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

Shiba Inu, launched in August 2020 with a circulating supply of 1 quadrillion coins, has 590 trillion coins in circulation after a burn of 410.3 trillion coins in May 2021.

Oct 16, 2024 at 02:36 pm

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.