Chiba Inu Searches for an Ethereum-based Dogecoin
coin market cap shiba as Chiba Inu Searches for an Ethereum-based Dogecoin
- As of today, there are over 350 billion SHIB tokens in circulation, with more than 300 million more SHIB being issued daily on the Ethereum blockchain. While that may seem like a lot, it’s still only about 1/6th of the total DOGE supply.
- Dogecoin has also been around longer than SHIB, so it’s still the more popular alternative to Bitcoin (BTC). Still, many investors are looking to SHIB as an investment option with potential future growth similar to the tremendous rise in value that DOGE experienced over the past year or so.
On April Fool's Day, there was a joke on Google Trends
shibaswap is trending in [the user's location]. Shibaswap is a cryptocurrency that has generated buzz in crypto circles and beyond. Its proponents believe it could be an alternative to one of crypto's top assets, Dogecoin (DOGE).
The joke on Google Trends appears to reference shibaswap 's relatively low market cap value, currently standing at around $91 million. That compares with DOGE's $404 million market cap. Google searches for shibaswap have also been rising since April 1, indicating some people might not find it so funny after all...
Shiba mining refers to mining other cryptocurrencies like Bitcoin or Ethereum using graphics cards meant for gaming. It became popular when GPU prices skyrocketed last year due to demand from cryptocurrency miners. Shiba inu coin is a meme based on Japanese dog breed Shiba Inus . A dogecoin (DOGE) was created by combining a Shiba Inu dog image with wow text in Comic Sans font, which then quickly became popular on Reddit and other social media platforms.
Both Shiba mining and shibaswap are thought to be referring to both cryptocurrency markets being driven by hype rather than actual utility. Chiba is another name for doge.
As you can see above, searching for chiba inu instead of dogecoin produced more search results than if you searched just for dogecoin. This implies there may be room in future memes that combine two different words but still retain a humorous tone.
On April 2nd, there was an increase in the shibetoshi's price
Shibaswap binance Shibaoin exchange users were unable to make trades on April 2nd and were told by a Binance official that a wallet maintenance was occurring. After a few hours, trading resumed and Shibaswap went up 8% and Shibaoin went down 5%. The next day, shibes became suspicious that their coin was added to Binance in an attempt to pump it.
An announcement later confirmed their suspicion: The reason why we did it is because there are many meme coins already. We want to add some more serious and real applications. We will not list all memes, but only real applications. Shibaswap has a lot of potentials so we decided to add it first.
(translation) While shibes may be upset about losing out on free money, they can at least take solace in knowing that they now have one more option when looking for alternative investments.
For those who don't know, Shibaswap is similar to DOGE except that it's based on Ethereum instead of Litecoin. It also uses smart contracts like ETH and pays its miners with transaction fees instead of block rewards. There's even a shibetoshi/ETH pair on shibabay .
What does all of this mean? Well, if you're interested in investing in cryptocurrencies then you might consider getting involved with ShibeSwap before DOGE gets too much bigger than them!
Shiba Inu Searches for an Ethereum-based Dogecoin
- Very little about the cryptocurrency world can be considered normal or predictable, but that’s especially true with altcoins—alternative cryptocurrencies to Bitcoin, like Litecoin, Dogecoin, and even a newer arrival called Shiba Inu Coin (SIC).
- These coins have different names, different features, and different underlying technologies—but they do have one thing in common: the fact that they exist at all should tell you something about how seriously you should take them as investing opportunities.
#1) Why do crypto wallet matter?
Bitcoins are flying higher and higher as more people accept them as a digital form of payment. There’s only one problem: Bitcoin has a big issue with scalability, with many critics saying that it won’t be able to continue growing at its current pace without dramatically altering its core principles.
While some cryptocurrencies have sought to solve these problems by embracing some centralization, most cryptocurrency enthusiasts seem to agree that decentralization is key to a long-term existence in cryptocurrency market. And then there’s Shibaswap (or Shiba Coin).
This ethereum project seeks to integrate both blockchain technology and shibas into one cohesive product by creating something called ShibeCoin.
It’s basically a token designed specifically for shibes—the adorable dogs often seen on Twitter or Reddit. But don’t let their cuteness fool you: Shibes are powerful creatures, so much so that they could potentially play a huge role in shaping how we interact with cryptocurrency moving forward.
As such, investors should pay close attention to how ShibeCoin performs over time. If it succeeds, we could see other coins follow suit—and even mainstream adoption of crypto become much easier than ever before.
#2) The history of Shibes and Dogecoins
Over two years ago, bitcoin wunderkind Vitalik Buterin launched a brilliant decentralized blockchain network – now known as Ethereum. As of yet, however, one thing has been missing: dogs. The Shibes have had to content themselves with just an overly aggressive mascot and worthless ERC20 tokens (technically speaking). But all that’s about to change thanks to Shiba mining.
What is Shiba mining? I am glad you asked! The word mining comes from Satoshi Nakamoto who, in his seminal paper Bitcoin: A Peer-to-Peer Electronic Cash System , introduced us to how cryptocurrency is created. While you may not be familiar with crypto, there are some key similarities between it and our old friend Scrabble .
You see Scrabble players try to spell words by picking letters from a shared pool; in crypto we try to create coins by solving mathematical puzzles.
#3) How does shibecoin work?
The Shibaswap Binance is what many cryptocurrency and dogecoin experts have been predicting for months. Finally, shibas are getting their own version of cryptocurrency. According to a recent announcement from Binance, The exchange is set to offer high performance blockchain tokens in a shibecoin token offering.
What does it mean? Shibaswap is what happens when a crypto company decides to make an exception and allow shibas into their system after all. Shibe owners will be able to cash out quickly by swapping their assets with other digital currency companies. Then they can take their funds and invest in another dogetoken on another platform like Binance which offers higher interest rates than CryptoKitties, who charges 17% annual fees in DogCoins per year!
#4) What would owning a dogecoin do for me?
It would turn you into a shiba! If you’re going to own a dogecoin, then you might as well have doges every day. Check out Shiba Mining if you want to dig up some shibes while also getting paid in ether (the native cryptocurrency of Ethereum).
And yes, since there is no regulatory body managing Shibes, they are totally shibe by nature. Use all that ether to fund your first ICO. As a side note, it seems like most people who use Shiba Mining don’t actually get any Ether; however, if you follow their directions and set up your mining rig correctly (by downloading Geth), then it should work.
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