Shiba Inu: An Ethereum-Based Memecoin with Growing Utility
Shiba Inu (SHIB) is an Ethereum-based cryptocurrency inspired by Dogecoin. Launched in August 2020 by an anonymous developer named Ryoshi, it began with a supply of 1 quadrillion tokens. Half of these tokens were sent to Ethereum co-creator Vitalik Buterin, who donated a significant portion to the India Covid Crypto Relief Fund and burned 40% of the total supply.
SHIB’s integration with Ethereum allows for applications like ShibaSwap, a decentralized exchange. Plans include a future NFT platform and a DAO-based governance system. This positions SHIB for broader utility in the crypto space. In the current market cycle, SHIB’s expanding ecosystem adds to its appeal.
