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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.

Bonk

Dogecoin

Pepe

dogwifhat

In the past 24 hours, the meme coin crypto economy has risen by 9.6% against the U.S. dollar. The Solana-based meme token BONK emerged as the day's top performer, climbing 41.8%, while FLOKI saw an 18.7% increase.

Meme Coins Outperform Broader Crypto Market With Notable Gains

Dogecoin killer Shiba Inu (CRYPTO: SHIB) has experienced a significant surge in its burn rate, increasing by an impressive 172%. The surge coincides with a notable rebound in SHIB's market price, marking a promising turn for the dog-themed digital currency.

Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds

Shiba Inu (CRYPTO: SHIB) is trading in the green, sparking optimistic opinions from analysts as the broader crypto market experiences a surge in optimism. What Happened: Lucie, the marketing lead of Shiba Inu, emphasized in her latest post on X (formerly Twitter) that there is “no other direction than up” for the meme coin, which has maintained its position for more than two years despite a significant bear market.

'Dogecoin Killer' Shiba Inu Whale Transactions Spike 55%: '$100B By 2025,' Predicts Crypto Investor

With the Bitcoin halving around the corner, Benzinga takes a look at how the meme coin landscape has changed since the last halving. What Happened: According to CoinGecko data, the market capitalization of meme coins stands around $49.3 billion.

Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving

Meme coins are down 3% on the day, with the majority of the top 10 meme coins trading in the red. What Happened: While Dogecoin (CRYPTO: DOGE) is trading 2% down in the past 24 hours, Shiba Inu (CRYPTO: SHIB) is up 0.2%.

Why Are Dogecoin And Shiba Inu Silent Today?

Shibburn has reported a significant increase in the number of Shiba Inu (CRYPTO: SHIB) tokens being burnt on X, formerly Twitter. What Happened: The post noted that the number of SHIB tokens burned over 24 hours has shot up 25.9% to 24.36 million, while over a longer 7-day horizon, the burn rate has shot up 269.9% with 798.3 million tokens burned.

'Dogecoin Killer' Shiba Inu Sees Significant Increase In Token Burn Rate, As Price Recovers — Is A Turnaround In The Making?

Shiba Inu (CRYPTO: SHIB) is undergoing a market correction, but analysts remain optimistic about the coin's future prospects, bolstered by a significant increase in daily transactions. What Happened: Yomi, a prominent crypto analyst, shared his analysis of Shiba Inu's market performance in a thread on X (formerly Twitter).

Shiba Inu Down 20% On The Week, But: These 'Proven Milestones' Could Lead To 'Massive Bull Market,' Touts Trader

Crypto and macro researcher TradeTheFlow presented a compelling thesis on the rise of meme coins in the current crypto cycle. What Happened: In an April 12 X (formerly Twitter) thread, Flow argues that meme coins are not just a passing trend but a reflection of a broader societal shift towards financial nihilism and high-risk, high-reward investment strategies.

Dogecoin, Shiba Inu, Dogwifhat Among Top Picks For This Researcher's 'Meme Coin Supercycle' Thesis

Most investors who bought memecoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) continue to stay in profit despite a correction sweeping the crypto market, according to analytics firm IntoTheBlock.

Majority of Dogecoin, Shiba Inu and Pepe Holders Remain Profitable Despite Latest Crypto Correction: IntoTheBlock

Shiba Inu (CRYPTO: SHIB) is making waves with impressive gains, thanks to strengthening community developments and a surge in daily transactions, with positive momentum setting the stage for a bullish run ahead of the highly anticipated Bitcoin Halving event. What Happened: Ryoshi Network in an April 15 post on X announced a decentralized building initiative for Shiba Inu, emphasizing its goal to become a community-driven L2 ecosystem that utilizes SHIB as gas.

Shiba Inu Up 3% As Daily Transactions Blast 7,351% Higher In Only Four Days

The price of Shiba Inu (SHIB) has recovered from the previous slump but suffered another setback.

Shiba Inu Recovers To Trade Above $0.00001700

Amid a bearish downturn affecting the crypto market on Friday, Shiba Inu (CRYPTO: SHIB) has experienced a significant liquidation event, with $3.63 million worth of SHIB, or approximately 14.8 trillion tokens, being liquidated in the last 24 hours. The data, derived from CoinGlass, highlights the impact of the market's volatility on one of the popular meme coins.

14.8 Trillion Shiba Inu Tokens Liquidated In Just 24 Hours Amid Market Downturn

Shiba Inu (CRYPTO: SHIB) witnessed a huge spike in daily transactions, indicating bullish investor sentiment in the meme coin's performance. What Happened: Shibburn data shows the burn rate spiking 1,465.43% in the past 24 hours, with 1 million SHIB tokens burned in one single transaction, as well as 2.8 million SHIB tokens in another transaction.

'Dogecoin Killer' Shiba Inu's Daily Transactions Surge 3,555%, Burn Rate Spikes To 1,465%

Renowned crypto trader Rekt Fencer shared insights on successful meme coin trading, detailing his strategies and current meme coin watchlist. What Happened: In a comprehensive X thread, the trader revealed lessons from making millions on Solana meme coins in 2024.

What DOGE And SHIB Holders Can Learn From This Meme Coin Millionaire's Trading Strategies

Shiba Inu is the first layer 2 blockchain to join the media and entertainment association to develop blockchain technology for content security and distribution.

Shiba Inu Joins CDSA to Battle AI-Driven Concerns Using Shibarium

Shiba Inu (CRYPTO: SHIB) reported a significant burn rate surge, pushing prices 3.5% higher on the day. What Happened: Shibburn data indicates 48,654% increase in the Shiba Inu burn rate over the past 24 hours.

'Dogecoin Killer' Shiba Inu Up 3.5% On 48,650% Burn Rate Explosion: 'Working Like A Dog,' Says Lead Developer

Bitcoin

Solana

A ton of tokens have made headlines in 2024, with some of the most discussed being Bitcoin (BTC), Solana (SOL) and Shiba Inu (SHIB). These tokens cover a wide range of use cases and purposes and have performed well to start the year.

Bitcoin Vs. Solana Vs. Shiba Inu: How Much You'd Have If You Invested $10,000 At The Start Of The Year

It almost seems like ancient history to think back to a time when Elon Musk was pumping Dogecoin DOGE ($DOGE) and Shiba Inu ($SHIB SHIB ) and Matt Damon was making high calibre TV ads for Crypto.com. Then again, it was only six months ago that Kim Kardashian was fined almost $1.3m for shilling EthereumMax ($EMAX) and failing to disclose her payment.

Celebrities Are Powering Meme Coin Surge From $BONK To Shiba Inu To DOGECOIN

Shiba Inu (CRYPTO: SHIB) has seen a surge in daily transactions, defying a price dip amid bullish investor opinions. What Happened: Shiba Inu's marketing lead Lucie took to X to announce the launch major upgrades for Shiba Eternity, a popular project among SHIB investors.

'Dogecoin Killer' Shiba Inu's Daily Transactions Spike 1,082%: 'Still Very Bullish On SHIB,' Says Crypto Investor

The price of Shiba Inu (SHIB) has fallen below the 21-day SMA but remains above the $0.00002500 support level.

Shiba Inu Holds Above $0.00002500

Shiba Inu (CRYPTO: SHIB) might be on the verge of a significant price surge. According to the social intelligence company LunarCrush, various factors, from social engagement to token withdrawal patterns, hint at an impending bull run for the popular meme coin.

Is Shiba Inu Set To Skyrocket? Social Buzz And Token Burns Fuel Speculation

Shiba Inu (CRYPTO: SHIB) has found its groove again with a 6% price increase in Thursday's trading, alongside an increase in daily transactions and large holder net flow. What Happened: Shibariumscan data highlights a spike of 46% in daily transactions to 7.24K in a single day.

'Dogecoin Killer' Shiba Inu Bounces 6% On 1,058% Explosion In Large Holder Net Flow

The recent surge of PEPE (CRYPTO: PEPE) has market observers buzzing in the wacky world of memecoins. What Happened: Over the past two months, this internet frog-faced favorite has seen its market cap balloon to over $3 billion, sparking a frenzy among investors and traders.

Is Shiba Inu About To Get Dethroned? The Rise Of PEPE Coin

This article was originally published on the Benzinga India portal. Meme tokens like Shiba Inu (CRYPTO: SHIB), Pepe (PEPE), and Floki (FLOKI) have captured the attention of Indian investors, dominating the trading scene on WazirX, one of India's premier crypto exchanges.

Shiba Inu Outshines Bitcoin In India Amid Meme Coin Frenzy On Premier Domestic Platform

A new study has shed light on the most popular cryptocurrencies among residents of Michigan. What Happened: The study by Bombastic.com, which analyzed Google search data over the past year, revealed a mix of established players and rising stars capturing the attention of Michigan's crypto enthusiasts.

News for Shiba Inu Crypto (SHIB)