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Highlights:
- The ShibaDoge project was launched on December 24, 2021.
- Its current circulating supply of the token is US$194.71 trillion.
- SHIBDOGE's short-term goal is to have at least 50,000 holders on its platform.
While talking about cryptos, the first few names that pop into the mind are Bitcoin (BTC), Ethereum (ETH), Solana (SOL), etc., that are currently dominating the market.
However, the gaining traction of the cryptos has brought many other altcoins or alternatives to Bitcoin in the market.
In addition to that, various meme coins or meme cryptos also came into existence in recent times, that have gained attention from investors.
Meanwhile, one such meme coin in the limelight is ShibaDoge (SHIBDOGE), primarily due to its name comprising of two most popular meme coins, Shiba Inu (SHIB) and Dogecoin (DOGE).
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What is ShibaDoge (SHIBDOGE)?
ShibaDoge claims to be a community-driven utility token that SHIB and DOGE whales were incepted for benefiting both the communities.
SHIBDOGE, the ERC-20 token, is the token symbol for ShibaDoge and trades on the Ethereum network.
As per its website, the token is auto deflationary, meaning its supply decreases with each buy and sell transaction. Plus, this also increases its value by reducing the supply over time.
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The crypto was launched on December 24, 2021, with a total supply of 420 sextillion tokens. During its launch, 50% of the total supply was burned.
According to its whitepaper, the project aims to use the functions of Web3 and Decentralized Finance (DeFi) for delivering a greater value to its ecosystem.
It primarily intends to combine the communities behind Shiba Inu and Dogecoin. The project's short-term target is to attain at least 1% of the total combined community of the two meme coins.
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The total market cap of the two meme coins is nearly US$40 billion, representing around 5 million token holders.
So, SHIBDOGE, according to its short-term goal, is aiming to have at least 50,000 holders and US$400 million in market valuation.
The token is available on various exchanges like Uniswap (V2), Hotbit, etc. However, one should exercise caution before buying cryptocurrencies.
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Source: *Data provided by CoinMarketCap.com
Bottom line:
The SHIBDOGE token was priced at US$0.000000000000000393 at 3:39 am ET on March 1, up 22.16%. The current circulating supply of the token is 194.71 trillion.
Its market cap is US$76.76 million, while its last 24-hour volume was US$1.74 million through Tuesday morning. The token gave a return of 99.96% YTD.
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