This is the pricing chart for SHIB. A price chart displays the price of a certain market over time. On every charting platform, you may pick several time frames. There are 1-minute charts, 1-hour graphs, and monthly and annual charts.

Shiba Inu (SHIB) Price Chart

In trading, charts are widely employed. They assist traders in monitoring the worth of their existing assets as well as the price's historical movement and prospective direction. The route to becoming a trader includes the ability to interpret price charts; therefore, this skill is vital.

The first thing to have in mind is that pricing relates to the relationship between prices and time. The candlestick chart, one of the most widespread chart types, enables straightforward price analysis.

The element of time in a price chart is seen along the x-axis (left to right). When we look to the left, we have an insight into the past values. 

The top of price charts typically has an option that enables you to choose what one unit of time reflects. If we set the timeframe to daily, every candle will present a price change in a day. 

The price of an instrument can be seen on the vertical axis. The current market price can be seen on the height of a candle bar.

What is exactly Shiba Inu (SHIB)?

Shiba Inu (SHIB) is an Ethereum-based meme coin that has the Shiba Inu, a Japanese hunting dog breed, as its mascot. Shiba Inu is commonly viewed as an alternative to Dogecoin; in fact, its supporters refer to it as "the Dogecoin killer."

Meme coins are cryptocurrencies that are often created as a parody or inside joke rather than as a digital commodity with genuine utility. Shiba Inu and Dogecoin are among the most famous meme coins. While Dogecoin was introduced in December 2013, Shiba Inu was created by an anonymous individual or group named Ryoshi in August 2020.

Shiba Inu's white paper (also known as a "woofpaper") describes it as a community-based cryptocurrency project. This effectively implies that the "ShibArmy," a decentralized community of Shiba Inus, is in charge of the coin and its development.

This is not unprecedented in the field of crypto. Even though Shiba Inu's white paper describes it as a breakthrough concept, it is essentially identical to what other decentralized cryptocurrency initiatives have already implemented.

Shiba Inu history 

The original total quantity of Shiba Inu tokens was one quadrillion, and the cryptocurrency was launched in August of 2020. The first significant event in the history of Shiba Inu took place in May 2021, when the founders sent half of the available supply to Vitalik Buterin (a co-founder of Ethereum). It was commonly believed that this was a publicity stunt designed to capitalize on the popularity of a more famous cryptocurrency. 

Buterin ultimately decided to destroy the remaining 90% of the tokens by burning them, giving away the remaining 10% as a donation. Because of this, the total amount of Shiba Inu tokens that are now available on the market is around 549 trillion.

In July 2021, Shiba Inu initiated the creation of its very own decentralized exchange known as ShibaSwap. It entered into a partnership with David Folk, formerly the vice president of technology at Activision, in November to build a crypto game project.

Who are the founders of Shiba Inu?

Ryoshi is known as the creator of Shiba Inu, but little more is known about the enigmatic cryptocurrency developer. Like Bitcoin's founder, Satoshi Nakamoto, he chose to remain anonymous. For that reason, Ryoshi's identity is currently unknown and is intended to remain so for the foreseeable future.

Ryoshi published a now-deleted blog where he claimed that he is insignificant and a nobody. Even if his "identity" could be revealed, the effort would be futile. He added that he is only a guy banging at a keyboard, and he is easily replaceable.

According to Ryoshi, SHIB is a community-owned, decentralized token that is pure. Additionally, the inventor acknowledged that he is not a SHIB millionaire and he owns 0 Shiba Inu coins. That was an honorable act and he wasn't occupied with price volatility and profit margins. Shiba Inu's net worth is unknown, however, it was valued at $45 billion in 2021.

Shib has garnered support from several tech luminaries, including Elon Musk and Ethereum founder Vitalik Buterin, because of its low entry price barrier.

How does Shiba Inu work?

Since Shiba Inu is an ERC-20 token based on Ethereum, it is generated and hosted on the Ethereum blockchain, as opposed to its own blockchain. If you want to support the Ethereum blockchain, you can buy Ethereum coins at CEX.IO. In his article, Ryoshi explains that he decided to construct the Shiba Inu ecosystem on Ethereum since the platform was already safe and well-established, allowing the project to remain decentralized.

The Shiba Inu ecosystem comprises the three tokens listed below:

Shiba Inu (SHIB): This is the core currency of the project. Beginning with a supply of 1 quadrillion (equal to 1,000 trillion), Ryoshi placed 50 percent in Uniswap (for liquidity purposes) and transferred the remaining 50 percent to Ethereum co-founder Vitalik Buterin for safekeeping. In May 2021, Buterin donated over 50 trillion Shiba Inu coins, worth over $1 billion at the time, to a COVID-19 relief fund in India. Shortly thereafter, Buterin "burned," or permanently removed from circulation, 40 percent of Shiba Inu's entire supply to a wallet known as a "dead wallet."

Leash (LEASH): The second token in the Shiba Inu ecosystem, Leash symbolizes the other end of the ecosystem's spectrum, with a total supply of just 107,646 tokens in contrast to the trillions of Shiba Inu tokens.

Bone (BONE): Bone falls between the other two tokens in terms of supply, with a total of 250,000,000 tokens in circulation. It is intended to be a governance token that enables the SHIBArmy to vote on forthcoming proposals.

In addition, the Shiba Inu Ecosystem includes:

ShibaSwap: The objective of the DeFi platform ShibaSwap is to create a secure environment for decentralized cryptocurrency trading. SHIB and LEASH are most effectively bought and sold on ShibaSwap.

Shiba Inu Incubator: The incubator seeks to move the emphasis away from popular art forms such as painting, photography, and computer depiction and to find ways to recognize creativity and inventiveness.

Shiboshis: Shiboshis are 10,000 non-fungible tokens (NFTs) made by Shiba Inus and published on the Ethereum blockchain. Each Shiboshi has unique and collectible characteristics.

Current Shiba Inu (SHIB) price index

When comparing the charts of SHIB to those of Bitcoin, Ethereum, and Dogecoin, the similarities are striking.

During the decrease in cryptocurrency values in 2022, global unrest and the Luna crypto meltdown were some of the influencing factors. The de-pegging of UST and Luna's 99 percent decline caused the entire market to tumble severely at the same moment. SHIB dropped 40% of its value between May 6 and May 13, 2022, falling from $0.00002 to $0.0000116 in a week.

SHIB's stock price gained a zero for the first time in a while in mid-June, after a subsequent drop.

The major expansion of SHIB began in October 2021. It rose from $0.000007 at the beginning of October due to many fresh listings and the broader crypto bull run to a peak of $0.000086 in less than a month.

You can see the actual value of SHIB, as well as any changes, at current cryptocurrency prices. 

How to buy Shiba Inu in a short time?

With a smartphone or computer, an internet connection, a photo ID, and a means of payment, the entire process may be finished in as little as 15 minutes.

- Compare cryptocurrency exchanges

Through a cryptocurrency exchange, buying Shiba Inu is the most practical option. You could choose a service with the needed qualities using the comparison table, such as reasonable prices, ease of use, or round-the-clock customer service.

- Open an account

You need to verify your identity and email address so you can open an account on an exchange. Get your phone and picture ID prepared.

- Make a deposit

Once your identity has been verified, you may deposit money using whichever method suits you the most, including wire transfers, PayPal, cryptocurrency, and credit cards.

- Purchase SHIB

You may now exchange your money for Shiba Inu. On simpler exchanges, all you have to do is enter the desired purchase amount and click the buy button. If you'd like, you can keep your crypto in the CEX.IO Wallet, sell it, or exchange it for other crypto or fiat currencies.

The simplest approach to buy Shiba Inu is by using CEX.IO "instant buy" option.

Where to buy Shiba Inu and other tokens?

The best place to purchase digital assets is on a cryptocurrency exchange. Bitcoin trading platform like CEX.IO is an outstanding example of trustworthy exchanges. A PCI DSS level 1 certificate protects the users. Moreover, the platform has been shown to have a high level of security for storing, processing, and transferring credit card payments so you can safely buy bitcoin with a credit card.

Here, at CEX.IO you can also buy BNB, as well as trade BTC toUSD and sell BTC.

Shiba Inu (SHIB) price history over time

In 2021, SHIB has been one of the most volatile cryptocurrencies. It began on May 11, when the price of SHIB increased 1,953 percent to $0.00003532 from $0.00000172, before plummeting to $0.00000793 within three weeks.

After months of trading sideways, SHIB jumped significantly from $0.00000766 on October 2, 2021, to $0.00002913 on October 13, 2021. Two weeks later, on October 28, SHIB reached its all-time high of $0.000089, however, the market has since corrected.

The market momentum impacting Shiba Inu is primarily attributable to Elon Musk, CEO of Tesla, who was also responsible for dogecoin's enormous price increase. Musk's fascination with dogecoin generates market excitement for SHIB. Musk even bought a Shiba Inu puppy, dubbed Floki Frunkpuppy, causing another market rise.

FAQ:

How to sell SHIB on CEX.IO?

To sell your crypto instantly, download the CEX.IO mobile app and follow these steps: 

• Go to the Buy/Sell menu and select Sell to sell your cryptocurrency.
• Choose the fiat currency you want to receive and the cryptocurrency you want to sell.
• Select an available pack or enter the desired selling price.
• Decide where you wish to transfer the money you make.
• Finally, verify everything and click Continue to verify the sale.

Where can I store SHIB that I bought on CEX.IO?

Keeping your crypto secure is crucial after the purchase. Even though the CEX.IO account is safe enough, opting for a crypto wallet may be a better alternative. The CEX.IO Wallet doesn’t only store your coins for you but also enables you to manage and monitor your portfolio. 

What makes Shiba Inu unique?

Although the Shiba Inu was known as an alternative to Dogecoin, it has a significant difference. Shiba Inu is built on Ethereum so it can run smart contracts and work with decentralized applications. The ShibaSwap platform also offers a non-fungible token (NFT) market. His NFTs are called Shiboshis, which are pixelated images of Shiba Inu dogs with unique characteristics. In addition, the Shiba Inu team is developing a Shiboshi game that will feature these characters.