Shiba Inu coin: 6 things to know about the cryptocurrency

SHIBA Inu coins are one of the latest cryptocurrencies to hit the market - we round up six things you need to know.

It comes as crypto fans are on the hunt for the next success story to follow Bitcoin.

Buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business.

Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.

Cryptocurrencies are also highly volatile, so the value of your assets drop rapidly if you're not careful

As always, you should never invest in something you don't understand.

1. What is Shiba Inu?

Shiba Inu coins are cryptocurrency meme tokens and allow users to hold trillions of them, according to its website.

These tokens are listed and incentivized on ShibaSwap, its own decentralized exchange.

Its website claims to have locked 50% of its total supply to Uniswap, while the remaining has been burned to Ethereum founder Vitalik Buterin.

The tokens feature the same Shiba Inu dog as Dogecoin, which has rocketed in popularity recently.