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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.

Increased transactions on the Shibarium blockchain will lead to a higher burn rate for the SHIB token, reducing its circulating supply.

SHIB to Get More Scarce as Key Exchange Expands to Shibarium

On May 15, the development team for the meme token project SHIB announced that the decentralized exchange (dex) Shibaswap has been ported to the Shibarium blockchain. SHIB's lead developer detailed that Shibaswap's trading platform is now accessible to users of both the Ethereum and Shibarium networks.

Shibaswap Migrates to Shibarium Network, Expanding Access to 2 Chains

Bitcoin

Dogecoin

Ethereum

Solana

Crypto trader Intuitio declared the current market downturn a "bear trap," comparing it to the 2021 summer bear trap while noting the stronger positions of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) this time around. What Happened: Intuitio asserts that the present summer bear trap closely mirrors that of 2021.

Why This Crypto Market Is 'A Bear Trap' And Which Coins This Trader Is Backing

Chainlink

A closely followed crypto strategist believes that astronomical gains are on the horizon for an altcoin initially built on the Ethereum (ETH) blockchain.

Trader Predicts 1,660% Rally for Under-the-Radar Altcoin, Updates Outlook on Shiba Inu and Chainlink

Shiba Inu (SHIB) prices are trending sideways below the moving average lines.

Shiba Inu Holds Above $0.00002060 And Continues Its Sideways Pattern

Shiba Inu (CRYPTO: SHIB) is riding the GameStop frenzy and is further buoyed by optimism from the ecosystem's strong metrics. What Happened: K9 Finance DAO, Shiba Inu's official liquid staking partner, has initiated a new proposal that could result in the burning of 410 million KNINE tokens.

'Dogecoin Killer' Shiba Inu's Liquid Staking Partner To Burn 400 Million KNINE Tokens

The return of "Roaring Kitty" has shaken up the equities markets, but could memecoins be next?

Roaring Kitty returns, putting meme stocks and memecoins back into focus

Shiba Inu (CRYPTO: SHIB) is seeing fundamental developments that might lead to a potential price breakout. What Happened: Crypto trader Javon Marks foresees Shiba Inu reaching and surpassing its all-time high of $0.000088598, which would imply a price appreciation of over 282% from current levels.

'Dogecoin Killer' Shiba Inu Pushes Mainstream Adoption And Is On The Verge Of '4X Breakout', Says Trader

With a staggering $50.7 billion valuation of the meme coin market, Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) lead the table with more than half of the valuation. A technical analysis assisted by Benzinga Labs for the Simple Moving Average (SMA) and Relative Strength Index (RSI) indicators highlights the upcoming trend for the meme coins.

What Does Technical Analysis Say About Dogecoin And Shiba Inu?

Bonk

Crypto trader Unipics, also known as “Bonk Guy,” shared his bullish outlook on Bonk (CRYPTO: BONK), forecasting an imminent explosive rally. What Happened: “Bonk guy” attributes BONK's recent weakness, particularly on weekends, to the ongoing vesting of tokens to OpenBook users.

'Shiba Inu On Solana' Bonk In For An 'Explosive Rally,' Millionaire Trader Predicts

dogwifhat

Since its launch in 2013, DOGE has not done much to add value to the ecosystem. However, the token has seen some of the largest returns of any asset over the past decade.

Analyst Says Dogecoin(DOGE) Is a 'Crapshoot,' Could These 3 Meme Coins Have Higher Returns?

Shiba Inu (CRYPTO: SHIB) is clawing back losses with an increasing burn rate and key statistics of Shibarium witnessing significant growth. What Happened: Shibburn data reveals a 397% burn rate surge in the past 24 hours, with 24.2 million coins in a single transaction burned.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes Almost 400%, Marketing Lead Points Out '3x On SHIB' If You Purchased Last Year

VanEck's meme coin index made a splash in the crypto community, prompting traders to point to the growing mainstream adoption of meme coins. What Happened: Market Vector announced the launch of its MarketVector Meme Coin Index with the symbol MEMECOIN, covering the six largest meme coins.

VanEck Meme Coin Index With DOGE And SHIB Would 'Outperform 99% Of People If You Left It Alone,' Says Trader

Pepe

The investment management firm Vaneck has expanded into the meme coin sector with the launch of its new Marketvector meme coin index, “MEMECOIN.” This index, available through Marketvector Indexes—a company focused on digital assets and various other sectors—monitors the performance of the leading six meme coins.

Vaneck Introduces Meme Coin Tracking With ‘MEMECOIN' Index

Investment giant VanEck, known for its exchange-traded funds (ETFs), has taken a plunge into the world of meme coins with the launch of the MarketVector meme coin index called “MEMECOIN”. What Happened: This index tracks the performance of the six largest meme coins, a category of cryptocurrencies often inspired by internet jokes and cultural references.

Bitcoin ETF Issuer VanEck Launches 'MEMECOIN' Index, Includes DOGE, SHIB And 4 More Meme Coins

Everyone's favorite memes have taken the biggest hit today as the wider market sees a moderate drawback in comparison.

Meme Coins DOGE and SHIB See Losses as Ethereum Drops 4%

Shytoshi Kusama, the mysterious lead developer and co-founder of the Shiba Inu (CRYPTO: SHIB) project, dropped a cryptic message on social platform X, sparking a flurry of speculations within the community. What Happened: On Tuesday, the suspenseful figure released a gif with the word “EVITA," a Spanish equivalent of the female name Eva, which translates to "life" or "living one.

Shiba Inu Lead Shytoshi Kusama Shares Cryptic 'EVITA' Teaser: A Sign of Potential Investments In Argentina?

Shiba Inu (CRYPTO: SHIB) has experienced a surge in large transaction volume and new accounts following a network upgrade that has made Shibarium even faster. What Happened: Digital asset lender Nexo announced the listing of Shiba Inu on its platform, highlighting the coin's transition from a playful meme to a symbol of community empowerment.

Shiba Inu's Whale Transactions Spike 383% And New Account Creations Soar 15X On Nexo Listing Announcement

Crypto trader Intuitio expressed strong conviction in the potential of meme coins, touting the potential of Pepe (CRYPTO: PEPE) and Dogwifhat (CRYPTO: WIF), while dismissing the prospects of Shiba Inu (CRYPTO: SHIB). What Happened: Intuitio took to his X account to state how “easy” the meme coin space is.

Dogecoin Is The 'OG' Meme Coin And A 'Billboard' For PEPE And WIF, But: 'Forget SHIB,' Trader Exclaims

Cryptocurrency analysts of Coinidol.com report, the price of Shiba Inu (SHIB) is trending sideways due to traders' ambivalence towards the market direction.

Shiba Inu Continues Sideways Trend Due To Traders' Ambivalence

Shiba Inu (CRYPTO: SHIB), the meme cryptocurrency proclaimed as the ‘Dogecoin (CRYPTO: DOGE) Killer,' saw a drastic decline in its burn rate in the last 24 hours, slowing down the rate at which tokens are pushed out of circulation. What happened: In an X post on Tuesday, Shiba Inu's official burn tracker, Shibburn reported the burning of 12.47 million coins in the 24-hour timeframe, marking a drastic 84% drop.

'Dogecoin Killer' Shiba Inu's Burn Rate Dips 84% Amid Sluggish Shibarium Transactions

Dogecoin (DOGE) competitor Shiba Inu (SHIB) is announcing the completion of its highly anticipated Shibarium hard fork. In a new thread on the social media platform X, the team behind the dog-themed meme asset says they have officially completed the Shibarium hard fork, a move traders have been expecting since last year.

Dogecoin Rival Shiba Inu (SHIB) Completes Highly Anticipated Shibarium Hard Fork

Shiba Inu (CRYPTO: SHIB) has experienced a resurgence in its burn rates, with an 800% surge and millions of coins burned in recent transactions prompting positive market sentiment and an increase in prices. What Happened: Lucie, Shiba Inu's marketing lead, emphasized the importance of income generation to facilitate burns, highlighting Ryoshi's burning of keys to Shib's supply.

'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800% Amid New Margin Pair Listing On Kraken

Shiba Inu (CRYPTO: SHIB) is up 7.6% amid significant whale transactions and a the movement of around 1.75 trillion SHIB. What Happened:Shiba Inu's ecosystem is undergoing significant upgrades, with the recent Bor hard fork on Shibarium targeting critical bug fixes to enhance transaction processing and network performance.

'Dogecoin Killer' Shiba Inu Rallies 7.6%, As 1.75 Trillion SHIB Coins Moved From Robinhood Wallet

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have experienced a turbulent month, but traders remain optimistic about their future prospects. What Happened: Renowned chart analyst Ali Martinez has predicted a bullish breakout for Shiba Inu, highlighting the formation of a bull flag on its daily chart.

News for Shiba Inu Crypto (SHIB)