What is the issue volume of SHIB coins? An article introduces the application scenarios of SHIB coins

What is the Issued Volume of SHIB Coins?

SHIB, also known as Shiba Inu, is a cryptocurrency launched in August 2020 by an anonymous person or group known as "Ryoshi".

Issued Volume

The initial circulating supply of SHIB was set at 1 quadrillion (1,000,000,000,000,000) coins. However, in May 2021, the developers "burned" 410.3 trillion coins, which were sent to a dead wallet and removed from circulation. This resulted in a circulating supply of approximately 590 trillion SHIB.

Application Scenarios

SHIB coins have several potential applications:

1. Medium of Exchange: SHIB can be used to purchase goods and services from merchants that accept it as payment.
2. Store of Value: Similar to other cryptocurrencies, SHIB can be held as a long-term investment or a hedge against inflation.
3. Utility Token: SHIB can be utilized within the Shiba Inu ecosystem for various purposes, such as staking, governance, and rewards.
4. Reward System: SHIB is distributed as rewards to users who participate in the ecosystem, including liquidity providers, stakers, and content creators.
5. Collectible: Some collectors view SHIB coins as a collectible asset due to its unique characteristics and association with Shiba Inu dogs.

Market Performance and Price

SHIB has experienced significant volatility since its launch. It reached a peak value of $0.00008880 in October 2021 but has since declined in value. As of March 2023, SHIB is trading around $0.000012, with a market capitalization of approximately $6 billion.

Note: The information provided in this article is for informational purposes only and should not be construed as financial advice.