In August 2020, an anonymous developer named “Ryoshi” created Shiba Inu as the “Dogecoin killer.” Shiba Inu and Dogecoin both belong to a family of cryptos called “dog meme coins.” Shiba Inu is built on top of the Ethereum blockchain and has three tokens – SHIB, LEASH, and BONE. SHIB is the main utility token and the one listed by CoinSmart.
SHIB has fast become one of the most popular tokens in the world. The Shiba Inu community is one of the most rabid communities, which is willing to rally together and push the token price up when needed. SHIB started with a circulating supply of one quadrillion. Ryoshi locked 50% of the supply in decentralized exchanges to create liquidity, while the other 50% was sent to Ethereum co-founder Vitalik Buterin. Buterin has since donated most of it to India’s Covid Relief and burned the rest.