SHIB, or Shiba Inu, is a cryptocurrency that began as a meme coin, inspired by the Shiba Inu dog breed. It was launched on July 31, 2020, by an anonymous creator known as Ryoshi, with the aim of creating a decentralized community and a rival to Dogecoin.
While it started as a joke or meme, SHIB has grown into a broader ecosystem that includes:
ShibaSwap: a decentralized exchange
Other tokens: like LEASH and BONE
Shibarium: a layer-2 blockchain network designed to lower transaction costs and increase scalability
Despite its popularity and large community, SHIB lacks a distinctive utility. It's mainly used for:
Peer-to-peer transactions
Trading on exchanges
Participating in liquidity pools
Occasionally as a form of payment
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