Shiba Inu (SHIB) is a decentralized cryptocurrency token that was created in August 2020 by an anonymous individual or group known as "Ryoshi." Named after the Shiba Inu, a Japanese dog breed, it was initially introduced as an experiment in community-driven cryptocurrency development and has often been referred to as a "meme coin."

Operating as an Ethereum-based ERC-20 token, SHIB leverages the security and functionality of the Ethereum blockchain. Its ecosystem includes additional tokens such as LEASH and BONE, each serving distinct roles within the network. The Shiba Inu ecosystem also features ShibaSwap, a decentralized exchange that allows users to trade tokens, provide liquidity, and stake their assets.

One notable event in Shiba Inu's history occurred in May 2021, when Ethereum co-founder Vitalik Buterin donated over 50 trillion SHIB tokens, valued at more than $1 billion at the time, to the India COVID-Crypto Relief Fund.

As of March 22, 2025, SHIB is widely accepted as a form of payment at numerous locations, either directly or through third-party intermediaries.

In January 2023, the Shiba Inu community introduced Shibarium, a Layer-2 blockchain solution built on Ethereum, aiming to reduce congestion, lower transaction fees, and provide a framework for decentralized applications and Web3 expansion.

For the most current information on SHIB's market performance, including price and trading volume, platforms like Coinbase offer up-to-date data.

Overall, Shiba Inu has evolved from its origins as a meme-inspired token to a multifaceted ecosystem, reflecting the dynamic nature of the cryptocurrency market.