#BinanceSafetyInsights

The **Shiba Inu (SHIB)** currency is a popular cryptocurrency based on the Ethereum blockchain. Here’s a quick summary about it:

### **Key Information about SHIB:**

1. **Origin:**

- Launched in **August 2020** by an unknown person/team under the name "Ryoshi," inspired by the **Dogecoin (DOGE)** currency.

- The name "Shiba Inu" is derived from the **Japanese Shiba Inu** dog breed, which has also appeared in internet memes.

2. **Goal:**

- It started as a speculative and meme (Meme Coin), but the team developed it into an ecosystem that includes:

- **Decentralized Exchange (ShibaSwap).**

- **NFTs and Blockchain Games.**

- Projects like **Layer 2 (Shibarium)** to reduce transaction costs.

3. **Circulating Supply:**

- Total supply: **1 quadrillion (1,000,000,000,000,000 SHIB)**.

- A large portion of the supply has been burned (like burning **40%** by Ethereum founder **Vitalik Buterin**, who donated the rest to charities).

4. **Uses:**

- Can be used for payments, trading, or investment.

- Part of the **Shiba Ecosystem** (like **BONE and LEASH**, other linked currencies).

5. **Price and Performance:**

- Experienced a tremendous rise in **2021** (like +46,000,000% in one year!).

- Among the most famous cryptocurrencies in terms of market capitalization (typically ranges between positions 10-20).

6. **Features:**

- A strong community ("Shiba Army") supports it.

- Ambitious developmental plans (like Shibarium).

7. **Risks:**

- A speculative currency with high volatility.