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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.

BNB was one of Wednesday's biggest movers, as the token rebounded from a recent one-year low. The price decline came as crypto exchange Binance came under scrutiny for allegedly assisting sanctioned Russian clients in moving funds abroad. Shiba inu also rose, following recent losses.

Biggest Movers: BNB Rebounds From 1-Year Low, SHIB Surges Higher

Shiba Inu (CRYPTO: SHIB) has experienced a 4% increase in the past 24 hours, outperforming both Dogecoin (CRYPTO: DOGE) and Floki (CRYPTO: FLOKI). What Happened: The rise in SHIB's price comes after Shibarium, Shiba Inu's Layer-2 network, announced the impending relaunch of its enhanced network, stating it is “almost ready” to be reopened to the public.

Shiba Inu Surpasses Dogecoin, Floki With 4% Surge — SHIB Developer Says Shibarium 'Almost Ready' To Reopen

After facing initial challenges during its launch last week, Shibarium, the Layer-2 network associated with the Shiba Inu project, is gearing up for a relaunch.

Shibarium, Shiba Inu's Layer-2 Network, Prepares for Relaunch with Enhanced Features

Shiba Inu's new Layer-2 Shibarium gets off to a shaky start, while multiple projects announce airdrops. Read on to find out more DeFi news and alpha!

Week in DeFi: CoWSwap TWAP, Shibarium's Shaky Launch and Sei Mainnet Arrives

Last week, Shiba Inu (CRYPTO: SHIB) introduced its much-anticipated layer-2 solution, Shibarium, despite some initial hiccups. What Happened: The main objective behind Shibarium's development was to tackle Ethereum's (CRYPTO: ETH) scalability concerns head-on.

Shiba Inu Worth $800 Can Make You A Millionaire If SHIB Reaches This Level

The Shiba Inu team is preparing to begin implementing its ShibPaper to develop a working system for governance and management.

Shibarium Devs Say Enhanced Network ‘Almost Ready' to Reopen

Test blocks on the network are processing as normal after developers blamed the earlier stoppage on unprecedented demand.

Shiba Inu Plans Shibarium's Public Restart Days After Botched Launch

The self-proclaimed “Dogecoin (CRYPTO: DOGE) killer,” Shiba Inu (CRYPTO: SHIB), experienced an 850% surge in its burn rate within the span of just 24 hours. What Happened: Data obtained from Shibburn reveals that over 1 billion SHIB tokens were permanently removed from circulation during this period.

Shiba Inu Burn Rate Skyrockets 850% In A Day — SHIB Becomes Most Traded Token Among Top Ethereum Whales

Billy Markus, co-creator of Dogecoin and popularly known as Shibetoshi Nakamoto, offered insights into his views on cryptocurrency investments and his favorite coins. Markus recently said, "My [number one] rule of crypto is never put more money into it than you're willing to burn in a fire.

Dogecoin Creator Billy Markus Lists Favorite Tokens — Did Shiba Inu Secure A Place?

Pepe

Markets are down bad and meme coins—the riskier assets—are bearing the brunt. Last week's chaotic Shibarium launch also helped sink the price of SHIB.

Meme Coins PEPE, SHIB Plummet More Than 20% Over the Week

Dogecoin

In the wake of last week's significant market downturn, the cryptocurrency landscape has been a topic of intense debate and speculation, with market caps across the board witnessing substantial declines, leading to polarized opinions among traders and investors. While some anticipate a swift market recovery, others view the recent events as merely the onset of a more extended downturn.

Shiba Inu, Dogecoin And Floki Set To Eclipse Bitcoin's Legacy After Market Chaos, Says Analytics Firm

The latest price analysis by Coinidol.com report, the price of Shiba Inu (SHIB) is falling below the moving average lines.

Shiba Inu Falls To $0.0000846 As It Reaches Overbought Zone

Cardano

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Solana

Ahead of the sharp crypto price crash, a former U.S.

Stark BlackRock Warning As Sudden $1 Trillion Crypto Market Crash Tanks The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Shiba Inu Price

In a recent development that has caught the attention of the cryptocurrency community, a significant amount of Shiba Inu (CRYPTO: SHIB) tokens were transferred between unknown wallets. Blockchain tracker WhaleAlert reported a transfer of 4,657,881,590,632 SHIB, equivalent to approximately $40,747,148 USD.

Mysterious Shiba Inu Whale Moves Trillions Of SHIB Amidst Shibarium Launch

FLOKI (CRYPTO: FLOKI), the popular cryptocurrency that emerged on the scene in June 2021, has revealed its admiration for fellow meme coins Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB). ‘No Rivalry Whatsoever' Rather than engaging in the typical rivalry seen in the crypto space, Floki has chosen to embrace fellow meme coins like DOGE and SHIB, seeing them as catalysts for its own success and as integral components of the meme coin movement.

EXCLUSIVE: FLOKI Absolutely Loves Dogecoin, Shiba Inu; Elon Musk's Brother Was 'Impressed With What We Were Doing

Crypto analytics platform Santiment is singling out four top altcoins that are experiencing increased interest from whales. Santiment's director of marketing Brian Quinlivan says that the four altcoins are “seeing some major whale activity that could indicate they could have some nice rebounds if and when crypto starts to stabilize again.

XRP, Shiba Inu and Two Additional Altcoins Witnessing Increased Interest From Whales, Says Santiment

Shiba Inu (CRYPTO: SHIB) on Friday experienced a significant decline of 12% in the last 24 hours, making it one of the worst-performing meme coins compared to Dogecoin (CRYPTO: DOGE) and Pepe Coin (CRYPTO: PEPE). What Happened: This downturn comes shortly after the Shiba Inu team launched the long-awaited Ethereum (CRYPTO: ETH) layer 2 solution, known as the Shibarium.

Shiba Inu Tumbles 12% In Single Day Amid Wider Crypto Downturn, Underperforms Dogecoin, Pepe Coin

The recently launched Shibarium is facing issues as transactions are stuck in a pending state, resulting in over 1,003 ETH (equivalent to $1.79 million) being locked.

$1.79M ETH Stuck on Shiba Inu's Shibarium Bridge Day After Launching

Beleaguered crypto lender Voyager is selling troves of its Shiba Inu (SHIB) holdings as it liquidates millions worth of the crypto asset on the US-based digital asset exchange Coinbase. Data from the blockchain analytics platform Lookonchain shows that in the last several days, Voyager sold 49 different tokens on Coinbase amounting to about $63 million.

Voyager Liquidates 1,396,159,318,339 Shiba Inu (SHIB) on Coinbase As Bankruptcy Process Continues: On-Chain Data

A mysterious Shiba Inu (SHIB) whale is suddenly moving trillions of SHIB as the project launches its new layer-2 scaling solution, Shibarium. New data from whale-surveying platform Whale Alert reveals that a deep-pocketed SHIB investor has abruptly shifted a staggering 4,654,881,590,632 tokens, worth about $40.7 million, from one unknown wallet to another unknown wallet.

Mysterious Shiba Inu Whale Abruptly Moves 4,657,881,590,632 SHIB Amid Launch of Shibarium Layer-2 Solution

In this week's issue, we cover Coinbase's launch of "Base," a layer-2 network atop Ethereum, along with the crypto community's reaction to PayPal's new stablecoin and the brouhaha over Matter Labs' use of Polygon-crafted open-source software. The Protocol is CoinDesk's weekly newsletter devoted to blockchain and crypto technology.

The Protocol: Blockchains Keep Launching, From Sei to Shibarium

The lead developer of memecoin Shiba Inu (SHIB) says that the project's new layer-2 scaling solution Shibarium is doing just fine after experiencing a “massive influx” of users.

Shibarium Developer Claims ‘All Is Well' After ‘Massive Influx' to Shiba Inu (SHIB) Layer-2 Solution

Shiba inu fell lower for a fifth straight session on Thursday, resulting in the meme coin dropping to a 13-day low. Since hitting a four-month high last Saturday, SHIB has struggled to find a firm floor. On the other hand, Solana ended a recent losing streak.

Biggest Movers: SHIB Slips to 2-Week Low, SOL Snaps Losing Streak

In light of recent concerns surrounding the launch of the Layer 2 network Shibarium (CRYPTO: SHIB), lead developer Shytoshi Kusama said Thursday there are no bridge issues and all user funds remain secure. Contrary to circulating rumors, any screenshots suggesting otherwise have been deemed false by the platform, according to a new blog post from Kusama.

Shibarium Launches To Chaotic Start As Platform Suffers Technical Issues: Developers Say Funds Safe

On August 16, 2023, the Shiba Inu meme coin enthusiasts celebrated the unveiling of the second-layer (L2) blockchain, Shibarium. This platform is designed to bolster decentralized app growth while tackling Ethereum's scalability and transaction fee challenges. Yet, even amidst the celebrations, SHIB, the project's native cryptocurrency, slid over 8% against the U.S.

News for Shiba Inu Crypto (SHIB)