HISTORY OF SHIBA INU : Just for General Knowledge
Shiba Inu was created in August 2020 by Ryoshi, an anonymous individual or group. The Shiba Inu is an altcoin of Dogecoin (DOGE -5.1%). Its design features a Japanese hunting dog, the Shiba Inu.
The coin was designed as a humorous alternative to Dogecoin, with a large initial supply of tokens and a strong community focus. Shiba Inu was created as an experiment in decentralized community building. The project started with a total supply of 1 quadrillion tokens.
The Shiba Inu gained popularity through its association with the adorable dog breed, as well as tweets and headlines from well-known individuals like Elon Musk and Vitalik Buterin. It quickly became a worldwide phenomenon and is now accepted as a form of payment at hundreds of locations.
In 2021, Ryoshi sent 500 trillion tokens, half of the total Shiba Inu supply, to Buterin, the Ethereum (ETH -2.15%) co-founder. Buterin famously burned (removed from circulation) about 90% of his tokens and donated 10% to a COVID-19 pandemic relief fund.
The price of Shiba Inu peaked in October 2021 when it was added to Coinbase (COIN -5.38%). Shiba Inu has decreased considerably since then, along with many other cryptocurrencies.
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