And our today’s hero: Shiba Inu coin.

Shib.jpg

What is Shiba coin?

Launched in August 2020 by an anonymous person going by the name Ryoshi, Shiba Inu was a challenge to Dogecoin from the very beginning. Its mascot — the coin’s namesake breed of Japanese dog — is also the mascot of Dogecoin, which itself was started as a joke based on a viral canine Internet meme.

imgonline-com-ua-Resize-XQlY0HWUuuGsmk.jpg

Like so many other cryptocurrencies, Shiba Inu is based on the Ethereum blockchain. Ryoshi started with a supply of 1 quadrillion tokens — that’s 1,000 raised to the power of five. Ryoshi then locked half of the tokens in a decentralized finance protocol called Uniswap and “burned” the other half, worth $1 billion, to Ethereum co-founder Vitalik Buterin for safekeeping. Buterin then donated trillions of Shiba Inu coins to India to help stem the spread of COVID-19 — it was history’s largest cryptocurrency donation — before “burning” 40% of the total supply to a “dead wallet.”

Unlike Bitcoin, which is currently trading at around $59 000 per coin (as of November 18, 2021), Shiba Inu goes much cheaper — about $0.00004500 per token. The logic is that cheaper coins draw wider audiences. Dogecoin, by comparison, is trading at a much more expensive 23 cents.

There are a couple more coins in the Shiba ecosystem: LEASH, which issuance is limited to 107 646 tokens, and BONE, which has 250,000,000 tokens, and “is designed to fit perfectly between the previous two tokens regarding circulation supply” (as stated by Ryoshi).

What to be expected from the Shiba?

Now the price is having a rest after another 200% bullish wave, but 0.00004000 and 0.00003500 levels may become pivotal. Descending triangle has formed. In case of breakout we can expect a 7-15% bearish wave.

SHIB/USDT daily chart

Support: 0.00004000, 0.00003600

Resistance: 0.00004670, 0.00005600

SHBUSD.ccDaily.png

After all, why not? Shiba has a chance to have the same fate as dogecoin. With universal recognition and an extremely bullish crypto market (from time to time), SHIB might be the next candidate for the “to the moon” flight. But be aware, SHIB is a meme coin! It doesn’t do anything useful or serves some common sense. Understand the risks and be careful with such investments. Yet the reward can be unbelievable. Dogecoin has gained %110 000 in less than a year, why can’t Shiba do the same?

Don't know how to trade crypto? Here are some simple steps.

  1. First of all, be sure you’ve downloaded the FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open an account in FBS Trader or the MT5 account in your personal area.
  3. Log in!

Similar

Bitcoin Skyrockets Ahead of ETH Merge and US CPI Release

First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.

Popular

It’s Time to Look at New Zealand

Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.

Choose your payment system

Feel the Team Spirit

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later