What is Shiba Inu (SHIB)?
Shiba Inu is an Ethereum based altcoin that features the Shibu Inu as its mascot. Shiba Inu is broadly considered to be an alternative to Dogecoin. In fact, the supporters of Shiba Inu tout it as “Dogecoin killer”.
Shiba Inu and Dogecoin both are the meme coins, which are the cryptocurrencies that are associated with some theme- like Shiba Inu dog in the case of Dogecoin and Shiba Inu- both are launched as a joke rather than as a digital product that actually has some utility. Dogecoin was launched in December 2013, and dogecoin killer was created in August 2020 by an unnamed person or group known by the name Ryoshi.
How does Shiba Inu work?
It is an ERC-20 token powered by Ethereum. As we know that it runs on the Ethereum network, SHIB can hold the smart contracts to create decentralized finance products. Shiba Inu plans on entering the DEFI space, which has gained power after seeing the protocols rise in the adoption and price, by its artist incubator and decentralized exchange. The incubator will enable the artists to use the Ethereum’s network for bartering off non-fungible tokens with the smart contracts, creating an NFT market that removes the need for third-party.
Convert SHIBA INU to PHP
The current price of SHIBA INU is ₱0.000625 per SHIB. With circulating supply of 589,544,919,378,867.8 SHIB. Which means that SHIBA INU has market cap of ₱369,406,652,099.33. The amount of SHIBA INU traded has increased by ₱57,170,010,885.40 in the last 1 day, which is 172.83% increase. Also, in the last day ₱33,079,250,446.07 worth has been traded.
The current value of 1 SHIB =₱0.00 PHP. It means, to buy 10 SHIBA INU, it would cost you around ₱0.000629 PHP. Oppositely, ₱1.00 PHP would allow you to trade for 1,600.11SHIB while ₱50.00 PHP would convert to 80,005.34 SHIB, not including any fees.
In the last 1 week, the exchange rate has increased by 12.04%. For now, in the last 1 day, the rate has changed by 6.14%, which means that the highest exchange rate of 1 SHIB to PHP was 0.0000117 PHP and the lowest value in 24 hours was 1 SHIB for 0.00001062 PHP. Last month, the value of 1 SHIB was ₱0.00 PHP, which is 1.82% increase where it is now. Last year, SHIBA INU has changed by ₱0.00 PHP. It means that in single year, the value of SHIBA INU has shrank by 56.54%.
As a result, those mentioned above are about Shiba Inu, how does it works and how to convert it. Shiba Inu is an Ethereum based altcoin that features the Shiba Inu as its masot. Shiba Inu is widely considered as a alternative to Dogecoin.