Shiba Inu token (ticker: SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi".[1] It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. Some[who?] categorize Shiba Inu as a "meme coin."[2][3] Concerns have been expressed about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO).[4] Shiba Inu was introduced with a branding that positioned it as a potential 'Dogecoin competitor'.[1]

Quick Facts Denominations, Code ...
Shiba Inu
Thumb
Shiba Inu logo
Denominations
CodeSHIB
Development
Original author(s)"Ryoshi"[1]
White paperShibu Inu Ecosystem
Initial releaseAugust 2020; 4 years ago (2020-08)[1]
Development statusActive
Ledger
Supply limit1,000,000,000,000,000
Website
Websiteshibatoken.com
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    On 13 May 2021, Vitalik Buterin donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund.[5] Also in May 2021, Buterin donated SHIB worth $665 million to the Future of Life Institute, which focuses on regulating artificial intelligence to protect from existential risk from advanced artificial intelligence.[6]

    In October 2021, the market price of the cryptocurrency experienced a significant rise, reportedly increasing by 240% within a week.[7] However, at the beginning of November, it faced a decline, reportedly losing approximately 55% of its value by the end of the month.[8][9][10]

    See also

    References

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