What is Shih Tzu?
Shih Tzu is a meme coin. Meme-coins are cryptocurrencies that appear thanks to influencers, memes, and photos that are popular on the Internet. Interest in them has begun to increase in recent years – after the "pioneer" Dogecoin, many new meme-coins have appeared.
It is believed that they do not have any special value, like the more famous altcoins or Bitcoin. Dogecoin was born thanks to the famous Shiba Inu dog breed, which gave rise to the Doge meme. DOGE coin uses a separate blockchain, which distinguishes this meme-coin from many of its analogues.
Dogecoin started as a joke. But by January 2021, capitalization reached a peak of $9 billion, and Elon Musk joined the project – he helped the broad masses to adapt this cryptocurrency.
Shibu Inu Coin was launched as an experiment in "decentralized spontaneous community creation." Subsequently, the value of the mem-token increased by 2,000,000%. Despite many difficulties, the project continues to maintain popularity.
Memecoins can appear literally daily thanks to influencers, news and other current events. In June 2021, memecoins accounted for almost 3% of the total cryptocurrency market capitalization, which was about $38 billion.
Why Shih Tzu Is Meme Coin?
Similar to Shibu Inu, the Shih Tzu project is an experiment in building a decentralized user community. Project users have the opportunity to own billions and even trillions of native Shih coins. Shih is an ERC-20 token that underpins the Shih Tzu blockchain ecosystem. The token, launched in 2021, was one of the first crypto coins with hyperinflationary supply, allowing the project to scale amid growth and mass adoption.
The name of the project comes from a Chinese Shih Tzu breed. According to legend, once upon a time the Tibetan Dalai Lama gave a few of these dogs to the emperor of China. Geneticists believe that this is one of the oldest breeds on earth. The name Shih Tzu translates as "little lion".
How Does Shih Tzu Crypto Work?
50% of the total token supply (1,000,000,000,000,000 Shih ) was locked up in the Uniswap pool, the other half was sent to Vitalik Buterin, who burned them.
In the world of memecoins, sometimes it happens like in classic financial pyramids: developers hold a significant part of the coins, waiting for as many people as possible to purchase their cryptocurrency, and then quickly sell all their holdings. And while the value is falling, the creators of the tokens make huge money. However, there is only the user community behind the Shih Tzu project, so there are no tokens owned by the developers or the team.
Users jointly develop the project, making decisions about its future. All tokens are sold on the open market – thanks to this, their fair and fair distribution is possible. The project promises users a permanent reward. Token holders receive profit from each transaction.
The mission of the project is to improve the lives of animals. Different tokens are created and sold on the NFT platform. These can be digital art objects, game items and real world assets. Part of the proceeds goes to animal protection organizations and people become more aware of the sad fate of homeless animals.
The project plans to bring more than 10 million users to the metaverse, the native cryptocurrency of which will be the STZU token. All payments will be made in this crypto.
The Shih Tzu project is creating a large database of scanned objects and people that will allow users to move into the metaverse. Given the innovative nature of this project, we can say that Shih Tzu is a quite promising investment.
