Shiba Inu (SHIB) is a meme coin that is sometimes pitched as a "Dogecoin (CRYPTO: DOGE) killer." The token is the fifteenth largest coin by market cap, according to CoinMarketCap data.
SHIB, an Ethereum (CRYPTO: ETH)-based project, was created anonymously by a person or persons who call themselves Ryoshi. The coin came to the fore in August 2020 and was listed by a number of major cryptocurrency exchanges in the following year.
On May 10, 2021, SHIB was listed by Binance. On the same day, FTX founder and CEO Sam Bankman-Fried announced SHIB deposits and withdrawals were open.
New #Binance listing: $SHIB @Shibtoken is an experiment in decentralized community building and another meme coin similar to $DOGE.
— Binance (@binance) May 10, 2021
Learn more https://t.co/GUFENq3ncQ
AFAIK, @FTX_Official is the only major CEX with deposits and withdrawals open for SHIB!https://t.co/qNxA8VInXQ
— SBF (@SBF_FTX) May 10, 2021
SHIB launched on Coinbase Global Inc’s (NASDAQ:COIN) platform later on Sep.16.
SHIB is launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store SHIB. We will update when all are fully live. https://t.co/ADHv2qGsbF
— Coinbase (@coinbase) September 16, 2021
The Investment: If an investor picked up $100 worth of SHIB each time it was listed by these three major exchanges, here’s how much they would have at press time when SHIB traded 1.7% lower over 24 hours at $0.0000245.
| Date Of Purchase/Listing | Purchase Amount | Purchase Price | Coins Obtained | Current Worth | Percentage Change |
|---|---|---|---|---|---|
| May 10, 2021 (Binance) | $100 | $0.0000225 | 2,854,695.975 | $69.94 | -30.06% |
| May, 10, 2021 (FTX) | $100 | $0.0000225 | 2,854,695.975 | $69.94 | -30.06% |
| Sept.16, 2021 (Coinbase) | $100 | $0.000008587 | 11,645,510.66 | $285.315 | 185.32% |
The $300 investment by the investor would be worth be $425.195 today, a respectable gain of 41.73%.
What’s Going On With Shiba Inu? Shiba Inu has declined 28.4% since 2022 began. So far, in the week, it has gained 5.6%.
Shiba Inu saw an uptick in the rate of token burn recently. Data from Shiba Inu burn data service indicates that the rate of burn rose by nearly 6,700% over the preceding 24 hours leading up to March 14.
In another development, AMC Entertainment Holdings Inc (NASDAQ:AMC) began accepting SHIB for online payments ahead of schedule.
