Shiba Inu (SHIB): The “Dogecoin Killer” That Emerged from the Meme Coin Category

Shiba Inu (SHIB), a cryptocurrency inspired by the Shiba Inu dog breed, emerged in August 2020 as a decentralized meme coin on the Ethereum blockchain. Created by an anonymous individual known as “Ryoshi,” SHIB quickly gained attention due to its mascot, which mirrors that of Dogecoin. Despite its humorous origins, Shiba Inu has developed a robust ecosystem, including its decentralized exchange, ShibaSwap, and plans for a Layer 2 solution called Shibarium. As of January 13, 2025, SHIB is trading at approximately $0.000021 per token, with a 24-hour trading volume around $371 million. The token has a circulating supply of over 589 trillion SHIB, contributing to a market capitalization exceeding $12 billion. The Shiba Inu ecosystem also includes several other tokens, and the community, known as the “Shib Army,” is renowned for its enthusiasm and active participation in the project's development.