Shiba Inu (SHIB) is currently priced at $0.00001151, with a 24-hour trading volume of $140.53 million. Over the past day, its price has remained relatively stable with a change of +0.00%. The circulating supply of SHIB is 589.24807 trillion tokens, and its maximum supply is 589.5527 trillion.
What Is Shiba Inu (SHIB)?
SHIB is a decentralized, community-driven experiment within the Shiba Inu ecosystem. Unlike Bitcoin, which was designed with scarcity in mind, SHIB was intentionally created to be abundant, with a total supply of one quadrillion tokens. This allows users to hold billions or even trillions of SHIB.
A Brief History of Shiba Inu
Originally introduced as a meme coin, Shiba Inu has evolved into a broad decentralized ecosystem. During its initial distribution, 50% of the total supply was sent to Vitalik Buterin’s Ethereum wallet. SHIB’s price skyrocketed from an all-time low of $0.000000000056 to an all-time high of $0.000084—an increase of over 150,000 times.
Subsequently, Vitalik donated 10% of his SHIB holdings to support COVID-19 relief efforts in India and burned the remaining 40%. That donation was valued at approximately $1 billion at the time, making it one of the largest charitable contributions in crypto history.
How Does Shiba Inu Work?
The Shiba Inu team launched ShibaSwap, a decentralized exchange that introduced two additional tokens: LEASH and BONE.
- LEASH is a scarce cryptocurrency used to provide rewards on ShibaSwap.
- BONE is a governance token that allows holders to vote on proposals in the Doggy DAO.
SHIB was created as an alternative to Dogecoin (DOGE)—the original dog-themed meme cryptocurrency. Built on Ethereum, SHIB is compatible with the extensive Ethereum ecosystem, including Ethereum wallets and decentralized exchanges (DEXs). It can also be used across various Ethereum-based DeFi applications such as lending platforms, savings products, and NFT marketplaces.
What Is Shiba Inu Used For?
The Shiba Inu cryptocurrency ecosystem supports a variety of projects and utilities, including:
- ShibaSwap: A decentralized exchange for trading tokens.
- DoggyDAO: A decentralized autonomous organization for community governance.
- NFT Art Incubation Program: Initiatives to support digital artists and NFT creators.
This expanding functionality shows SHIB’s transition from a meme-based token to a project with tangible use cases.
Frequently Asked Questions
How can I buy Shiba Inu (SHIB)?
You can purchase SHIB on major cryptocurrency exchanges. It’s often available for trading against USDT, BTC, or ETH. Always use a reputable platform and consider storing your SHIB in a secure wallet after purchase.
How is Shiba Inu mined?
SHIB is not mined. It is an Ethereum-based ERC-20 token, meaning it was pre-mined and distributed during its launch. New tokens cannot be created through mining.
How many Shiba Inu (SHIB) coins are there?
The total maximum supply of SHIB is 589.5527 trillion tokens. The circulating supply is slightly lower, at approximately 589.24807 trillion.
Where can I buy Shiba Inu (SHIB)?
SHIB is listed on numerous centralized and decentralized exchanges. Some popular options include Binance, Coinbase, and ShibaSwap. Always do your own research to choose a platform that fits your needs 👉 compare crypto exchanges here.
What wallet can I use to store SHIB?
Since SHIB is an ERC-20 token, it can be stored in any Ethereum-compatible wallet. Popular options include MetaMask, Trust Wallet, and Ledger hardware wallets. Make sure to use a wallet that gives you full control of your private keys.
Shiba Inu continues to grow beyond its meme coin origins, building a functional ecosystem with DeFi and NFT utilities. Whether you're interested in trading, governance, or digital art, SHIB offers multiple avenues for participation. For those looking to dive deeper into token trading and ecosystem growth 👉 explore advanced trading tools.