Shiba Inu (cryptocurrency)
Decentralized cryptocurrency
From Wikipedia, the free encyclopedia
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 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, as frenzied buying by retail investors took place around November 2021, motivated by fear of missing out (FOMO).[4] Shiba Inu was introduced with a branding that positioned it as a potential 'Dogecoin competitor'.[1]
Shiba Inu logo | |
| Denominations | |
|---|---|
| Code | SHIB |
| Development | |
| Original author | "Ryoshi"[1] |
| White paper | Shibu Inu Ecosystem |
| Initial release | August 2020[1] |
| Development status | Active |
| Ledger | |
| Supply limit | 1,000,000,000,000,000 |
| Website | |
| Website | shibatoken |
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]
