Shiba Inu (SHIB) is an Ethereum-based cryptocurrency that gained popularity in the decentralized finance (DeFi) space. It was created by an individual or group operating under the pseudonym "Ryoshi" in August 2020. The project was inspired by Dogecoin (DOGE) and aimed to create a decentralized ecosystem around the Shiba Inu meme.

The SHIB token quickly gained attention due to its community-driven nature and its mascot, which is based on the Shiba Inu dog breed popularized by internet memes. The project gained further traction with the introduction of additional tokens such as Leash (LEASH) and Bone (BONE), which were designed to provide utility within the ShibaSwap decentralized exchange ecosystem.

However, it's important to note that the project has faced scrutiny and criticism, particularly regarding its tokenomics and the anonymity of its developers. Despite this, SHIB has amassed a dedicated following and has been listed on various cryptocurrency exchanges.