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What Is Shiba Inu?
Shiba Inu (SHIB) is a meme-inspired cryptocurrency built on Ethereum with a growing ecosystem. Learn how it works and what makes it unique
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Updated July 21, 2025 • 3 min read
Summary
Shiba Inu (SHIB) may have started as a joke, but it didn’t stay one for long.
Nicknamed the “Dogecoin killer,” this meme-based token launched in 2020 and quickly became one of the most talked-about in the world. Built on Ethereum and powered by a passionate community, SHIB has evolved into something much bigger than a meme: it’s now part of a broader ecosystem with its own exchange, governance token, and growing utility in the crypto space.
In this guide, we’ll break down , what makes it different, and what you should know before getting involved.
What Is Shiba Inu (SHIB)?
is a decentralized cryptocurrency created to be a fun, community-powered alternative to more traditional crypto projects. It runs on the Ethereum blockchain as an ERC-20 token, making it compatible with a wide range of wallets, platforms, and .
Its mascot — a Shiba Inu dog — sparked widespread internet attention, drawing comparisons to Dogecoin. While SHIB shares the meme coin status, it’s also built with a long-term vision in mind, including its own ecosystem and governance structure.
The Shiba Inu Ecosystem
It’s useful to know the structure that drives the Shiba Inu project. This is not one coin but a whole suite of tokens with different functions.
SHIB: The native for trading and transactions.
LEASH: A limited-supply token that was pegged against the price of (but no longer), used for staking and NFT privileges.
BONE: The governance token that provides its holders with the opportunity to vote for proposals in the Shiba Inu DAO.
Taken together, these tokens power the ShibaSwap, a decentralized exchange for the SHIB world. From the platform, users can stake tokens, swap assets, and also engage in governance.
The team of Shiba Inu has also introduced and is working on Shibarium — an L2 blockchain that will help to reduce the gas fees in Ethereum and make scalability better.
How Does Shiba Inu Crypto Work?
SHIB does not have a blockchain network. Rather, it works on Ethereum, which means it can enjoy the power and programmability of one of the world’s biggest decentralized networks.
Built on Ethereum
SHIB is an ERC-20 token and therefore takes advantage of Ethereum’s developed background. It is tradable, viable for usage in smart contracts, and compatible with every wallet armed with Ethereum-based tokens.
This also enables Shib to be able to communicate with other crypto apps, NFTs, and decentralized exchanges with ease.
Pre-Mined Supply and Distribution
In contrast to Bitcoin or Ethereum, SHIB wasn’t mined by the users. Its total supply was pre-minted from the beginning.
Half of this supply was sent to Ethereum co-founder Vitalik Buterin, of which he burnt a large sum and donated the rest to charity organizations. This even had media attention and helped SHIB get into the limelight.
What Makes Shiba Inu Crypto Different?
Shiba Inu has taken a unique path among meme coins — combining internet culture with serious community development. Here’s what sets Shiba Inu crypto apart.
Decentralized Development
After its anonymous founder, Ryoshi, stepped away, the community continued building tools, governance structures, and new projects independently. Today, volunteers, developers, and token holders power much of SHIB's growth.
Vibrant Community
The SHIBArmy (the project’s fanbase) is one of the most engaged crypto communities. From social campaigns to project proposals, the community plays an active role in shaping SHIB’s future.
Ecosystem-First Vision
While other meme tokens remain single-purpose, Shiba Inu has expanded into a multi-token ecosystem with real use cases in DeFi, NFTs, and governance.
Why Is Shiba Inu Popular?
SHIB’s rise was powered by the internet. Here’s what helped it go viral:
Low entry price: With trillions of tokens in circulation, SHIB had an extremely low per-token cost, attracting casual investors and first-timers.
Social media momentum: SHIB became a trending topic across Twitter, Reddit, and TikTok, sparking memes, discussion, and rapid adoption.
Celebrity attention: Tweets from high-profile figures like Elon Musk and major media coverage added fuel to the fire.
Expanding ecosystem: The launch of ShibaSwap, NFT projects, and a DAO gave SHIB more utility than many of its meme coin peers.
However, with popularity also comes risk and volatility.
What To Know Before Buying SHIB
Shiba Inu has seen explosive growth, but that doesn’t mean it’s right for everyone. It’s essential to understand the risks before investing.
High Volatility and Speculative Nature
SHIB’s price can shift dramatically in short periods. While some investors have made quick gains, others have faced sharp losses. It’s important to approach SHIB as a speculative asset, not a guaranteed investment.
Do Your Own Research (DYOR)
Before buying SHIB or any crypto asset, research the project, its development team, roadmap, and community. Look at how the token is used, not just how it’s trending online. Responsible investing starts with education.
Where To Buy and Store SHIB
Shiba Inu is available on many major exchanges. To get started, you’ll need to:
Create an account
Fund your wallet
Search for SHIB and place your trade
Once purchased, SHIB can be stored in wallets that support ERC-20 tokens.
Final Thoughts
Shiba Inu began with the meme, but it is now a forward-thinking project with active community involvement, developing ecosystem, and high-level development plans.
Regardless of whether you want to learn, trade, or just explore novel tokens, having a basic idea of how SHIB works is a good start to your crypto journey.
Are you ready to get into the world of crypto? Discover Shiba Inu and other hot assets on and trade with confidence using trusted products, tools, and helpful guides.
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