In the morning, Shiba Inu was #40 by market capitalization. When I’m writing this article, the token is #17. At the time we are going to publish it, the place is [insert one-digit number here].
Thus, our team unanimously agreed that we live in the simulation and this event is just an error in a matrix.
Do you remember our article about copydogs? If not, check it here. In brief, we covered the best fruits of doge’s loins. And frankly speaking, Shiba Inu seemed the most featureless among them. So much that I even didn’t include it in the list. I take it back!
Shiba Inu is an Ethereum based cryptocurrency token. The developers created their own ShibaSwap platform planning to have a Defi ecosystem with three tokens: Shiba Inu (SHIB), Leash (LEASH), and Bone (BONE).
Why so many? Let’s count! SHIB was listed on Uniswap. The other two are native only to the ShibaSwap platform. BONEs can be “dig” when you stack your SHIBs on ShibaSwap. LEASH is a stablecoin pegged to a Dogecoin.
Do you feel headache defining what is what? Congratulations, now you understand why nobody cared about the coin. Until one fateful day…
Elon Musk’s appearance on SNL was on high rotation in all the crypto media and socials. Everyone predicted either boom up or crash down for DOGE. However, nobody expected that Shiba Inu would inherit the scepter.
On the one hand, the meme guild always wants bread and circuses. On the other one, anonymous developers sent half of the supply to Vitalik Buterin in order to remove them from circulation. This made him the biggest whale of the crypto. This was mentioned in their official whitepaper. Furthermore, in terms of the current situation, this added $8 billion to Buterin’s bank account.
Nobody knows, actually. The situation shows how unpredictable the crypto world is. That’s why it’s interesting. Although, it’s not for everyone, as we covered in this article.
And sometimes it’s hilarious, too 😊