Shiba Inu

The live Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $158,183,072 USD. We update our SHIB to USD price in real-time. Shiba Inu is down 0.33% in the last 24 hours. The current CoinMarketCap ranking is #14, with a live market cap of $6,240,173,114 USD. It has a circulating supply of 589,543,251,882,078 SHIB coins and the max. supply is not available.

If you would like to know where to buy Shiba Inu at the current rate, the top cryptocurrency exchanges for trading in Shiba Inu stock are currently Binance, OKX, Bybit, Deepcoin, and Bitrue. You can find others listed on our crypto exchanges page.

What Is SHIBA INU (SHIB)?
Once upon a time, there was a very special dog. That dog was a Shiba Inu, and this dog inspired millions of people around the world to invest money into tokens with the dog's image on it.

According to the SHIBA INU website, SHIB is the "DOGECOIN KILLER" and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS) and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.

Shiba's success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.

On Sept. 17, 2021, Coinbase, the largest U.S.-based crypto exchange, listed Shiba Inu on their platform. This news caused Shiba Inu price to rise by over 40% in the following two days, bringing the meme dog token into the spotlight again.

Shiba Inu has since attracted more interest from other exchanges as well. Bitso, Mexico's biggest cryptocurrency exchange, announced in September that SHIB would start trading on its exchange. Giottus, an Indian crypto exchange, announced the same. Bitstamp, the biggest crypto exchange in Europe, said that it would list Shiba Inu for trading at the beginning of 2022. Korbit, a South Korean exchange, became the country's first exchange to list the SHIB token in 2021.

Who Are the Founders of SHIBA INU?
The SHIBA INU WoofPaper has three reasons why their team created SHIB:

"We started from zero, with zero."
"The brilliant minds behind Shib had never collaborated before."
"We love Shiba Inu Dogs."
The anonymous creator of the Shiba Inu coin is known as "Ryoshi." However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto.

In his blog RYOSHI RESEARCH, he characterizes himself as "just some guy of no consequence tapping at a keyboard." Ryoshi said that usually in projects there are different roles like a CEO, a "tech guy," and a roadmap, resulting in "someone plebs can bitch at." He stresses that with Shiba, no one person is accountable or responsible and underlines that he owns 0 SHIB to this day. For this reason, Ryoshi can be "pure and unbiased," getting satisfaction from Shiba "in other ways."

It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu's liquidity on Uniswap. According to Ryoshi, he had "a fren" he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His "job" is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021.

What Makes SHIBA INU Unique?
The SHIBA INU website invites dog-inspired artists from all over the world to foster the "artistic Shiba movement" as they bring their SHIBA INU community into the NFT market. SHIBA INU has also created a campaign using Amazon Smile in order to collect donations to escue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.

After initially being only one meme coin of many, Shiba Inu skyrocketed to popularity after Vitalik Buterin famously burned his share of the SHIB supply. Ryoshi had given Buterin 50% of the SHIB supply, announcing that "as long as Vitalik doesn't rug us," Shiba Inu would be fine.

However, Buterin decided to burn 90% of his share, which later would have been worth billions thanks to the soaring value of SHIB. The remaining 10% were sent to a charity, as were about 50 trillion SHIB more that Vitalik had donated to a COVID-19 relief fund. He stated that he did not want "to be a locus of power" and thus gave the tokens away. This resulted in a temporary loss of value for SHIB, which the token later recovered from after the community agreed on an arrangement with the charity in question.

Ryoshi's goal for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership. In a blog post, Royshi noted that the rift caused by Buterin's token donation made the community stronger and would enable it to distribute further and decentralize the movement. His vision for the core ecosystem is to perform its utility while the Shiba Inu-own stablecoin becomes the globalized exchange of value.

In October 2021, SHIB surged on the news of a possible Robinhood listing and briefly flipped Dogecoin to become the most-valued meme coin by market capitalization. Thus far, Robinhood has not listed SHIB, despite a petition with over 500,000 signatures calling for it. Robinhood executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard. However, Robinhood would prioritize safety over the "short-term gain" of a new token listing and has left Shiba Inu fans waiting since.

The October 2021 price surge famously minted a billionaire, as one wallet was uncovered that had bought $8,000 worth of SHIB in summer 2020, which was worth over $5.7 billion at SHIB's all-time high valuation. The wallet owner has not been determined, although the person appears to have sent parts of their fortune to other wallets several weeks after the price explosion.

The price surge also led to increased adoption across token holders. WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. CRO was a distant second with only 5%. SHIB also surpassed the one-million holder mark following its all-time high.

Moreover, retailers increasingly started adopting SHIB as a means of payment following its popularity among small-time investors. American electronics retailer Newegg added SHIB at the start of December 2021, partnering with crypto payments platform BitPay to unlock payments in SHIB. This followed the adoption of SHIB by over 500 merchants, according to payments firm CoinGate, with even Samsung-backed digital wallet provider ZenGo adding SHIB to its options and a restaurant in Paris accepting it as a payment option. At one point, the Shiba Inu community called for McDonald's to accept Shiba Inu, although the social media effort eventually fell short.

A major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem.

ShibaSwap is the coin's designated DEX that started as a fork of Sushiswap that has, in the words of Ryoshi, its "own little twists and elements." Furthermore, Shiba Inu also plans to develop SHI, which will be the "global exchange of value for plebs," an algorithmic stablecoin pegged to one cent instead of one dollar as most other stablecoins. Its launch is planned after the Shiba layer-two solution called Shibarium, and Ryoshi envisions SHI to work in a similar way to DAI. That way, SHI would have collateral as a backstop that would push it back to one cent if the peg was lost.

According to Ryoshi, the end goal is that SHI becomes a global stable currency "that plebs across all countries are able to use as both a store of value and method of payment."

In addition to SHI, a financial ecosystem is planned, and SHI would be added as a weighted pool pair on Curve. In that case, Ryoshi expects forks of the major DeFi protocols to appear in the Shiba Inu ecosystem, which would require an immutable bridge to function.

Shiba would also start hosting localized meetups and a once-a-year ShibaCon convention that would be hosted at an easily accessible location in a country without oppressive visa restrictions "for the sake of inclusiveness for global plebs."

One immediate change Shiba Inu has implemented is increasing token burns, which have sparked renewed interest in the token at the beginning of 2022. Bigger Entertainment, a crypto record label selling merch, NFTs and concert tickets, organized a SHIB burn party that burned over 239 million SHIB over Christmas. In total, the team has burned almost one billion SHIB since the end of October.

SHIB: The Metaverse and Shibarium
While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs). Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens. Interestingly, other Shiba Inu-related tokens – BONE and LEASH – will also play various roles as different phases of the metaverse come to life.

According to the team, the goal is to create a fun, immersive and interactive environment where users can explore, earn passive income and collect in-game resources. Importantly, the metaverse will allow users to develop and launch their own projects. In total, there are 100,595 plots of land on SHIB: The Metaverse. Of the total, 36,431 digital lands were unlocked on April 13, 2022 – the launch date of the introductory phase of the metaverse.

Like most existing metaverses, the parcels of lands found on SHIB: The Metaverse are categorized based on the desirability of their locations. Naturally, lands in strategic areas are valued higher than the rest. The four tiers of lands on Shiba's metaverse are as follows:

Tier 4: Silver Fur: 17,030 Lands
Tier 3: Gold Tail: 7,356 Lands
Tier 2: Platinum Paw: 5,714 Lands
Tier 1: Diamond Teeth: 2,024 Lands
Below were the launch prices of the tiers listed above:

0.2 $ETH for (Tier 4) Silver Fur
0.3 $ETH for (Tier 3) Gold Tail
0.5 $ETH for (Tier 2) Platinum Paw
1 $ETH for (Tier 1) Diamond Teeth
Originally, the plan was to allow the use of ETH alone to mint unlocked lands. However, the team later decided to add the SHIB token as a minting currency, thereby expanding the utility of the token.

Although users have begun to purchase SHIB lands, the SHIB metaverse will not officially launch until Shibarium, an upcoming layer 2 scaling network that will eventually house the entire Shiba ecosystem, is deployed. The plan is to have a layer 2 ecosystem built on top of Ethereum's layer 1 network to meet the computational and memory demands for running the fast-expanding Shiba ecosystem. Apart from hosting the SHIB metaverse on Shibarium, the team is also looking to deploy a stablecoin, called SHI, on the layer 2 solution.

Another notable development that coincided with the introduction of SHIB: The Metaverse was the launch of a new website where future developments and expansions, including the launch of the metaverse, will take place.

Related Pages:
Learn more about Dogecoin.

Learn more about Dogelon Mars.

Learn more about the dog-related meme-coin craze.

Learn more about trading with our definition of a dead cat bounce.

Curious about the crypto space? Read our educational section — Alexandria.

Want to keep track of Shiba Inu prices live? Download the CoinMarketCap mobile app!

Want to convert the Shiba Inu price today to your desired fiat currency? Check out CoinMarketCap exchange rate calculator.

How Many SHIBA INU (SHIB) Coins Are There in Circulation?
The SHIBA INU website notes that they locked 50% of the total token supply on Uniswap, and "threw away the keys!" The remaining 50% was "burned to Vitalik Buterin." In response to the "gift" from the Shiba Inu team, Vitalik Buterin sent 50 trillion SHIB tokens, worth $1 billion in Shiba Inu price at that time, to India's Covid Crypto Relief Fund. Buterin then burned 40% of the total supply to a dead wallet.

There are several other tokens described on the SHIBA INU website — LEASH, which has "been unleashed and will not rebase," and BONE, the "Dogecoin Killer." LEASH has a fixed supply of only 107,646 tokens, and offers enticing rewards to liquidity providers, while BONE has 250,000,000 tokens, and is a governance token that allows holders to vote on the Shiba Inu's Doggy decentralized autonomous organization (DAO).

The WoofPaper notes that you will use SHIB to DIG for BONES or ShibaSwap, or even BURY your tokens. "Trainers" can teach their Shibas to SWAP tokens as well — all of these actions create "Returns" that are put into the Puppy Pools, where the #SHIBARMY has the option of BURYING or DIGGING for BONES.

At the beginning of May 2021, dog-themed meme tokens like Shiba Inu saw transaction volumes in the hundreds of millions of dollars. Shiba Inu price hit an all-time high (ATH) of 0.00005 on May 10, 2021, before going on a downtrend since.

As mentioned above, on May 13, Vitalik Buterin (who was given half of the token supply by the developers) announced that he was donating a large amount of these tokens to a fund helping India with COVID relief. The SHIBA developers had not anticipated Buterin selling his tokens, but eventually, the two parties came to a mutually satisfying agreement. Later, the fund actually lamented having sold its tokens too early, as its share would have been worth well over $1 billion at the token's all-time high.

Despite rumors alleging the contrary, Elon Musk does not own any SHIB. He confirmed as much in a tweet, which caused a temporary price drop.

How Is the SHIBA INU Network Secured?
According to 22-page-long SHIB's WoofPaper, SHIB is an ERC-20 token based on Ethereum, a proof-of-work blockchain currently transitioning to proof-of-stake.

Ryoshi announced in his final blog post to date that Shiba Inu would develop its own layer-two solution that would be more decentralized than Polygon or BSC, both of which Ryoshi regards as not truly decentralized. The Shiba L2 would be called "Shibarium" and is supposed to use BONE as its primary pair token, as written above.

According to Ryoshi, Shibarium would be built by a "very competent blockchain team" with experience building such solutions. Developer Eric M has announced in the Shiba Inu Discord server that Shibarium would launch "soon," although he did not specify a date.

Where Can You Buy SHIBA INU (SHIB)?
It is possible to buy Shiba Inu on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2) and OKEx, among other exchanges.

To check Shiba Inu price live in the fiat currency of your choice, you can use CoinMarketCap's converter feature directly on the Shiba Inu currency page. Alternatively, use the dedicated exchange rate converter page. Popular Shiba Inu price pairs include: SHIB/USD, SHIB/GBP, SHIB/AUD and SHIB/EUR.

For more information about how to buy crypto with fiat, check out CoinMarketCap's education portal — Alexandria.

Our most recent articles about Shiba Inu:

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Mar. W4)
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Mar. W2)
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Mar. W1)
6 Crypto Innovations That Cannot Be Uninvented

Last week, memecoins experienced a sharp sell-off. In this week’s technical analysis, we will analyze the price charts of DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA in the 4-hour time frame to monitor their current conditions
DOGE/USDT

Last week, DOGE was looking to confirm support at $0.08. Since then, the coin has found support and is working on its next leg to the upside.
The market is sitting at a pivotal level - the bulls need a close above the $0.088 resistance zone to extend the rally. Rejection from this level would assist bears with a push towards the $0.08 zone.
Also Read: Breakout vs Fakeout (False Breakout)

SHIB/USDT

This week, SHIB continues to look stronger than the other memecoins. The token has established strong support above the area of interest shown in the chart.
At the time of writing, SHIB is looking to continue to the upside. The bears can still take over by rejecting the price at this level. The bulls need to close and hold the price above the 1,400 level to extend this rally.
BABYDOGE/USDT

Last week, BABYDOGE printed a new monthly high and found resistance. Since then, the token has been creating lower highs and lower lows.
At the time of writing, the market is approaching the 2.7 support level. The bulls need to keep the price above this level if they want to extend this rally. Losing it will shift the market structure in favor of the bears and could lead towards a sell-off.
Also Read: What Are Ranges in Trading and How to Use Them?

CATE/USDT

This week, CATE was trying to break above the September low. However, the token failed and is now looking for support. The bulls need to stay above the area of interest to keep the market structure in their favor.
At the time of writing, CATE is sitting in a consolidation pattern with no major signs of breaking out. Something to look for this week is to see if the area of interest shown in the chart above holds as support.
Also Read: What Is Fundamental Analysis in Cryptocurrency and Stocks?

FLOKI/USDT

Last week, FLOKI was trying to confirm support after printing a new monthly high. Since then, the token has continued to create higher highs and higher lows. The bulls need to stay above the 3,500 support level to continue this movement. Losing this level will shift the market structure in favor of the bears.
SAITAMA/USDT

This week, SAITAMA remains in its consolidation pattern from last week’s analysis.
At the time of writing, there are no major signs of the price breaking out of its range. This level will continue to be a battle between the bulls and bears.
Also Read: 2019 vs 2023: Analyzing The Market Structures

Summary
Here is a summary of the above:

DOGE has confirmed support.
SHIB is looking to extend this move to the upside.
BABYDOGE is establishing a new range.
CATE is looking for support.
FLOKI is looking for a higher low.
SAITAMA continues to sit in a consolidation pattern.
Writer’s Disclaimer: This article is based on my limited knowledge and experience. It has been written for educational purposes. It should not be construed as advice in any shape or form. As always do your own research.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.