Shiba Inu (SHIB)

What is Shiba Inu?

Shiba Inu (SHIB) is a community-driven cryptocurrency that was launched as an ERC-20 token on the Ethereum blockchain. The project was initiated in 2020 by a pseudonymous founder known only as "Ryoshi." As an ERC-20 token, it operates on the Ethereum network and benefits from its security and infrastructure, without maintaining its own separate blockchain or consensus mechanism. The primary purpose of SHIB is to function as a decentralized community token, with use cases that include payments and participation in decentralized finance (DeFi) applications. The token is categorized as a meme-token and exists within an ecosystem that includes other related digital assets.

How does Shiba Inu work?

Shiba Inu operates as an ERC-20 token on the Ethereum blockchain, meaning it does not have its own independent network. Instead, it relies entirely on Ethereum's established infrastructure for all its operations and security. The token's transactions are processed and validated according to the rules of the Ethereum network.

The security and integrity of SHIB transactions are maintained by Ethereum's network participants, not a dedicated group of Shiba Inu miners. These participants, known as validators on Ethereum's proof-of-stake system, work to confirm transactions for all assets on the network. This shared security model allows SHIB to function without needing its own consensus protocol.

When a user sends SHIB, the transaction request is broadcast to the Ethereum network for processing. Ethereum validators then include this transaction in a new block, which is subsequently added to the blockchain. Once the block is finalized, the transfer of SHIB is considered complete and is permanently recorded on the public ledger.

Shiba Inu use cases

Shiba Inu tokenomics

The tokenomics of Shiba Inu are characterized by a large, fixed total supply. The maximum supply of SHIB is capped at 589,552,695,333,683 tokens, meaning no additional tokens can be created beyond this amount. This fixed supply establishes a deflationary framework for the asset's economic model. The circulating supply is 589,242,976,624,223 SHIB, which represents the vast majority of the total tokens available for public trading and use. Because the supply is finite, factors such as token burning mechanisms or increased holder accumulation can impact the number of tokens in active circulation. The design intentionally created a high initial number of tokens to facilitate widespread distribution.

Shiba Inu price history & milestones

Shiba Inu was launched in 2020 and entered the market as a community-focused cryptocurrency project. The token's value has experienced significant fluctuations since its inception, a common characteristic of many digital assets. Its price history includes a recorded all-time high of $0.00008845, which was reached on October 28, 2021. Conversely, the token's all-time low was recorded at $0.000004074601578847 on June 26, 2026. This data reflects the peak and trough of its valuation over its trading history. Based on market capitalization, the asset holds a rank of 30 among other cryptocurrencies, indicating its position within the broader digital asset market.