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Shiba Inu (SHIB) is an Ethereum-based cryptocurrency that is inspired by the Shiba Inu dog breed. It is known as a “meme token” and has been created as an alternative to Dogecoin, with an active community and a focus on decentralization.
Shiba Inu (SHIB) works like an ERC-20 token on the Ethereum blockchain. Users can buy, sell, and trade SHIB on cryptocurrency exchanges. Although it originated as a meme token, its community has developed several projects and applications within the Ethereum ecosystem.
The total supply of Shiba Inu (SHIB) is 1 quadrillion tokens. A large part of this supply was sent to a burn wallet to reduce the supply in circulation and increase the potential value of the remaining tokens.
The primary purpose of Shiba Inu (SHIB) is to serve as a community token within the Ethereum ecosystem. Aside from its role as a meme token, SHIB is used to participate in project governance and community initiatives, and applications such as ShibaSwap have also been developed to exchange tokens within the Shiba ecosystem.
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