Shiba Inu (SHIB) is a cryptocurrency that features the Shiba Inu dog. It is an Ethereum-based token, compatible with the Ethereum ecosystem, and designed to be a decentralized, community-driven project. The creator, Ryoshi, aimed to move away from rigid social structures and traditional mindsets, giving power back to the “average person.”
Shiba Inu is the main currency, with a total supply of 1 quadrillion. The developer locked 50% of the supply in Uniswap for liquidity purposes, while Vitalik Buterin held 50% of the remaining 50%. He sold some of his tokens to support COVID-19 relief efforts in India. The remaining 40% was burned, reducing the possible amount available to users.
The Shiba Inu ecosystem includes three tokens: Shiba (SHIB), Leash (LEASH), and Bone (BONE), which represent the other sides of the ecosystem. Other notable features include ShibaSwap, a decentralized exchange, and Shiboshi, NFTs generated by Shiba Inu.
Shiba Inu is considered a meme coin, but it has rallied significantly in value, adding over 500% to its value over the past three months. The rise is attributed to various