Shiba Inu（Shib）是一種以模因為靈感的加密貨幣，以shiba inu狗品種為吉祥物。

這種巨大的供應意味著，即使是相對較小的價格目標也將意味著數千億美元或萬億美元的天文市場上限。

Shiba Inu (SHIB) is a meme-inspired cryptocurrency featuring the Shiba Inu dog breed as its mascot. It began as an ERC-20 token on Ethereum, launched in August 2020 by the pseudonymous founder “Ryoshi” with the vision of creating a decentralized, community-driven project.

Shiba Inu（Shib）是一種以模因為靈感的加密貨幣，以shiba inu狗品種為吉祥物。它最初是在以太坊上的ERC-20代幣，該代幣由化名創始人“ Ryoshi”於2020年8月推出，其願景是創建一個分散的，社區驅動的項目。

Initially dubbed the “Dogecoin killer,” Shiba Inu quickly gained viral popularity during the 2021 memecoin mania, soaring in value and amassing a large following known as the ‘Shib Army.’

最初被稱為“ Dogecoin殺手”，Shiba Inu在2021年的Memecoin Mania期間迅速獲得了病毒式的知名度，其價值飆升，並積累了一個被稱為“ Shib Army”的大量追隨者。

Today, SHIB has evolved beyond its joke-coin origins into a broader Shiba Inu Ecosystem that includes a decentralized exchange (ShibaSwap), NFTs, a metaverse project in development, and even its own Layer-2 blockchain called Shibarium.

如今，Shib已經超越了其笑話起源，成為一個更廣泛的志ba INU生態系統，其中包括分散的交流（shibaswap），NFTS，開發中的元項目，甚至其自己的2層區塊鏈稱為shibarium。

With a current market capitalization around $7–8 billion, Shiba Inu consistently ranks among the top cryptocurrencies by market cap and is the second-largest memecoin (after Dogecoin) in this niche sector.

當前的市值約為7-8億美元，Shiba INU始終按市值排名最高的加密貨幣，並且是該利基領域的第二大紀念物（僅次於Dogecoin）。

Recent Developments and Ecosystem

最新發展和生態系統

One of the biggest updates has been the rollout and improvement of Shibarium, Shiba Inu’s Layer-2 network. Since launch, the development team has been fine-tuning Shibarium – and in June 2025 they are implementing a major upgrade to improve network performance.

最大的更新之一是Shiba INU的第2層網絡Shibarium的推出和改進。自推出以來，開發團隊一直在微調shibarium - 在2025年6月，他們正在實施重大升級以提高網絡性能。

According to core developer Shytoshi Kusama, the June 2025 Shibarium update will “optimize the distribution of network validator nodes, better handle transaction congestion, and provide more stable support for DeFi and NFT projects” on the network.

根據核心開發人員Shytoshi Kusama的說法，2025年6月的Shibarium更新將“優化網絡驗證器節點的分佈，更好地處理交易擁塞，並為FEFI和NFT項目提供更穩定的支持”。

This indicates the team is addressing early growing pains (such as occasional congestion) to bolster Shibarium’s scalability and reliability. Yet, as noted, early adoption has been slow – Shibarium’s TVL is tiny relative to other chains.

這表明該團隊正在解決早期增長的痛苦（例如偶爾的擁塞），以增強什葉邦的可伸縮性和可靠性。然而，如前所述，早期採用率很慢 - 相對於其他連鎖店而言，Shibarium的TVL很小。

Another headline development is Shiba Inu’s token burn initiatives. In August 2024, Shibarium introduced an automated burn mechanism tied to transaction fees: 70% of every transaction fee on Shibarium is now converted to SHIB and permanently burned (removed from circulation), with the remaining 30% retained for network maintenance.

另一個標題開發是Shiba Inu的代幣燃燒計劃。 2024年8月，Shibarium引入了與交易費用相關的自動燒傷機制：Shibarium每筆交易費用的70％現在轉化為濕骨並永久燃燒（從循環中取出），其餘30％保留了網絡維護。

This burn mechanic, activated via a hard-fork upgrade (Bor v1.1.2) on Aug. 9, 2024, was a long-awaited community request designed to gradually make SHIB more scarce.

這種燃燒的機械師是通過硬實升升級（BOR v1.1.2）激活的2024年8月9日，是期待已久的社區請求，旨在逐漸使Shib更加稀缺。

Since then, regular burns have been occurring. In May 2025 alone, roughly 320 million SHIB were burned through Shibarium transaction fees, an 18% increase in burn rate compared to the same period a year prior.

從那時起，常規燃燒就發生了。僅在2025年5月，大約3.2億芯片通過shibarium交易費用燃燒，與一年同期相比，燃燒率增加了18％。

A few months ago, weekly burns in excess of 1 billion SHIB were common, but that momentum has slowed in the past weeks.

幾個月前，每週的燒傷超過10億芯片很常見，但是過去幾週的勢頭卻放慢了。

On the ecosystem expansion front, Shiba Inu is actively working on its metaverse and gaming projects. Shib: The Metaverse, the project’s anticipated virtual world, has reportedly entered the Alpha testing phase as of mid-2025

在生態系統擴展方面，Shiba Inu正在積極從事其Metavers和遊戲項目。 SHIB：據報導，該項目的虛擬世界是該項目的預期虛擬世界，截至2025年中期已經進入了Alpha測試階段

The Shiba Inu team is laying groundwork for an in-metaverse economy; for instance, virtual land plots in the Shib metaverse will support multi-currency transactions using SHIB and its sister tokens, BONE and LEASH.

Shiba INU團隊正在為內地經濟奠定基礎。例如，Shib Metaverse中的虛擬陸地圖將使用Shib及其姐妹令牌，骨頭和皮帶支持多貨幣交易。

The team has even rolled out small teaser applications – for example, in March 2025 the Shiba Inu devs introduced a “fishing game” as part of testing the metaverse’s in-game economy systems.

該團隊甚至推出了小型預告片的應用程序 - 例如，2025年3月，Shiba Inu Devs引入了“釣魚游戲”，以測試Metaverse的遊戲中經濟系統。

These steps suggest that Shiba Inu is trying to transition from a purely meme-centric token toward a broader entertainment and DeFi ecosystem, which could drive more organic demand for SHIB if successful.

這些步驟表明，Shiba Inu試圖從純粹以模因的代幣過渡到更廣泛的娛樂和defi生態系統，如果成功的話，這可能會推動對SHIB的更有機需求。

On-chain data

鏈數據

Meanwhile, whale movements and market activity around SHIB have been notable. On-chain data indicates that large holders (whales) have been reducing their SHIB exposure in 2025, which has impacted price dynamics.

同時，SHIB周圍的鯨魚運動和市場活動是顯著的。鏈上的數據表明，大型持有人（鯨魚）在2025年一直在減少其濕骨暴露，這影響了價格動態。

Santiment data shows that the total supply of SHIB held by whale addresses (excluding exchanges) dropped from about 743 trillion at the start of the year to roughly 723 trillion by early June. In other words, whales offloaded about 20 trillion SHIB in the first half of 2025 – a significant sell-off that reflects a cautious stance by big players.

santiment數據表明，鯨魚地址（不包括交易所）持有的什布總供應從年初的大約743萬億美元降至6月初的大約723萬億。換句話說，鯨魚在2025年上半年卸載了約20萬億桿，這是一個重大的拋售，反映了大玩家的謹慎立場。

There have been some sporadic large transactions, for instance, a single day in early June saw a 24.3 trillion SHIB transfer among top wallets, the largest in six months, which drew community buzz. However, overall whale transaction volumes are down over 90% compared to early-year peaks.

例如，有一些零星的大型交易，例如，6月初的一天中，有24.3萬億的毛筆轉移在頂級錢包中，這是六個月來最大的，這引起了社區的嗡嗡聲。但是，與早年峰值相比，總體鯨魚交易量下降了90％以上。

Indicating that many whales have stepped to the sidelines after unloading. The whale exodus became evident after SHIB’s price rally in May fizzled. Whale netflows turned deeply negative (-311%) by late May and whale address counts were in a slow decline.

表明許多鯨魚在卸載後已經踏上了場外。在5月的Shib價格集會下降之後，鯨魚出埃及記變得明顯。到5月下旬，鯨魚的Netflows變成了深度（-311％），鯨魚地址計數的下降緩慢。

In practical terms, fewer large buyers in the market has meant increased selling pressure and lower

實際上，市場上的大型買家減少了銷售壓力和降低