What Is Shiba Inu?

Adekunle Joshua

Shiba Inu was created by an anonymous founder named Ryoshi, who was testing community governance in August 2020.

source-Anayltics Insight

The concept of community governance involves making decisions through voting in blockchain projects, and Shiba Inu was created with this in mind.

source-Ecometrics Times

Shiba Inu was launched with an initial supply of 1 quadrillion tokens in circulation


In May 2021, Shiba Inu gained significant attention when Ryoshi transferred half of its tokens to Vitalik Buterin, the Ethereum founder. This move contributed to the token's increased value that year.


However, Vitalik Buterin sold 10% of the SHIB tokens he received and donated the proceeds to charity.

source-News BTC

Buterin also burned 90% of the tokens. This meant that those tokens were sent to a wallet with an undisclosed address, never to be used again.


Currently, SHIB has a total supply of 589T tokens in circulation. Its rapid growth has posed a challenge to another popular meme token, i.e. Dogecoin.


SHIB's success isn't solely due to Vitalik's actions but the token's success can also be attributed to its unique features i.e. smart contracts functionality.


SHIB holders can create tokens and perform other operations like staking and creating Defi apps.

source-Anayltics Insight

Holders can also lend their tokens to others and receive fees in return.


SHIB is poised to continue growing and making a name for itself in the crypto world.

source-Great Learning