What is Shiba Inu?

Created in August 2020 by a founder called Ryoshi, Shiba Inu takes its moniker from the cuddly dog of the same name. And don’t get it confused with the similarly canine-themed Dogecoin, which features the same breed as its mascot. Instead, Shiba Inu calls itself a “Dogecoin killer.”

Like many other cryptocurrencies, Shiba Inu operates on a decentralized computer network running a database called blockchain. This blockchain database tracks and manages the crypto coin, verifying transactions and recording every transaction that occurs with it. So the database ends up being a long-running record of the movement of the cryptocurrency. Specifically, Shiba Inu runs on the ETH blockchain, offering the safety and functionality of that platform.

Shiba Inu trades for just fractions of a penny. In September 2022, one coin traded for about $0.000012, so about 800 of them equaled one cent. Despite the minuscule price, the value of all Shiba Inu coins was nearly $6.8 billion, due to the approximately 549 trillion in circulating supply, according to CoinMarketCap. It has nearly 1 quadrillion authorized coins. However, about 40 percent of those coins were irrevocably “burned” by Ethereum co-founder Vitalik Buterin, meaning that they’ve effectively been destroyed and cannot be used again.

Shiba Inu spiked in price during September 2021, when it was added to the Coinbase platform. Since then its price has fallen along with the broader rout in cryptocurrencies.

What does Shiba Inu do?

Shiba Inu is really divided into multiple tokens that help the entire cryptocurrency ecosystem function:

SHIB – This is the foundational Shiba Inu currency that can be traded and used as a medium of exchange.
LEASH – This token is limited to 107,646 units, making it the most limited of the Shiba Inu-related coins. It provides staking rewards for those validating transactions in the cryptocurrency.
BONE – This token has 250 million units, and it’s used to allow those using Shiba Inu to vote on various proposals.

Is Shiba Inu a good investment?

Shiba Inu has risen substantially during its brief existence, before plunging almost as fast. Rather than looking at the price gains and falling into fear of missing out, it’s vital to understand what you’re buying and why it may or may not rise in value. In the case of most cryptocurrencies, they’re not backed by the assets or cash flow of an underlying business.

On the other hand, with cryptocurrency such as Shiba Inu, your investment is not backed by any asset or cash flow at all. The only way you make money is if someone comes along and is willing to pay you more for your coins. So the key driver over time of cryptocurrency is optimism and speculation. Traders win when they can get someone else to buy cryptocurrency for more, or what’s called the greater fool theory of investing.

Finally, there’s the issue of Shiba Inu’s price, which is tiny. Some traders see it as a type of crypto lottery ticket because they can afford, for example, 1 million of these coins (at a cost of $12). Like with penny stocks, they think that if the coin just went up to one cent, they’d make a lot of money. Or even if Shiba Inu went to where Dogecoin was trading, they’d cash in their chips.

While the coin’s price may eventually reach the moon – the odds against it are astronomically high.

Shiba Inu is one of a newer wave of cryptocurrencies, riding a surge of interest in digital assets. If you’re looking to trade the cryptocurrency — or really any digital currency — it’s important that you understand what you’re investing in and what the potential risks are. Crypto is volatile and it’s not typically backed by any assets, so avoid wagering money that you can’t afford to lose.

about this dashboard

in this dashboard I want to analyze the impact of the SHIB in the ETH network.

in this dashboard I want to find the :

top 10 token that had the most number of the transaction.
transaction of the SHIB since first of the year.
user number of the SHIB since first of the year.
convert of the token from USDC to SHIB.
convert of the token from SHIB to USDC.
amount of the USD that in to the SHIB.
amount of the USD that out from the SHIB.
event type of the SHIB.

lets start.

as you see in the upper graph I found the top token that had the most number of the transaction.

as you see about 40 % of the total related to the USDT, and after that ETH by about 30 % and after that USDC about 13 % of the total.

as you see the other is low than 10 %.

as you see the SHIB is include in the upper graph by 2 % of the total.

we can understand that the percentage of the SHIB is not high but the SHIB is in the top 10.

so for the better analyze I want to start to the analyze the transaction and user number of the SHIB.

in the previous part know that SHIB transaction number is in the top 10 in the ETH network.

in this part I want to see that in this year in which day transaction number increase or decrease.

so when we see the chart we can see that in the all day the transaction number had a movement in the same range, but as you see just in some day transaction number increase and this day is 16 Mar, 1 Aug, 14 Aug, 29 Oct, 13,14,24,25 and 28 Nov.

and the low transaction number related to the Jun month.

and as you see the top transaction number is for the 16 Mar by about 40 K transaction number.

after this part I want to see that how is the act of the user number of the SHIB.

in the previous part I check the transaction number and in this part I want to analyze the user number.

as you see the total graph of the user number is similar to the transaction graph, but you see that in some case they had a difference.

as you see the max number of the transaction related to the 16 May and in this graph we can see that this large number may because of the user number of them.

when you see cumulative of the user number we can see the increase of the user number by high slope. and as you see in the end of the cumulative the slope decrease and it is show the decrease of the user number by the end of the year.

as you see in the two upper graph we analyze the transaction and user number of the SHIB in the ETH network and I think that it is time the analyze the swap.

in this part I want to analyze the swap of the SHIB to USDC and opposed.

first I want to check the USDC to SHIB.

as you see in the middle of the Aug the swap of the USDC to SHIB start to increase and the top level is related to the 29 Oct.

as you know up to the middle of the Aug the swap of the USDC to SHIB is close to the zero and after that the pump happen in the swap amount.

now it is time to the check the SHIB to USDC.

as you see the total view of the SHIB to USDC is the same as previous part but as you see in some case they had a difference.

in this part again we see that after middle of the Aug the swap start to increase.

after this part lets analyze the USD amount of the SHIB.

in the previous parts we analyze the transaction number, user number and swap amount and in this part I want to analyze the USD amount of the SHIB.

as you see in the red graph we can see that in the first half of the year the amount was more than the second half and as you see the top amount related to the 12 Apr.

when we see the cumulative of the USD amount we can see that the slope in the first of the year is high and in the second half of the year this slope decrease.

as you see in the middle of the year the amount was in their low range.

so lets analyze the opposed of this part in the next part.

in this part I want to check the opposed part of the previous part, as you see the total view of the graph are the same but they had difference in some case.

as you see in this part we can say that the total graph separate to the two part and like previous part in the middle of the graph the amount was close to the zero(low amount).

so as a final step lets analyze the event type of the SHIB in the next part.

in this part as a final step I want to analyze the event type of the SHIB in the ETH network.

as you see about 100 % of the transaction related to the swap and exchange is just one transaction, so it is show that about all of the user want to swap their amount and after that deposit or withdraw the graph is show this reaction to us.

as a final step lets check the conclusion and check the dashboard as a total view.

conclusion

in this dashboard I analyze the impact of the SHIB in the ETH network.

in this dashboard I find the :

top 10 token that had the most number of the transaction.
transaction of the SHIB since first of the year.
user number of the SHIB since first of the year.
convert of the token from USDC to SHIB.
convert of the token from SHIB to USDC.
amount of the USD that in to the SHIB.
amount of the USD that out from the SHIB.
event type of the SHIB.

and the result is :

SHIBs transaction is in the top 10 by about 2 % of the top 10.
SHIB transaction number since first of the year had a movement in same range except in some day and that day are; 16 Mar, 1 Aug, 14 Aug, 29 Oct, 13,14,24,25 and 28 Nov.
the top transaction number is for the 16 Mar and that number is more than 40 K.
in the user number graph we see that the total view of the graph is similar to the transaction and in some case had difference.
the top transaction number in the 16 Mar is related to the user number because in this date the user number had pump.
the cumulative of the user number show that in the end of the year user number decrease and in the first of the year the slope is in their high level.
in the swap of the SHIB to USDC and opposed, we see that after middle of the Aug the swap number increase.
in the both graph of the SHIB to USDC and opposed in the 29 Oct, the max swap number happening.
in the USD amount of the SHIB that in to the SHIB, we see that in the first of the year the amount was more than the second part of the year and in the middle of the year the amount was in their low range.

thank you because of your attention.