What Is SHIB?

Shiba Inu Coin launched in 2020, riding the wave of Dogecoin's success and banking on its own viral mascot — a wide-eyed Shiba Inu dog. 

However, what started as a playful experiment has since evolved into one of the most talked-about digital assets on the cryptocurrency market.

SHIB runs on the Ethereum blockchain as an , which gives it access to smart contracts and DeFi integrations. It doesn’t have its own blockchain or use traditional mining. Instead, it leverages Ethereum’s infrastructure to offer decentralized finance tools, NFT support, and a growing set of real use cases.

Much of SHIB's rise is owed to its community. Known as the "Shib Army," this passionate group of holders and supporters helped fuel viral campaigns, awareness, and utility. SHIB's listing on major exchanges and endorsements from high-profile personalities further accelerated its growth. 

Today, the project aims to create lasting infrastructure beyond hype, including a metaverse and Layer 2 scaling solution.

How Does Shiba Inu Coin Work?

Unlike coins that rely on mining, SHIB is pre-mined, meaning all tokens were created at launch. It operates entirely on Ethereum, allowing developers to build around it using Ethereum’s smart contract framework.

Built for Community

SHIB stands out because it prioritizes community over anything else. It relies on a large network of people from all over the world who make the project progress. Art, group events, and adding to ShibaSwap are all ways SHIB holders take part in this community.

The person behind the token, using the alias "Ryoshi," selected to leave it alone to enable the natural growth of the project. SHIB continues to function with openness through public code and the input of its growing community.

Tokenomics and Burning

At the start, SHIB was created with a total of one quadrillion tokens. Many of these coins were sent to Ethereum co-founder Vitalik Buterin, who afterward donated most of them and had them burned, which took many out of circulation. 

Today, the reduce the supply and make Ethereum scarcer.

In addition, the project has added a burn portal where users can choose to get rid of their tokens, helping to control the supply. SHIB doesn’t operate by inflation or halving like Bitcoin, but the community-backed burning helps maintain a limited amount of SHIB.

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SHIB vs. Dogecoin: What Sets Them Apart?

They’re both dog-themed, and they both started as jokes — but that’s pretty much where the similarities end. 

Here’s how SHIB and Dogecoin differ:

• Blockchain: Dogecoin runs on its own chain, while SHIB is based on Ethereum.

• Supply: Dogecoin is inflationary with no cap. SHIB has a capped initial supply and active burning mechanisms.

• Utility: Dogecoin is mostly used for tipping and transactions. SHIB is tied into DeFi, governance, NFTs, and even gaming.

Where Dogecoin kept things light and fun, SHIB leaned into creating an entire ecosystem, proving that even a meme coin can grow up.

Inside the Shiba Inu Ecosystem

is now a trio of tokens and a growing decentralized network:

• SHIB: The core token used for transactions and general community utility.

• LEASH: Originally created to mirror Dogecoin’s price, it now has a limited supply and is used for staking and rewards.

• BONE: Acts as a governance token, giving holders voting rights over decisions in the ecosystem.

The SHIB universe also includes:

• ShibaSwap: A decentralized exchange for swapping and staking SHIB ecosystem tokens.

• Shibarium: A Layer 2 blockchain solution aimed at reducing Ethereum gas fees and improving transaction efficiency. This development is a major step toward making SHIB more scalable and user-friendly.

• SHIB: The Metaverse: A virtual world in development where users can buy land, interact with others, and build experiences using SHIB-related assets.

• Shiba Eternity: A collectible card game launched to introduce gamification and attract non-crypto users into the ecosystem.

All of : turning SHIB into more than a meme. It’s a decentralized ecosystem aimed at long-term innovation and community governance.

Is SHIB Worth Holding?

Shiba Inu Coin (SHIB) holds a unique spot among crypto tokens. Most people like it due to its influential online audience and its dynamism, as well as the products it develops in real life. Holding an investment depends on your reasons for investment, your comfort with taking risks, and your expectations.

SHIB isn’t expected to pay out dividends like many stocks, nor does it work as a bringing-in-money element like a typical company. Instead, it is a token managed by the community and has turned into a wide variety of systems. 

With ShibaSwap, governance using BONE, and the official launch of Shibarium and SHIB: The Metaverse, the project keeps growing past its famous meme status.

With volatility remaining high, SHIB is primarily affected by what people are saying on the internet. Many enthusiasts believe that because its use and functionality are growing, it can succeed in the long term. 

If you are interested in SHIB, first research the SHIB ecosystem, set your own goals, and be cautious when investing.

How To Buy SHIB in a Few Simple Steps

Buying Shiba Inu Coins is easier than ever. Here’s a quick step-by-step process:

• Choose a crypto platform that lists SHIB. Gemini is a great option for beginners and advanced users alike.

• Create an account and complete identity verification.

• Deposit funds via bank transfer, debit card, or other supported methods.

• Search for SHIB and place your order.

• Store your tokens securely in a wallet of your choice.

Gemini provides a smooth, secure buying experience with advanced features and institutional-grade security.

How To Keep Your SHIB Secure

Once you own SHIB, storing it properly is key to . You have two main options:

• Hot wallets: These are internet-connected wallets (apps, browser extensions, exchange wallets). Convenient for quick access, but more vulnerable to hacks.

• Cold wallets: Hardware wallets like Ledger or Trezor that store your crypto offline. They’re considered the safest option for long-term storage.

Use strong passwords, enable two-factor authentication (2FA), and never share your seed phrase.

What Can You Actually Do With SHIB?

SHIB isn’t just a coin to hold and forget. You can:

• Trade it on DEXs like ShibaSwap

• Stake it for rewards

• Use it in community-led games like Shiba Eternity

• Vote on proposals using BONE

• Participate in metaverse and NFT projects

The token’s real-world utility is still developing, but it’s clear that SHIB aims to be more than just hype.

FAQs

What is the total supply of SHIB?

SHIB started with a supply of one quadrillion tokens. However, a large portion has been burned, decreasing the active supply over time.

What is the purpose of ShibaSwap?

ShibaSwap is a decentralized exchange built for the SHIB ecosystem. It allows users to swap, stake, and farm SHIB, BONE, and LEASH tokens.

Can you stake SHIB for rewards?

Yes. Through ShibaSwap, holders can stake SHIB to earn rewards in BONE and participate in governance.

What makes SHIB different from Dogecoin?

SHIB runs on Ethereum, supports smart contracts, and is part of a multi-token ecosystem, unlike Dogecoin, which is a standalone coin.

Where can I track SHIB’s performance?

You can track SHIB on Gemini, CoinMarketCap, or any Ethereum-based blockchain explorer like Etherscan.

The Bottom Line

Shiba Inu Coin started as a meme, but has now grown into an ecosystem with several features that deserve another look. More than just an internet trend, SHIB utilizes smart contracts, gathers an enthusiastic community, and is becoming essential across DeFi and gaming.

Whether you’re interested in learning about SHIB or just want to include it in your portfolio, Gemini makes it safe and simple to manage your tokens.

Ready to dive into the Shiba Inu ecosystem? to buy, sell, and securely store SHIB today.