Coinbase App Description Now Includes SHIB | Twitter CEO Shares Picture

Urian B., Tech Times 30 October 2021, 09:10 am

While Bitcoin and Ethereum have both remained two of the biggest cryptocurrencies for quite a while now, it seems like another has joined the Coinbase app description. As of the moment, the Coinbase app reportedly shows "Coinbase: Trade BTC, ETH, SHIB..."

Jack Dorsey Shares Photo of Coinbase with SHIB

Jack Dorsey, the CEO and founder of Twitter, recently shared a screenshot of what looked like the Coinbase app. The app reportedly mentioned three different cryptocurrencies. These three cryptocurrencies reportedly included BTC, ETH, and quite surprisingly, SHIB.

Shiba Inu has been quite a surprising cryptocurrency as it came out of nowhere and is now increasing in popularity. While it was earlier referred to as a copy of DOGE, the popular cryptocurrency that soared out of nowhere, the cryptocurrency has recently shown that it is actually more than just a copy of DOGE.

Twitter CEO and Cryptocurrency

Jack Dorsey has been quite fond of cryptocurrency as seen in his Twitter profile with the description #bitcoin. Just before the Twitter CEO shared a screenshot of Coinbase, he tweeted out a question regarding the economics of Bitcoin.

According to his tweet, he asked "is there a more honest market than Bitcoin?" and to this, there was an answer in parentheses "(obviously I don't think so)." Jack Dorsey's Twitter profile also has a pinned tweet that was posted last April 8, 2020.

What is Shiba Inu?

The token has climbed to #9 on CoinGecko with a market cap of a whopping $39,874,692,040. The total supply of the cryptocurrency was reportedly set at a whopping 1,000,000,000,000,000 or one quadrillion tokens. As of the moment, it was noted that the circulating supply was at 549,153,063,368,079.

As per CoinGecko, Shiba Inu is said to be a meme token which started as a fun currency and has been able to transform into a decentralized ecosystem. During its initial launch, 50% of the supply was actually allocated directly into Vitalik Buterin's ethereum wallet.

Shiba Inu Fun Facts

The price of SHIB has massively increased from its low at $0.000000000056 all the way up to its ATH at $0.000084. This is reportedly 150,000 times increase within a short span of just 8 months. As a result of this, Vitalik then decided to donate 10% of his own SHIB holdings directly to a COVID-19 relief effort in India while deciding to burn the remaining 40% of his holdings.

The donation was reportedly worth a whopping $1 billion during that time making it one of the largest donations ever made in the whole world. SHIB has also upgraded itself with the team launching a decentralized exchange known as Shibswap along with two tokens namely LEASH and BONE.

LEASH is known as a scarce supply token that is reportedly used to be able to offer incentives on Shibswap. BONE, on the other hand, acts as the governance token for holders to be able to vote on proposals on Doggy DAO.

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Written by Urian B.