Shiba Inu (SHIB )

Launched in August 2020, Shiba Inu ($SHIB ) was inspired by the Dogecoin phenomenon and quickly became a cultural meme coin in its own right. Initially, SHIB started with a market cap of approximately $40,000, but it soon gained traction, reaching a peak market cap of around $41 billion in May 2021—a phenomenal increase of over 102,500%. This explosive growth was largely driven by retail investors flocking to the “Doge killer” narrative.

Shiba Inu operates on the Ethereum blockchain, utilizing the ERC-20 token standard. The total supply of SHIB was set at 1 quadrillion tokens, but roughly 410 trillion were locked in Uniswap, with 50% sent to Ethereum co-founder Vitalik Buterin, who burned a significant portion. With a current trading range around $0.00001, SHIB’s affordability makes it attractive for speculative investors. Its community initiatives, such as the ShibaSwap decentralized exchange, foster further engagement. As meme coins continue to dominate social media, the potential for SHIB to gain legitimacy as a payment option or investment vehicle remains a hot topic among crypto enthusiasts.