Shiba Inu (SHIB) Price

Shiba Inu (SHIB) is an Ethereum token that began as a Dogecoin parody and then did something parodies rarely do: it built infrastructure. Around SHIB now sit a decentralised exchange, two further tokens and Shibarium, its own Layer-2 network.

The story behind Shiba Inu

An anonymous founder called Ryoshi launched SHIB in August 2020 with a quadrillion tokens and a gesture that became legend — half the supply was sent to Vitalik Buterin's wallet. In May 2021 Buterin burned 90% of it and donated the rest, roughly a billion dollars, largely to India's Covid relief effort. That single act removed the overhang, made global news and turned a meme into a phenomenon. Ryoshi then deleted everything and disappeared, leaving a pseudonymous team to build ShibaSwap, LEASH, BONE and, in 2023, Shibarium.

What SHIB is used for

SHIB trades and is held speculatively, but it is also staked in ShibaSwap, burned continuously through ecosystem mechanisms, and used as the consumer-facing asset for Shibarium, where BONE pays gas. A widening set of merchants accept it through payment processors. Realistically, most demand is cultural rather than functional — the community treats holding as membership.

Shiba Inu in the market today

SHIB is among the largest meme assets by market capitalisation and one of the most widely held tokens by wallet count. The supply is enormous, so burns move the needle slowly, and the honest risk is that meme cycles rotate: the ecosystem build-out is a hedge against exactly that, and how well it works is still an open question.