Shiba Inu (SHIB) is an Ethereum-based meme token that mimics DOGE coin and features the Shiba Inu hunting dog as its mascot.
Shiba Inu is a breed of dog that originated in Japan. They are a small to medium-sized breed with a distinctive appearance, including pointed ears, a curled tail, and a fluffy coat that can come in a variety of colours such as red, black, and cream.
In recent years, the term “Shiba Inu” has also become associated with a cryptocurrency called Shiba Inu Coin (SHIB), which was created in August 2020 as a joke-inspired meme token on the Ethereum blockchain. SHIB has gained a significant amount of attention and popularity in the crypto space due to its meme-inspired branding and low price point, making it an attractive option for traders looking for potentially high returns.
Who Created SHIBA INU (SHIB)?
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.
SHIB was first created in August 2020 as a decentralized meme token. After its creation, Ryoshi gave 50% of all SHIB to the Ethereum co-founder, Vitalik Buterin.
Buterin donated 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donations ever in the world.
How Many SHIBA INU (SHIB) Coins Are There In Circulation?
The total number of Shiba Inu coins in circulation currently differs from the quantity when the project began in 2020.
The SHIB token was created with a maximum supply of one quadrillion tokens, allowing users to retain billions or trillions of it and produce huge profits even if the price stayed considerably below $0.01.
When SHIB launched the developers sent 500 trillion tokens, or 50% of the total supply, to Ethereum creator Vitalik Buterin’s public wallet and locked the remaining 50% to the Uniswap DEX. SHIB launched via an initial exchange offering (IEO) on Uniswap. The lead developer, using the name Ryoshi, posted that they did not pre-mine or hold any SHIB tokens.