The data in this article are as of 2021/5/8 and may differ from the actual situation at the time of publication, so please verify them yourself.
01 Brief description of the project
Shiba Inu is a decentralized community-driven experimental project with a fair start, and is currently a community hit, known as Dogecoin Killer.
Official Website | https://www.shibatoken.com
Twitter | https://twitter.com/shibtoken
Telegraph | https://t.me/shibainuthedogecoinkiller
02 Project Explanation
2.1 Project tokens
Shiba project currently issues 3 tokens, namely SHIB (Shiba Inu), LEASH (Dog Leash) and BONE (Bone), which are briefly described below.
The total amount issued is 10 trillion SHIB, of which 50% is transferred to Vitalik Buterin’s wallet address, equivalent to destruction, and the other 50% is paired with 10 ETH and put into the pool of Uniswap for that transaction pair. The team doesn’t hold any tokens, it’s a completely fair launch, and the way for everyone to get SHIB is to buy it on DEX or CEX.
The token has been widely popular due to its large number of offerings and extremely low price, and Elon Musk has publicly tweeted in its favor, making it a popular MEME in the industry today.
In contrast to SHIB’s huge total, LEASH’s total issue is only 100,000 LEASH, initially set up as a Rebase token linked to the price of dogcoin, and is now off Rebase and is a regular ERC20 token. After ShibaSwap goes live, both SHIB and LEASH will be able to be mined in it.
A total of 250 million BONE will be issued as the governance token for ShibaSwap.
2.2 Project Progress
SHIB is currently hot with over 168,000 on-chain coin-holding addresses, 67,000 Twitter followers, and 73,000 telegram group users. As a MEME Coin, SHIB has already gained wide attention and participation from a large number of users.
In terms of development plan, Shiba has not yet disclosed the specific development roadmap, but the official website has disclosed the following 3 ongoing affairs.
ShibaSwap: an ethereum-based lightweight DEX, no further details have been disclosed. It is currently undergoing a security audit and final updates, and will go live soon.
Artist Incubator: Invites artists in the community to create crypto art NFTs.
Charity: Rescue real-world Shiba Inus through Amazon Smile charity.
03 Project Analysis
Currently, SHIB is a successful project, and its development path is similar to that of Dogcoin, both of which have grown through community culture. In analogy, SHIB is more like a “new dogcoin” of the Ether era/DeFi era, which not only brings the fair start blockchain spirit, strong community-driven consensus, and celebrity marketing to the forefront, but also explores the combination with hot areas such as DeFi and NFT.
Shiba Inu’s goal is to build an ecology, and its ecological development path is very clear. In the early stage, it first attracts the attention of a large number of users through SHIB’s marketing, i.e., it first builds a strong community and consensus, and then launches its products (the earliest launch was ShibaSwap) to make users who already hold coins settle down. This is common in the traditional Internet industry, for example, Xiaomi first built a fan community through ROM in the early stage of its business, and then launched a hardware product later to become a hit.
SHIB’s huge issue volume is not only a gimmick, but also a key point to attract users to hold coins. Ordinary users can easily buy SHIB in billions to make up for the lost feeling of stepping short of dogcoin, while new users who rush in under the crypto boom are psychologically more willing to buy cheap tokens. The convergence of small amounts of money made it possible to have a large number of holding addresses (there were also a large number of holding users who did not withdraw their coins to their wallets due to the fees not counted), and also pulled the price up, thus triggering a collective FOMO in the circle (the consensus of leeks is also the consensus :).
With the dramatic rise in SHIB, extra attention needs to be paid to the risks. At present, Shiba Inu project has not yet launched a formed product, relying only on community sentiment and Musk shouting orders can not maintain the long-term heat and rise, the power of the community can not be underestimated but also can not be overestimated, the subsequent development still depends on the actual performance of the product after the launch.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/dog-coin-killer-shiba-inu-coin-shiba-inu-investment-research-report/
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