Altcoin is the type of cryptocurrency that was created as an alternative to Bitcoin (BTC). The portmanteau word has been a common one since its very first day. Shiba Inu is an Ethereum-based altcoin that features a Japanese breed dog. Shiba Inu is considered a luxury alternative to Dogecoin and often has a nickname “The Dogecoin killer”. Shiba Inu is still a leading meme coin in the ecosystem only second to Dogecoin/.
The coin was created in 2020, the concept was developed by a potential individual or group called Ryoshi. Shiba Inu is currently led by Shytoshi Kusama. Community members are keenly waiting to see Shiba Inu hit the $1K mark in the market. This article explicitly analyzes the Shiba Inu coin and its origin.
What is Shiba Inu (SHIB)?
Shiba Inu is a well-known altcoin in the cryptocurrency ecosystem. This altcoin is an Ethereum-based one in which Shiba Inu is the mascot. Shiba Inu is an ancient Japanese breed of hunting dog. An individual or group called Ryoshi is considered the creator of the token. It was created in August 2020 and has been one of the sensational topics in the arena ever since. Shiba Inu has impressive tokenomics for a meme coin. SHIB has a total supply of 589.5T with a $12.01B market cap and $12.01B FDV. At the time of writing, SHIB is valued at $0.00002038.
Origin of Shiba Inu
Shiba Inu is the product of enhanced meme culture, memes are fast-spreading content on the internet. The trend of meme-inspired tokens started after the launch of Dogecoin. Shiba Inu followed the same pattern, it is inspired by an ancient breed of Japanese hunting dog called Shiba Inu. SHIB is the native token of the Shiba Inu project. In the earlier days, SHIB adopted a different distribution strategy. It locked 50% of the total supply in Uniswap and the other 50% to the co-founder of Ethereum, Vitalik Buterin. These initiatives created a lot of buzz in the arena and gained wide attention from the community members.
Like any other project in the crypto space, Shiba Inu too faced so many challenges in the initial days. People treated it as another meme coin that was trying to copy Dogecoin. The developers of Shiba Inu had another plan and proved them, it is more than a copycat of Dogecoin. The role of social media was an inevitable factor in the success of it. Social media platforms like Twitter, and Reddit celebrated Shiba and helped to create an active community.
The guiding principles of Shiba Inu lie in its ‘woof paper’. The paper says that Shiba Inu was developed to address a question and answer it. “What would happen if a cryptocurrency project was 100% run by its community?” was the question. The creator of Shiba stated that the collective power of decentralization can build something stronger than centralized. Shiba did hold a unique stand in the community. The different features and advanced objectives help them build a better space within the crypto sphere.
In the initial days, Shiba Inu had to travel on the most difficult path, despite the project’s success, people still believed SHIB was just another hypothetical asset which has no real value. However, Shiba remained focused and emphasized their objectives and goals. Regulatory issues are an unavoidable thing in every crypto project’s journey. Shiba too experienced some regulatory issues and they are still focused on eradicating all the possible regulatory issues and ensuring active transactions with global standards in the community.
Key features that enhanced the origin and growth of Shiba Inu
Tokenomics is the prime feature that incited the growth of Shiba Inu. The quadrillion tokens in supply helped to develop a large and active community. Community growth is a notable feature of Shiba. Shiba is not a meme coin now, it has developed into an ecosystem. Sibarium, a blockchain platform, and ShibaSwap, a decentralized exchange are the latest contributions of Shiba Inu.
The Shiba Inu ecosystem consists of Leash (LEASH), the second token in the ecosystem. Bone (BONE) is another token in the ecosystem. Treat (TREAT) is the upcoming token that is exclusively designed as a key to unknown functions. The airdrop of Shiba Inu TREATS is live now and it will most likely be available for trading from 14th January 2025 onwards.
The growth of Shiba itself shows how developed they have become and they have higher dreams than just staying as a mere meme coin. A promising future is the next stage of Shiba Inu to watch out for. An advanced ecosystem development can be expected from Shiba Inu. The experts believe that the best of Shiba is yet to come and will potentially help SHIB gain an exceptional market value.
SHIB’s contribution to the mainstream adoption of cryptocurrencies is not minimal and cannot be neglected. The growth of Shiba Inu was complementary to the growth of meme culture in the blockchain networks.
Future of Shiba Inu?
The future of Shiba Inu looks promising since they are on the verge of introducing advanced services and tokens. Shiba Inu’s TREAT will be available for trading soon. The ecosystem is expanding, and projects are growing. The entire crypto and meme coin community is actively discussing whether Shiba Inu will hit the milestone of a $1 value point. The community is optimistic and believes that the time is near.
The Bottom Line
Tracking Shiba Inu’s origin is like traveling a difficult journey and reaching a safe zone. It will give you all the adventures and challenges of a difficult journey, and at the same time, you will get the same comfort Shiba Inu enjoyed once the journey of origin has ended. The journey of Shiba Inu from a meme coin to an ecosystem is an inspiring one for every newly launched project in the blockchain network. If you are an ardent admirer of Shiba memes, then you can consider investing in it and becoming a part of this community.
