Shiba ( SHIBA), the self-proclaimed “Dogecoin (CRYPTO: DOGE) killer,” has experienced a massive surge in value, rising by 750% in the past 24 hours. 

What Happened: While it is not listed on centralized exchanges, the token has been actively traded on decentralized exchanges, with a trading volume exceeding $1.96 million during this period.

Data from DEX tools reveals that there are currently over 16,500 SHIBA holders. At the time of writing, SHIBA is being traded at a price of 0.00000000588. In comparison, Shiba Inu (CRYPTO: SHIB), is trading at $0.000007195, showing a slight decline of 0.93% in the past 24 hours.

The SHIBA website declares itself as the “rebirth of the DOGE killer”. It emphasizes the anticipation for a new leader and highlights the enthusiasm of the Shiba whales. “The world has witnessed a lot of disappointments, the Shiba whales have their eyes blazing. It’s time for the birth of a new king, a new Doge Killer of 2023, $SHIBA.”

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Why It Matters: In terms of token supply allocation, SHIBA has distributed its supply as follows:

Here is the breakdown of token supply allocation:

– Liquidity: 47% of the token supply, which amounts to 470  trillion tokens, will be burned at launch. 

– Burn: 30% of the token supply, which equals 300 trillion tokens, will be removed from circulation at launch.

– CEX: 5% of the token supply, which is 50 trillion tokens, will be allocated for centralized exchange listings. These tokens will be vested at a rate of one percent per week.

– Marketing: 5% of the token supply, which amounts to 50 trillion tokens, will be allocated for marketing and development funds. These tokens will be vested over a period of twelve months.

– Ecosystem Fund: 4% of the token supply, which equals 40 trillion tokens, will be allocated for the ecosystem fund. These tokens will be vested over a period of ten weeks.

– Bridge: 4% of the token supply, which amounts to 40 trillion tokens, will be allocated for the bridge fund for cross-chain trading. These tokens will be vested at a rate of one percent per week.

– Team: 5% of the token supply, which is 50 trillion tokens, will be allocated for the team fund. These tokens will be vested over a period of twelve months.

Please note that these allocations are subject to change and may be adjusted over time.

Further, SHIBA has introduced its own token called $BONES.

Photo by Avi Rozen on Shutterstock

These types of tokens can be highly volatile, and their value may fluctuate significantly in the market. Therefore, it is important to exercise caution and conduct thorough research before making any investment decisions.

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