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The meme tokens Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) traded 4.3% and 4.6% lower, respectively. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day.
Shiba Inu is still down from its 2021 high. Shiba Inu reached an all-time high of $0.000086 in 2021, and it ended that year with a total gain of 45,278,000%, which remains one of the best annual ...
From the high of $0.00004564 it reached in early March, Shiba Inu's valuation has plummeted by approximately 64%. (Dogecoin, meanwhile, is down by about 53% from the 52-week high it touched in March.)
Shiba Inu token (ticker: SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi". [1] It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin , another cryptocurrency with meme origins.
Dogecoin (/ ˈ d oʊ (d) ʒ k ɔɪ n / DOHJ-koyn or DOHZH-koyn, [2] Abbreviation: DOGE; sign: Ð) is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. [3]
The first cryptocurrency to use both PoW and PoS functions. 2013 Dogecoin: DOGE, XDG, Ð Jackson Palmer & Billy Markus [15] Scrypt [16] C++ [14] PoW: Based on the Doge internet meme. 2013 [17] [18] Gridcoin: GRC Rob Hälford [19] Scrypt: C++ [20] Decentralized PoS: Linked to citizen science through the Berkeley Open Infrastructure for Network ...
At the current token price, Shiba Inu has a market capitalization of about $18 billion. Simple math suggests that at a price of $1 per token, its market cap would be $589.3 trillion.
Two weeks later, SHIB recorded its current all-time high of $0.000089 on Oct. 28, although the market has since corrected again. Shiba inu is generally perceived as a meme currency similar to other dog-themed cryptocurrencies such as dogecoin and has a similarly viral following of more than 1.2 million people on Twitter.
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