Shiba Inu (SHIB): Everything You Need to Know

Shiba Inu Team Member Makes Highly Anticipated Announcement Regarding Shibarium
Source: Coin Cloud

Shiba Inu has garnered considerable attention as one of the most popular meme coins. This cryptocurrency has played a significant role in reshaping the perception and future of meme coins. Despite Dogecoin being referred to as the “king of meme coins”, Shiba Inu has gained traction due to its notable price performance and advancements.

Initially, Shiba Inu did not receive widespread recognition when it was launched. However, its value surged when meme coins began to gain popularity. Early investors in Shiba Inu were able to reap substantial returns, with an astonishing 640607.02% increase on their investment when it reached its all-time high of $0.00008845 on October 28, 2021.

Check out: What is Dogecoin (DOGE)? How Did the Meme Coin Frenzy Begin?

Shiba Inu in a nutshell

Basically branded as the “Dogecoin Killer,” SHIB was created by an anonymous person called “Ryoshi.” The meme coin was initially listed on ShibaSwap after its inception in August 2020. Following its listing on Coinbase on Sept. 17, 2021, the price of SHIB shot up by 40% on the following day.

Vitalik Buterin, the co-founder of Ethereum, received 50% of the SHIB supply from Ryoshi. Buterin burned 90% of his share and donated the rest to India’s COVID relief fund.

Source: Analytics Insight

The SHIB price experienced a significant upward trajectory due to the sustained endeavors of the SHIB community in creating practical use cases for the Shiba Inu token. It also resulted in the development of a complete Shiba Inu ecosystem. The developers have been relentlessly working on numerous projects, including the launch of the Shiba Eternity game and the burn endeavor. The team is also working on the launch of Shibarium and the SHIB metaverse.

SHIB price performance

SHIB hit its all-time high on October 28, 2021. The meme coin breached $0.00008845 before falling to its current price. According to CoinMarketCap data, SHIB is 88.32% down from its all-time high.

Source: CoinMarketCap

SHIB has a circulating supply of 589,542,725,958,801 coins and has provided its investors with an ROI of 640607.02%.

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