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 as Ryoshi. As an ERC-20 token, it operates on the Ethereum network and is secured by its Proof-of-Stake consensus mechanism. The primary use cases for SHIB include functioning as a community token, facilitating payments, and enabling participation in various decentralized finance (DeFi) applications. The token is part of a wider ecosystem that includes other related digital assets and is categorized as a meme token within the digital currency market.

How does Shiba Inu work?

Shiba Inu operates as an ERC-20 token on the Ethereum network, meaning it does not have its own independent blockchain. Instead, it relies on Ethereum's established infrastructure and security model for all its operations. The network's consensus is achieved through a Proof-of-Stake (PoS) mechanism, where validators are chosen to create new blocks and confirm transactions.

The participants who maintain the network are Ethereum validators, not miners specific to Shiba Inu. These validators stake their own ETH to get the chance to validate transactions and add them to the blockchain. This staking process ensures they act honestly to protect the network's integrity and the security of assets like SHIB.

When a user sends a SHIB transaction, it is broadcast to the Ethereum network for processing. Validators then include this transaction in a new block, which is added to the blockchain after consensus is reached. Once confirmed, the transaction becomes a permanent and unchangeable part of the public ledger, finalizing the transfer of tokens.

Shiba Inu use cases

Shiba Inu tokenomics

The tokenomics of Shiba Inu are defined by a fixed supply model established at its launch. The maximum supply of SHIB is capped at 589,552,695,333,683 tokens, meaning no new tokens can be created through mining or staking rewards. As of current data, the circulating supply is 589,243,156,884,851 SHIB, which indicates that the vast majority of the total possible tokens are already in circulation. This fixed-supply design is a core feature of its economic model. The distribution of these tokens was a key event in its history, and the proximity of the circulating supply to the maximum supply is a significant characteristic of its structure.

Shiba Inu price history & milestones

Shiba Inu was launched in 2020 and entered the market as a new meme token project built on Ethereum. The token's price has experienced significant fluctuations throughout its history, a common trait for many digital assets. Its all-time high price was recorded on October 28, 2021, when it reached a value of $0.00008845. Conversely, the token's all-time low was documented at a price of $0.000004632 on June 21, 2026. These historical price points represent the extremes of its valuation since its inception. Based on market capitalization, Shiba Inu holds a rank of 29 among other cryptocurrencies in the market.