What Is Baby Shiba Inu (BABYSHIBAINU)?

Baby Shiba Inu (BABYSHIBAINU) is a meme cryptocurrency mostly centered on increasing value for token holders. Meme tokens are based on internet jokes (memes) or recent events and are often endorsed by influencers. Baby Shiba Inu aims to bring crypto to the masses with an emphasis on community and competitive reward plans for its users. 

According to the whitepaper, the team developed the project to help organizations that deal with Shiba Inu dog rescue. The platform wanted to establish itself as a socially conscious coin, created by a team of dog lovers and widely circulated across the crypto community. The long-term goal of the platform is to create and trade NFTs using an NFT platform for mobile phone devices. As an incentive, all Baby Shiba Inu token holders aspire to receive benefits from the token distribution and the network itself.

The native token of the platform is BABYSHIBAINU and runs on the Binance Smart Chain. The platform was created using the Binance Smart Chain to make Baby Shiba Inu more user-friendly. There is a high volume of transactions involved in DeFi applications. As a result, blockchain fees are a significant consideration when selecting a blockchain protocol. Binance Smart Chain seeks to reduce transaction costs while also providing a platform for DApps and other DeFi products to be developed. Also, the BABYSHIBAINU token is deflationary, meaning the supply diminishes with time, raising prices. A shrinking supply mostly occurs through repurchases and token burning. When a fraction of tokens is delivered to a wallet with no private key, it is known as cryptocurrency burning. This indicates that the tokens are permanently lost. Burning tokens is a common practice for limiting supply and raising market value. 

The Baby Shiba Inu network assures that holding Baby Shiba Inu tokens is advantageous for users via a three-pronged approach: 

1. Anti-dump: Anti-dumping and anti-whaling measures are meant to maintain price stability. Individuals, institutions, and exchanges that own large amounts of a cryptocurrency's tokens are called whales. These businesses can also lead to price manipulation because they hold considerable volumes. The network prohibits users from selling significant amounts of tokens all at once, which might cause prices to fall. 

2. Liquidity locked: The liquidity tokens are inaccessible to others. The mechanism ensures that trade liquidity is always available.

3. Rewarding holders: 2% of the revenues from token trades are split evenly among all holders. 

History of Baby Shiba Inu (BABYSHIBAINU)

The team launched the coin and website in the project's first stage. The team also launched an extensive marketing campaign to acquire traction. With giveaways, the site hoped to reward its users. At the time of inception, the total quantity of BABYSHIBAINU tokens was 1,000,000,000,000,000. After launch, half of the supply was burned. 

How Are New Baby Shiba Inu (BABYSHIBAINU) Created?

Since Baby Shiba Inu is a deflationary cryptocurrency, the market supply shrinks over time. Deflationary tokens inherently reward their holders by appreciating. Additionally, each transaction on the network incurs a fee, 2% of which is distributed among token holders as rewards. The transaction fees on the network are distributed as follows:

• 6% to be held for liquidity

• 2% to be distributed among holders

• 3% dedicated to marketing.