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First things first! Before knowing all the details of ShibaDoge, we need to go through the two bigger projects behind creating ShibaDoge, i.e. Shiba Inu and DogeCoin. Shiba Inu was created back in 2020 as a decentralised project with an ERC-20 token SHIB. The idea behind creating Shiba Inu was to provide a situation for users to take control of everything. Read the complete report of Shiba Inu here.
The other project behind ShibaDoge is DogeCoin, which came into being in 2013. Using a Scrypt algorithm, DogeCoin was formed as a derivate of LuckyCoin, a fork of Litecoin itself. To learn all about DogeCoin, you need to check out this article.
The two famous whales of the crypto ocean, Shiba Inu and DogeCoin, have come together in a project that intends to combine the features of both parent projects. Launched on Dec 24, 2021, ShibaDoge has a total supply of 420 sextillion tokens. Fifty per cent of its total supply was burned upon launch. Using Web 3.0 and Decentralised Finance (DeFi) as two powerful wings, ShibaDoge aims to provide greater value for its ecosystem. This project is called ShibaDoge since it was primarily developed to bring together both communities behind Shiba Inu and DogeCoin. The main short-term objective of these two meme coins is to obtain 1% of the combined community supporting each one.
Shiba Inu started as a DogeCoin Killer and has over 1 million holders, and DogeCoin started as a joke and has about 4 million holders. Now they have come together to combine both communities and make ShibaDoge. In simple terms, paying attention to the community, DeFi, and Web 3.0 make up the core of ShibaDoge. One of the main objectives of ShibaDoge is to provide a decentralised ecosystem for its community and bring together DeFi and Web 3.0. Community is a priority for ShibaDoge, which will be given the power to set and change the goals of this project and control them. By community, ShibaDoge means the supporting mass behind Shiba Inu and DogeCoin in the first place. ShibaDoge emphasises decentralisation since it brings transparency, which in turn leads to trust.
Put together, Shiba Inu and DogeCoin’s market cap is around 40 billion USD, with about 5 million token holders. The rule of the thump shows that the team behind ShibaDoge expects to obtain approximately 50,000 holders and at least 400 million USD worth of market value. According to the report on Coingecko.com, today, on Apr 12, 2022, ShibaDoge’s price is $0.00, but its trading volume for the last 24 hours is $162,109. ShibaDoge has a circulating supply of 190000000 Quadrillion SHIBDOGE coins, and its total supply is around 420000000 Quadrillion.
The current rank of ShibaDoge based on the market cap is #580. Recently, ShibaDoge’s price has been experiencing a downward trend, with -0.4% in the last 24 hrs, -20.2% in the previous seven days, and -11.2% in the recent month. BitMart, Uniswwap and Hotbit are among the many decentralised exchanges providing ShibaDoge’s token, SHIBDOGE, for trade.
The following pie chart retrieved from ShibaDoge’s official website indicates the launch allocation of SHIBDOGE.
ShibaDoge’s roadmap is based on two primary objectives:
There are various NFT collections provided by Shiba, Doge and ShibaDoge, including Doge Army NFTs, Shiba Army NFTs, and ShibaDoge Army NFTs.
Doge Army NFTs are comprised of a series of 10,000 hand-drawn NFTs depicting combat veterans. Their mission is to get rid of the borders and government-controlled monopolies! You can learn the details of NFT classes and rarity on ShibaDoge’s website.
Shiba Army NFTs are to be released yet, and the expected date is reported to be Q2 of 2022. Check out some of the best NFT marketplaces in 2022.
ShibaDoge Army NFT is created by breeding a Doge Army NFTs with a Shiba Army NFT. The mechanism for breeding is expected to be announced in the second quarter of 2022.
Staking NFTs mentioned above will result in earning SHIBDOGE tokens every day. The amount of the reward depends on the ranking of the NFT and is exactly equal to the amount of the NFTs staked. More details about staking these NFTs have not been published yet. Meanwhile, you can learn the pro tips of staging and make a fortune.
Considering all the points mentioned in this article, from the vision to the financial analysis, one might say that ShibaDoge can be a promising project if it can get the support of the two communities of Shiba Inu and DogeCoin. That being said, we all know the crypto world is too volatile, and you always need a financial advisor by your side before making any crypto investment decisions. But you need to remember that Cryptologi.st is no financial advisor. It’s developed to educate you on crypto-related information by providing popular news, top 1500 coins’ reviews, educational content and many more. We will always have something new for crypto seekers; stay tuned!