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Shiba Inu

Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." According to its whitepaper, Shiba Inu was created with the intention of creating a "100% community-led" cryptocurrency. Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-based mining algorithm. Shiba Inu is widely considered to be a "memecoin" due to its high volatility and network effect, driven by influential commentators like Tesla CEO Elon Musk.

The cryptocurrency Shiba Inu was created in August 2020 by an anonymous person known as "Ryoshi."

Shiba Inu aims to be a 100% community-led, decentralized cryptocurrency which seeks complete independence from centralized authorities and takes pride in that it was not founded from an existing community. 

SHIB exists on the Ethereum blockchain because Ryoshi viewed it as a well-established, secure, and decentralized network that would allow the Shiba Inu project to be developed with zero outside regulation. 

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Scrypt-based mining algorithm. 

When SHIB was created, 1 quadrillion tokens were minted. SHIB’s founder sent 50% of the total supply to Ethereum co-founder Vitalik Buterin, who then burned 90% of his holdings by sending the tokens to a dead blockchain address. Buterin said he’d donate the remaining 10% to charity. 

The remaining supply, which wasn’t sent to Buterin, is locked in Uniswap, which is a decentralized finance protocol used to exchange cryptocurrencies. 

The Shiba Inu community considers the crypto to be a "Dogecoin Killer" because it has the ability to top its memecoin rival's market cap without ever crossing the $0.01 mark. 

Shiba Inu is widely considered to be a memecoin due to its high volatility and potential risk, as well as its network effect, driven by influential commentators like Tesla CEO Elon Musk.

Ethereum

The Shiba Inu (SHIB) network development team has dramatically improved the Shibarium network, according to a post from the Shibarium network's X account. The work reduces the token bridging time to Ethereum from seven days to roughly 45 minutes, aiming to enhance Shibarium's operational efficiency and the overall user experience.

Shibarium's New Checkpoint Mechanism Cuts Ethereum Bridging Time

Bitcoin

Dogecoin

Cryptocurrency markets traded within a tight downward range on Wednesday, as traditional markets had a rocky trading day with increased volatility. Prices as of 4:00 p.m.

Bitcoin, Ethereum, Dogecoin Grind Lower; Shiba Inu Outperforms: 'Price Rallied For 1 Year After Election,' Trader Says

Popular “Dogecoin Killer” Shiba Inu (CRYPTO: SHIB) followed other dog-themed meme coins upwards with a 5% spike in early Wednesday morning trading hours. What Happened: SHIB is up 5% to trade around $0.00002732 at the time of writing.

'Dogecoin Killer' Shiba Inu Spikes 5%: Trader Sees 'SHIB Season' And This Data Point Could Mean He's Right

dogwifhat

Popular Solana (CRYPTO: SOL) meme coin Dogwifhat (CRYPTO: WIF) is up 34% over the past seven days, allowing a trader to cash out their substantial gains. What Happened: On-chain analytics firm Lookonchain shared on Wednesday that the trader initially spent $5,879 to acquire 6.1 million WIF tokens on Dec. 8, 2023.

'Shiba Inu Killer' Dogwifhat Nets Trader 1,000x Gain: $1.5M Cashed Out, $5.5M Left To Go

A long-time holder of Shiba Inu (SHIB) is looking at big profits after suddenly selling the memecoin, on-chain data shows. Blockchain tracking firm Lookonchain notices that one patient investor sold more than 48 billion SHIB for a 419x gain after holding onto the digital asset for more than three years.

Dormant ‘Diamond' Hand Shiba Inu Trader Prints 419X Gain After Holding for 3.5 Years: Lookonchain

A rally in meme tokens such as dogecoin and shiba inu is primarily driven by Asian traders in response to bullish sentiment around ether exchange-traded funds (ETFs), one trader said.

Bitcoin, Ether Prices Ease as SHIB Drives Gains in Meme Tokens

On a day when blue-chip currencies dipped lower, memecoins continued to show strength, led by Shiba Inu and dogwifhat. What Happened: Solana (CRYTPO: SOL)-based dogwifhat emerged as the market's third-largest gainer, and the best-performing memetoken in the last 24 hours.

Shiba Inu, Dogwifhat Post Double-Digit Gains As Memecoins Shrug Off Dips In Bitcoin, Ethereum: What's Going On?

The memecoin market is experiencing a resurgence, with two canine-themed tokens, Floki (CRYPTO: FLOKI) and Dogwifhat (CRYPTO: WIF), leading the charge. Floki's Meteoric Rise Floki, a cryptocurrency inspired by the Shiba Inu breed and self-branded as the "Doge Killer," is embarking on its most ambitious marketing campaign to date.

Floki And WIF Bite Off 22% And 12% Daily Gains, As Dogecoin And Shiba Inu 'Killers' Take The Dog Coin Wheel

Pseudonymous cryptocurrency trader Cold Blooded Shiller sheds light on the unusual recent performance of Shiba Inu (CRYPTO: SHIB), hinting at an upcoming bigger price move for SHIB. What Happened: Cold Blooded Shiller observed that $SHIB has shown “unusual” performance, noting that “it's positioned very well” on the high-time frame.

Shiba Inu Proves 'Very Strong In Comparison To DOGE,' Trader Says: 'I Think It Sends'

A Shiba Inu (CRYPTO: SHIB) trader's patience paid off when they made a fortune after selling the tokens they held for nearly 40 months. What Happened: According to an X post by on-chain tracking platform Lookonchain on Monday, a trader who had been inactive for 3.5 years sold his Shiba Inu tokens at a profit.

Shiba Inu Investor Turns $2,625 Investment In 'Dogecoin Killer' To $1.1M Afer 3.5 Years Of Inactivity

The investor spent just two ETH on the SHIB in 2021 before holding onto the tokens for three-and-a-half years.

Investor turns $2,700 of Shiba Inu into $1.2 million by holding it for over three years

Shiba Inu (SHIB) price has maintained its horizontal trend and is consolidating above the support at $0.00002200 but below the resistance at $0.00002600.

Shiba Inu Loses Value As It Falls Into The Bearish Trend Zone

Pepe

In a significant milestone, frog-themed memecoin Pepe (CRYPTO: PEPE) hit $7 billion in market cap, with $4 billion added in May alone. What Happened: PEPE became just the third memecoin after blue-chip currencies like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) to achieve this feat.

Pepe Becomes Only The Third Memecoin After Dogecoin And Shiba Inu To Reach $7B Market Cap, Adds $4B In May Alone

Popular canine-themed meme coins dogecoin (DOGE) and shiba inu (SHIB) spiked Friday after Elon Musk tweeted about the passing of Kabosu, the dog that inspired the tokens.

DOGE, SHIB Spike After Elon Musk Tweet's About Mascot Dog's Passing

Shiba Inu (CRYPTO: SHIB) has seen its burn rate spike amid its founder hinting at the prospect of a Shiba Inu ETF. What Happened: Shibburn data shows the burn rate spiking to 548.9% over the past 24 hours, with a total of 12.1 million coins burned.

'Dogecoin Rival' Shiba Inu Burn Rate Soars 549% As Founder Teases Shiba Inu ETF Prospects

In anticipation of a possible Ethereum (CRYPTO: ETH) spot ETF approval, crypto researcher The DeFi Villain stirred excitement by reminiscing about the unprecedented bull run and 2021 alt-season, suggesting that investors might need to prepare for similar market dynamics soon. What Happened: The DeFi Villian, aka VIKTOR, suggests "animal spirits" could soon reignite crypto markets if an Ethereum spot ETF gains approval.

An Ethereum ETF Could Return 'Animal Spirits' To Crypto Reminiscent Of The 10x DOGE, SHIB Runs In 2021, Predicts Trader

Shiba Inu (CRYPTO: SHIB) is benefiting from market optimism and a rising burn rate, prompting traders to foresee an upcoming price rally. What Happened: Shibburn data reported a burn rate of 434.6% in the past 24 hours, with more than 8 million coins burned in the past 10 hours alone.

'Dogecoin Killer' Shiba Inu Burn Rate Surges 435%, Trader Predicts 210% Price Explosion Ahead

The price of Shiba Inu (SHIB) has been hovering between $0.00002100 and $0.00003200 since March 4, 2024.

Shiba Inu Holds Above $0.00002500 And Continues To Rise Steadily

Former President Donald Trump is now accepting cryptocurrency for official campaign donations, extending on his recent support for the sector in an event with owners of one of his NFT collections. What Happened: In early May, Trump showed his support for the cryptocurrency sector and said that his campaign would accept crypto donations in the future.

Trump Accepts Cryptocurrency Donations In Bitcoin, Ethereum, Shiba Inu, Dogecoin And More, Says MAGA Supporters 'Will Build A Crypto Army'

The former president's campaign said this marks the first time a major party Presidential nominee has embraced cryptocurrency for donations.

Trump campaign to accept crypto donations, including dogecoin and shiba inu

Bonk

Memecoins took center stage on one of the best days for the cryptocurrency market, with the likes of Pepe (CRYPTO: PEPE) and Bonk (CRYPTO: BONK) turning out to be the highest gainers. What Happened: The market rallied on higher expectations of an Ethereum (CRYPTO: ETH) spot ETF approval by the SEC, resulting in the highest market cap growth in three months, according to Santiment.

Bonk, Pepe Outstrip Gains Of Bitcoin, Ethereum Amid Searing Hot Rally — Beat Biggies Dogecoin And Shiba Inu In Trading Volumes

So far, 2024 has undeniably been the year for memecoins. Countless new tokens have been released, and a handful of them have touted gains to the magnitude of thousands of percent.

Shiba Inu (SHIB), Pepe (PEPE), and This Trump-Themed Memecoin Have Outpaced Bitcoin This Week

A Shiba Inu (CRYPTO: SHIB) whale turned $1.68 million into $4.88 million after more than two years amid Shibarium's key metrics showing signs of improvement. What Happened: Spot On Chain noted a whale making a substantial profit after they initially purchased 199 billion SHIB, with an estimated cost of $1.68 million, between October 10, 2021, and September 11, 2023, from Coinbase and a decentralized exchange.

This Patient Shiba Inu Whale Pocketed $3.2M After Waiting 2.5 Years

Shytoshi Kusama, the mysterious lead developer of the Shiba Inu (CRYPTO: SHIB) project, lauded the work of the team instrumental in bringing the ecosystem's decentralized exchange ShibaSwap to the layer-2 network, Shibarium. What Happened: In a post on social platform X, the pseudonymous personality, also believed to be the co-founder of Shiba Inu, wrote that he is proud of the efforts put in by the team in linking the two of the ecosystem's biggest platforms.

Shiba Inu's Lead Developer Shytoshi Kusama Lauds Team Behind ShibaSwap's Integration With Shibarium Network: 'So Much More In Store'

Shiba Inu (CRYPTO: SHIB) prompted bullish analysis from traders amid its decentralized exchange ShibSwap launching on Shibarium. What Happened: Heavily followed crypto trader Cold Blooded Shiller, in an Wednesday tweet, noted that Shiba Inu is ready to make a move.

News for Shiba Inu Crypto (SHIB)