What Is Shiba Inu?

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

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

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

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

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

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