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Move over Dogecoin, SHIB coin is here

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As more of us get on board the crypto train, SHIB coin is the new crypto player entering the market

The “Shiba Inu coin” also known as SHIB coin or $SHIB is rising in popularity. Much like Dogecoin – it started out as a meme, but now crypto investors are seeing some potential.

Cryptocurrencies have become ‘the new norm’ in 2021, with businesses, brands and celebrities investing in digital currency.

YOU MIGHT ALSO LIKE | SHIB drops 40% – Gets major exchange listing with OKEx

What is Shiba Coin?

Shiba was founded by the mysterious Ryoshi, in 2020. Although Ryoshi’s identity remains unknown, they agreed to speak to Ticker reporters over a telegram chat.

Ryoshi says that Shiba is “an experiment in decentralised community” to “see if a garden can thrive without tending.”

Unlike most crypto projects which are self-funded or rely on fundraising, the founders of Shiba didn’t put any funding into the project.

“They have taken ownership of the movement themselves. “Their numbers are unstoppable and they are working as a force to change their lives.”

Ryoshi, founder of Shiba inu coin

Where can you buy Shiba Coin?

Shibu Inu coin can be bought as tokens directly from their website, or through popular third parties like the Uni-swap platform.

The SHIB Token is an ERC-20, compatible with the Ethereum network. According to Shiba’s founders, they are currently ranked as the 15th currency with a market cap of about $35 billion.

It’s also been listed on many large crypto exchange platforms according to CoinMarketCap.

This includes Binance, the largest crypto exchange.

How does Shiba Coin work?

SHIB seems to draw inspiration from Dogecoin, and it has been able to ride the success of Musk’s favoured crypto.

Keira is the front-page editor at Ticker NEWS. She's previously worked at Reuters in Jakarta, and ABC in Australia. She has a Bachelor of Journalism, specialising in international politics. Keira is particularly interested in writing about politics, technology and human rights.

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2 Comments

2 Comments

  1. Ma

    May 13, 2021 at 9:07 am

    My investment over 10k down on shib hope it will go up

  2. Ryoshi

    May 12, 2021 at 8:57 pm

    Why anonimity? Is this another Bitconnect? Russian Razzleton?

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Crypto

Mass protests in El Salvador as thousands protest against Bitcoin

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El Salvador President Nayib Bukele remains hopeful that Bitcoin will help the people of his nation that are currently working abroad, transfer money back home.

Protesters however feel the cryptocurrency will bring instability and inflation to the Latin American nation.

During the protests on Thursday demonstrators could be seen setting fire to a brand-new Bitcoin machine, while others spray painted some shop windows.

As of last week, El Salvador officially became the first country to allow the digital currency to be used as legal tender, alongside the US dollar.

Protesters are against Bitcoin becoming legal tender / Image: The Gaurdian

The demonstrators, gathered in the capital San Salvador on the 200th anniversary of the country’s independence, brandishing placards reading “No to Bitcoin” and “Respect the Constitution”.

Protesters have accused President Bukele of abusing his authoritative power by allowing Bitcoin to become the country’s legal tender.

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Crypto

How a fake Walmart news post boosted cryptocurrencies

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A fake Walmart news release claiming the retail giant would soon accept cryptocurrency has send the digital coin sector into a frenzy

Cryptocurrency Litecoin saw a sudden surge on Monday over the press release, which turned out to be fake.

The release, published through a legitimate press channel, claimed that Walmart would accept the currency through all of the company’s digital stores.

Walmart Store / Image: File

Walmart later told US media outlets the announcement was “inauthentic”

By the time Walmart confirmed that the news release was fake, several major news websites and press agencies had spread the supposed news.

The announcement made it on to Globe Newswire, a service widely used to distribute press material from companies.

The faked release has since been deleted, and did not appear on Walmart’s own website.

A tweet from a verified Litecoin Twitter account linking to the release has also been deleted.

Hours later, the Litecoin Foundation tweeted to confirm that the organisation had no such partnership:

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Crypto

Bitcoin-drop: El Salvador falters in legal tender rollout

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Bitcoin plunged as much as 17 per cent to its lowest level in a month as El Salvador’s crypto rollout got off to a rocky start

The largest cryptocurrency fell as low as $43,050 in New York on Tuesday, plunging more than 10 per cent over an hour, before recovering about half the losses.

The Bloomberg Galaxy Crypto Index, which tracks some of the largest digital tokens, lost as much as 19 per cent at one point. 

El Salvador has become the first country to accept Bitcoin everywhere

The drop comes as Bitcoin faces one of its biggest test in its 12-year history as El Salvador became the first country to adopt it as legal tender

You can now pay for a burger using bitcoin, as businesses across the nation are advised to accept the digital coins as payment 

The Central American nation’s president, Nayib Bukele, said on Twitter that the digital wallet being used in the project can now be downloaded after it was shut down earlier because of technical glitches.  

The wallet, known as Chivo, comes pre-loaded with $30 worth of the currency for users who register with a Salvadoran national ID number

Millions of people are expected to download the government’s new digital wallet app.

More than 200 new cash machines are being installed across the country to enable dollars to be converted into Bitcoin.

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