What Is Shiba Inu?

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

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

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

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In May 2021, Shiba Inu gained significant attention when Ryoshi transferred half of its tokens to Vitalik Buterin

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

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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

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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

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

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

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