Launch Date:
$SHIB was created in August 2020 by an anonymous developer named Ryoshi.
Initial Purpose:
#SHIB🔥🔥 Inu was marketed as a "Dogecoin Killer," seeking to capitalize on the popularity of Dogecoin ($DOGE ) and meme-type cryptocurrencies. Unlike Dogecoin, Shiba Inu is a token based on the Ethereum blockchain (ERC-20), giving it access to the Ethereum DeFi ecosystem.
Launch Strategy:
1 quadrillion tokens was the initial issuance. Ryoshi sent 50% of the tokens to the founder of $ETH , Vitalik Buterin, as a marketing strategy. Vitalik donated a large portion of the tokens to a COVID-19 relief foundation in India and burned the rest.
Keys to Success:
Hype and community: Shiba Inu managed to build a massive community (the "ShibArmy") that drove the narrative that "anyone can get rich." ShibaSwap: The creation of its own DeFi platform allowed for staking, yield farming, and other utilities. Listings on exchanges like #binance and Coinbase amplified its exposure.
Exponential Growth:
In 2021, during the cryptocurrency boom, Shiba Inu increased its value by more than 40,000,000%, turning small initial investments into fortunes.