The Cardano network has become the latest gold rush in the crypto community, helping many holders, investors, and traders create massive revenue from the network’s fast-rising valuation. Accordingly, one new token looks to become another moonshot on the Cardano blockchain as it starts its offering to the world. The coin is called A SHIB, and it’s a name that crypto enthusiasts are starting to hear a lot.
The Cardano network (ADA) has been one of the most promising in the blockchain market. It started at around five to six cents per token only a little more than a year ago and has peaked to $2, a 40,000% increase, enough to be considered a moonshot. A SHIB looks to get into that action by releasing only the third coin within the ADA network, and it looks a little familiar. That’s because the concept for the coin takes after the famed Shiba Inu, which disrupted markets on Ethereum after becoming one of the most successful tokens in the crypto sphere this year.
A SHIB looks to follow in its predecessor’s footsteps. Already, people are calling the upcoming ADA coin the “sister of Shiba Inu.”
“ADA Shiba Inu, or A SHIB for short, is the 2.0 version of Shiba Inu built on Cardano, utilizing low gas fees and Cardano’s Extended UTXO model,” shares the company’s website. With lower gas fees, people can put more money into the coin’s value and make more once the coin appreciates. The UTXO model is another decisive factor for A SHIB’s rise as it allows people to transfer individual coins (or known as UTXOs) between users, much like one would wire physical cash. The other cryptocurrency to do this is Bitcoin.
Shiba Inu shook Ethereum’s core with months of bullish growth. Now ADA Shiba Inu looks to do the same for the Cardano network. The A SHIB has a smaller volume than Shiba Inu, providing a more scarce 1 trillion tokens than the 589 trillion that Shiba Inu provides to the Ethereum network. With a smaller supply, the founding team creates a stronger sense of exclusivity to the token. Around 15% of that pot will remain in a DAO treasury, as the founding team hopes to create a decentralized autonomous organization to provide some level of governance for community growth. There will also be another 25% of the overall volume reserved for community ideas to reward lucky members of the A SHIB’s holder community.
Being only the third token to enter the Cardano network, A SHIB is very much an early adopter, a position that has been significantly rewarded in the cryptocurrency sphere. In addition, the A SHIB isn’t live on decentralized exchanges yet, making this the perfect time to look into an early entry. There are, however, plans to enter a few DEXs soon. In the meantime, avid investors can start picking up their tokens directly on the token’s market.
The A SHIB project will also be launching CNFTs (Cardano NFTs) in the next few weeks that only A SHIB token owners can access, building a stronger sense of functionality to the coin. In addition, there are many other projects in the pipeline that make the A SHIB journey more than interesting. To learn more about developments and plans, investors can check out the official A SHIB website.