(Newswire.net — March 27, 2022) — Shiba Inu is a Japanese breed of dog that originated in the former Shimofuri province. The Japan Kennel Club says it’s one of the most popular breeds. It’s been around for over 2,000 years. A cryptocurrency coin also goes by the name.
Shiba Inu (SHIB) started off as a meme joke, a Dogecoin killer, but it has grown into a valuable part of the digital economy. It may even become the coin to watch this year because of how much value it rose last year, attracting more attention than both Bitcoin and Etherium.
Although this cryptocurrency was created as a mocking response to the over commercialization of Dogecoin, it now wants to create a blockchain technology called Shibarium.
Why SHIB is a Serious Player in Cryptocurrency Space
According to 2021 statistics, SHIB was a huge hit among cryptocurrencies. Its low price, high security, and fast transaction times made it a popular choice.
Currently, Shiba Inu’s digital coin is listed as number 13 in the market, and its cryptocurrency price is approximately $0.000032. Currently, the price of this cryptocurrency is at a market cap of $13.64B, making it one of the most valuable digital assets.
Last year, it ranked among the largest crypto on earth and received more views than Bitcoin. SHIB, the meme coin designed to poke fun of Dogecoin, received 188 million views in comparison to Bitcoin’s 145 million views.
SHIB and Gas Prices
A gas fee is paid to validate any crypto ecosystem transactions in a crypto ecosystem. It was originally meant to prevent spam on the network but has now become a huge problem for the blockchain. It may seem odd to charge a gas fee, but it is necessary to activate any function or send a transaction on Ethereum because bubbles, spikes, and waves form in the market as more investors pile in.
The Ethereum blockchain is the world’s second most popular cryptocurrency after Bitcoin. This decentralized, global blockchain-based platform lets people build and run distributed applications. Its purpose is to serve as a foundation for future technologies and make the interactions of these systems more efficient.
Shibarium is a token that runs on the Ethereum platform. It can be earned by seeding and staking Shiba Inu’s network, which supports smart contracts on the platform.
The crypto coin is set to revolutionize the way people think about gas prices. With their innovative technology, they intend to lower gas costs for their customers.
Ryoshi’s Dreams for Shiba Inu
Ryoshi, the founder of Shiba Inu, is looking to create a blockchain-based stable coin that can be used for paying for goods and services, investing, or holding for future gains. It would charge transaction fees on the blockchain through its own proprietary token and run a gas fee on its site.
According to him, his digital coin provides a decentralized solution for investors to trade and invest and could be a significant digital coin in the blockchain world. Ryoshi wrote in a recent article on Medium that a blockchain team has volunteered to decentralize the Shiba Inu ecosystem.