Shiba Inu

What is Shiba Inu?

Based on the Ethereum network, the Shiba Inu token (SHIB) is a decentralized memecoin. It was first introduced as a prank to take on Dogecoin. The concept for the name came from the Japanese breed of dog, which served as Dogecoin's initial logo. A community-driven initiative that has grown into a multibillion-dollar undertaking is the Shiba Inu token.

Coins and tokens differ from one another. Shiba Inu is a token, a cryptocurrency created on top of an existing blockchain. Whereas, Dogecoin is a coin, a cryptocurrency that operates on its blockchain. High volatility is a problem with a meme token like the Shiba Inu. With a market cap above $6 billion and a total circulating supply of 549 trillion, Shiba Inu is a market leader (and growing). Its worth is mostly determined by its cultural relevance rather than technological advancement.