Market Daily

Market Daily

A SHIB Enters the Cardano Network Looking to Follow in Shiba Inu’s Footsteps

It wasn’t too long ago that the Shiba Inu meme coin took over the Ethereum network and blew up in valuation. Many have tried to emulate the token’s success, but only some have thrived. Accordingly, one new token has been growing in momentum. It’s called A SHIB, and it has been branded as Shiba Inu’s sister. 

Unlike her earlier predecessor, A SHIB won’t be entering the Ethereum network, however. Instead, it will be going in the Cardano network, a smaller but fast-rising blockchain platform that promises a lot of growth with lower gas fees—a payment that has hurt many investors and holders. With lower gas costs, A SHIB investors and collectors can reinvest more of their money into the coin’s value itself and get more if and when the coin’s value increases. 

Another difference between the A SHIB and the Shiba Inu coins is the number of tokens available to the market. Shiba Inu has over 589 trillion tokens, where A SHIB only has 1 trillion. With a smaller volume, the value per coin rises faster with every transaction. A SHIB will have a slew of exclusive non-fungible tokens in the coming weeks too. All of them will only be available to A SHIB owners as it will be the only mode of payment. By putting this gated access to a collection of high-potential coins in the fast-growing Cardano chain, the crypto world is most likely looking at a coin that will rise in valuation fast. 

The A SHIB’s DEXs are not live yet, but avid investors in early tokens can already pick up the A SHIB on their website. More particularly, payment comes through ADA, the official unit of currency in the Cardano network. Thus, people can send ADA to the specified address on the exchange page in payment for A SHIB tokens. There are, however, plans to get the A SHIB in decentralized exchanges, which will allow for easier peer-to-peer currency transactions on a secure network. By then, the A SHIB coin’s founding team will create an ADA/ASHIB liquidity pair.

A large portion of the 1 trillion tokens in the A SHIB vault will go to a DAO treasury. This move comes in preparation for creating a huge decentralized autonomous organization where community members and A SHIB owners can make proposals and platform exchanges funded from the specified treasury. Currently, the plan is to set aside 150 billion A SHIB tokens for that treasury, with another 250 billion set aside for community ideas to grow and enrich the upcoming network of holders and investors. The founding team will tap into the community to get ideas for putting those reserves to good use.

The A SHIB team looks to grow their community massively and bring a whole new ecosystem for exchange and content creation by entering into the Cardano network. The goal is to run a whole series of Cardano NFTs, which will allow more artists to generate massive revenue through the blockchain innovations attached to the non-fungible token movement. 

The A SHIB has a long way to go, but there’s a lot of momentum going on, and people are quickly catching up to the token’s growth. To keep updated on A SHIB news and updates, visit the official website.

Opinions expressed by Market Daily contributors are their own.