What is the My Shiba Inu Token ? This is the explanation

Recently, the Shiba Inu Coin has become increasingly popular. This cryptocurrency which is a rival to Bitcoin and Dogecoin, the price began to soar after Elon Musk's tweet on Twitter. 

Launching from Bloomberg, the Shiba Inu cryptocurrency is now the 20th largest cryptocurrency in the world by market value. The cryptocurrency's value has more than tripled in the past week, fueled in part by Elon Musk's recent tweets about his own puppies.

The Shiba Inu (SHIB) coin marked with the hashtag #SHIB suddenly trended on Twitter after Elon Musk uploaded a photo of the Shiba Inu dog on the Twitter account @elonmusk. Elon Musk's tweet featuring the Shiba Inu dog also contributed to the SHIB spike of more than 90 percent in a 24-hour period in a 24-hour period.

Shiba Inu coin was founded by an anonymous person named Ryoshi last year. According to the coin's website, it calls it a decentralized meme token that is evolving into a dynamic ecosystem.

Launching from the official website, shibatoken.com, the Shiba Inu Token is a base currency that allows investors to store millions, billions, or even trillions in their wallets. The Shiba Inu is internationally recognized and its legitimate utility, so SHIB will continue to expand its reach. As the name implies, the coin's mascot is a dog from Japan, Shiba Inu, which also represents Dogecoin. This is why the Shiba Inu is dubbed the "Dogecoin Killer"

The founder, Ryoshi, locked 50 percent in Uniswap and gave half of it to Ethereum co-founder Vitalik Buterin.

Then, Vitalik used SHIB as the largest crypto donation in history to tackle the Covid-19 which was spreading ferociously in India some time ago.

"To help reverse the devastating spread of Covid-19 in India, VB (Vitalik Buterin) has used SHIB in the largest crypto donation in history, and then literally burned 40% of its total supply to dead wallets, ensuring our long-term success and stability. ," wrote the website.