$SHIB
Shiba Inu (SHIB) is a meme-based cryptocurrency often referred to as the "Dogecoin killer." It was created in August 2020 by an anonymous entity known as Ryoshi. Built as an ERC-20 token on the Ethereum blockchain, SHIB leverages Ethereum's security and decentralization while offering a vibrant, community-driven ecosystem.
Shiba Inu has evolved into a broader ecosystem featuring multiple tokens:
- SHIB: The primary token used for transactions.
- LEASH: A low-supply token designed for ecosystem rewards.
- BONE: Used for governance and gas fees in the ecosystem's Layer-2 solution, Shibarium.
The Shibarium blockchain, launched to enhance transaction efficiency, reduces fees and improves scalability for decentralized applications and gaming projects. The ShibaSwap decentralized exchange also supports token trading and staking within its ecosystem.
For its popularity, SHIB gained significant traction due to its strong community (the "SHIBArmy") and celebrity endorsements. However, it remains highly speculative, driven largely by sentiment and trading trends rather than intrinsic utility.
