The Chicago Journal

A SHIB Becomes Only the Third Token to Go on the Cardano Network and Is Quickly Turning into a Coin to Watch

The Cardano network is quickly becoming the next cryptocurrency network to blow up in terms of coin offerings. Today, another coin has entered the blockchain’s ecosystem and is already showing early signs of becoming the next moonshot offer. The token is called A SHIB and has been branded as Shiba Inu’s sister. 

A SHIB is a Cardano-based (ADA) token that takes the meme coin experience to a whole new level. It takes the success of the Shiba Inu, which exploded in popularity and valuation within the Ethereum network. With its entry into the much earlier but still bullish ecosphere of the Cardano network, A SHIB gives holders access to another high-potential coin without the ridiculous gas fees and access to Cardano’s extended UTXO model. 

The A SHIB is the first Shib token to enter the ADA network and will be the third token to enter the growing blockchain platform called Cardano. The token will hit the exchange in the coming months. In the meantime, avid crypto enthusiasts can start watching out for multiple NFT projects that the A SHIB team will launch in the next few weeks. These NFTs will only accept A SHIB as payment, so it’s best to jump in early if one wants to pick up these tokens. Accordingly, this move will drive up the price of the token and the NFTs. 

Cardano is the latest open-source blockchain platform to take the world by storm, following Ethereum and Bitcoin’s footsteps. The platform began back in 2017 after being launched by Charles Hoskinson, who was also one of the Ethereum founders. Cardano’s currency unit is called ADA, quickly climbing in value over the past few months. In earlier parts of 2020, the price hovered around $0.05 per ADA. Now, it’s hovering around $1.88, even peaking at $2.83.

With the promising momentum of the ADA, A SHIB enters that sphere and hopes to ride that wave of growth. Currently, A SHIB is now available for swapping. The only way to get the A SHIB now is through their website. The one differentiating factor that A SHIB has over its predecessor, Shiba Inu, is the lower supply level. Where Shiba Inu has over 589 trillion tokens, A SHIB will only be offering 1 trillion. Up to 20% of those coins will go on the open market for public sale, while 15% will stay in a DAO treasury. A quarter of the pot, or over 250 billion, will also go to a particular wallet reserved for community ideas to help enrich the online community of the A SHIB movement. 

No one knows who is behind the coin, as the founding team chooses to stay anonymous. However, there’s no worry about the project’s legitimacy, as that’s how things work in the new peer-to-peer world of blockchain, cryptocurrency, and alternative coins. “Our desire to let the project grow organically is uninfluenced by the supporting team,” shares one of the anonymous founders on the official website. “We will say there are over five of us working hard to create a platform worth vouching for.”

A SHIB also looks to open a DAO (Decentralized Autonomous Organization) to provide some level of governance in the network. Visit the official website to learn more about A SHIB and get the latest news and updates on the A SHIB coin. 

Opinions expressed by The Chicago Journal contributors are their own.