Shiba Inu (SHIB) is a meme cryptocurrency, often referred to as the "Dogecoin killer." It was created in August 2020 by an anonymous entity known as Ryoshi. Created as an ERC-20 token on the Ethereum blockchain, SHIB leverages the security and decentralization of Ethereum while providing a vibrant community-driven ecosystem.
Shiba Inu has evolved into a broader ecosystem with multiple tokens:
- SHIB: the main token used for transactions.
- LEASH: a low-supply token designed for rewards in the ecosystem.
BONE: used for governance and paying gas fees in the ecosystem's layer two solution, Shibarium.
The Shibarium blockchain, launched to enhance transaction efficiency, reduces fees and improves scalability for decentralized applications and gaming projects. The decentralized exchange ShibaSwap also supports token trading and staking within its ecosystem.
Due to its popularity, SHIB has received significant attention thanks to its strong team ("SHIBArmy") and celebrity endorsements. However, it remains highly speculative, largely driven by sentiment and trading trends rather than intrinsic utility.
