Shiba Inu: What is this coin?

If you’re curious about Shiba Inu Coin, this crypto article is for you! Keep reading to uncover the ins and outs of this cryptocurrency.

Shiba Inu (SHIB) is a meme coin secured by the Ethereum blockchain. These special tokens are heavily influenced by their close connection to viral internet memes, which can cause the price of these coins to fluctuate wildly. Memes present as amusing media that quickly become popular online; similarly, news and hype created within its community will often have an immediate effect on Shiba Inu’s worth.

Much like other meme coins, Shiba Inu skyrocketed in October 2021 due to a surge of attention and celebrity endorsements. However, since then the cryptocurrency has gradually dropped in value.

In 2020, a disembodied figure (or group) operating under the moniker of Ryoshi released the Shiba Inu token. Based on–and named after–the popular Doge meme that birthed its predecessor, Dogecoin; it was created to rival and contest with this original crypto coin. This Japanese dog breed-inspired coin is now widely recognized as one of the earliest meme coins in existence!

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