What is Shiba Inu (SHIB)?

he current craze right now is clearly Layer 2 scaling technology. Everyone in crypto is currently glued to Arbitrum and Optimism.

My question to you is, have you heard of Shibarium?

If you haven’t, it’s now time to explore the Shiba Inu ecosystem.

Shiba Inu was first launched in 2020 as a memecoin on the Ethereum network by an anonymous person/group called Ryoshi. Swiftly after the launch of SHIB, it was officially titled “The DOGE Killer”.

Initially, Shiba Inu was an experiment to see what would happen if the ENTIRE community ran the protocol. Clearly, it works.

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The Shiba Tokens

If you didn’t know already, there are THREE tokens within the Shiba Ecosystem.

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SHIB Token

This is the native token powering the entire ecosystem. SHIB is the second largest memecoin by market cap and has become one of the most held tokens in the entirety of crypto!

BONE Token

The Governance token and the foundational token of Shibarium is BONE. Anyone in the Shib Army can use BONE to vote on any future proposals and was used to create the ultimate Layer 2 network, the Shibarium.

LEASH Token

Providing the ultimate “Perk” Token for loyal users who provide liquidity etc. Users will gain access to perks such as extra rewards and exclusive early access to mint Shiboshi NFTs as well as the upcoming land sale within the Shib Metaverse.

Shiba Inu Ecosystem

There are currently over 1.6+ Million users in the Shib Army that are exploring the almighty Shiba Inu ecosystem. Let’s take a look for ourselves:

ShibaSwap

ShibaSwap is the Decentralised Exchange (DEX) that provides its community with the necessary DeFi products that can produce dog-drooling rewards. The DEX offers:

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Swap

What would a decentralised exchange be without the ability to swap tokens? ShibaSwap allows you to swap any assets on the Ethereum network, providing that there is liquidity in the pool.

NFTs

Buy, Sell and Trade the unique collection of 10K Shiboshi’s. More on the Shiboshi NFT collection can be found further down in this article.

Burying (Staking)

Burying bones in the ground, also known as staking grants you the ability to earn rewards! You can bury/stake any of the tokens within the Shiba Inu Ecosystem, such as SHIB, BONE & LEASH.

If you’re going to be holding long-term, you may as well generate some juicy rewards while you wait.

Digging (Providing Liquidity)

Dogs who dig up the BONEs in the ground will be heavily rewarded. Digging is also known as providing liquidity on the ShibaSwap DEX. You can create new LP pairs or add liquidity to existing pools. Every dog that digs will be rewarded for doing so.

Doggy DAO

The Doggy DAO is the Governance of ShibaSwap. Users of the DAO must own the tBONE token in order to vote on Liquidity Pool Pairs that should be listed. I must say, I do love a good tBONE steak.

ShibaSwap has swiftly grown to become one of the largest and leading decentralised exchanges, but it is not the only product that is shaking heads within the ecosystem. Let me introduce you to the upcoming metaverse.

Shib The Metaverse

Soon, there will be a time for the Shib Army to unite in the Metaverse. Embark on a journey that allows you to fully explore, create, socialise, trade, play, earn and so much more! It’s not out yet, but LAND is obtainable for a minimum of 0.2 ETH.

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Shiba Inu NFT Collection

Are you one of the 10,000 Shiboshis? The Shiboshi NFT Collection is home to the Ethereum network. Soon, Shiboshis will have their own blockchain, but for now, enjoy the art.

Each Shiboshi NFT has a different variety of traits and each user is promised exclusive upcoming utilities for those who hold an NFT. If you are interested in holding a Shiboshi NFT, you can browse through Opensea!

Shibarium

Last but not least, Shibarium. Shibarium is a Layer 2 blockchain that will scale Ethereum and the Shiba ecosystem to surreal heights. Shibarium spent a long time in the beta stages and was recently launched, twice due to complications. Now, Shibarium is finding its feet amongst the most popular Ethereum Layer 2 networks.

I can imagine so many protocols and popular dApps will be joining the Shibarium network! Shiba Inu has one of the largest communities in the entire crypto space, also known as the Shib Army.

Do you think that Shibarium will become a leading Layer 2 network?

If it does, expect the entire ecosystem of tokens to pump to a new level of high!

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Shiba Eternity

This is a FREE-TO-PLAY collectable card game that is available on both Android and iOS. There are over 500 unique cards to collect and 10K different Shiboshi heroes (Based on the NFT collection).

If this sounds like your kind of mobile game, then head over to your mobile App Store and download Shiba Eternity for free!

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How To Buy SHIB

The SHIB token is available only on the Ethereum blockchain and is on 99% of major centralised exchanges.

There are two main ways to buy SHIB, but you will always go through a centralised exchange (CEX). Here are the options:

Option 1- Centralised Exchange

We recommend using one of these centralised exchanges when buying or trading the $SHIB token. Here is a list of CEXs with a few delicious promotions:

Binance - The most popular CEX in the world
ByBit - EARN UP TO $30K in DEPOSIT BONUSES
BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
Coinbase - Spend $100 and Get $10 back!

Option 2 - DeFi Wallet & Decentralised Exchange

To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):

If you are buying SHIB through your DeFi wallet, we recommend using the Metamask wallet. If you haven’t set up Metamask and the Ethereum network, you can follow our YouTube tutorials down below. Here are the essential links:

Conclusion

At the time of writing, the native token SHIB is sitting at a price of $0.00001083 with a large market cap of $6.38B. Shiba Inu has exceeded the expectations of many investors and prominent figures and is the 13th largest crypto by market cap.

SHIB is around 8x away from its ATH and with the launch of Shibarium, it is entirely possible to surpass its previous all-time high. Could SHIB finally kill the leading memecoin, Dogecoin DOGE?