Shiba Inu

Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." According to its whitepaper, Shiba Inu was created with the intention of creating a "100% community-led" cryptocurrency. Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-based mining algorithm. Shiba Inu is widely considered to be a "memecoin" due to its high volatility and network effect, driven by influential commentators like Tesla CEO Elon Musk.

The cryptocurrency Shiba Inu was created in August 2020 by an anonymous person known as "Ryoshi."

Shiba Inu aims to be a 100% community-led, decentralized cryptocurrency which seeks complete independence from centralized authorities and takes pride in that it was not founded from an existing community. 

SHIB exists on the Ethereum blockchain because Ryoshi viewed it as a well-established, secure, and decentralized network that would allow the Shiba Inu project to be developed with zero outside regulation. 

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Scrypt-based mining algorithm. 

When SHIB was created, 1 quadrillion tokens were minted. SHIB’s founder sent 50% of the total supply to Ethereum co-founder Vitalik Buterin, who then burned 90% of his holdings by sending the tokens to a dead blockchain address. Buterin said he’d donate the remaining 10% to charity. 

The remaining supply, which wasn’t sent to Buterin, is locked in Uniswap, which is a decentralized finance protocol used to exchange cryptocurrencies. 

The Shiba Inu community considers the crypto to be a "Dogecoin Killer" because it has the ability to top its memecoin rival's market cap without ever crossing the $0.01 mark. 

Shiba Inu is widely considered to be a memecoin due to its high volatility and potential risk, as well as its network effect, driven by influential commentators like Tesla CEO Elon Musk.

Shiba Inu‘s (CRYPTO: SHIB) burn rate shot up significantly in the last 24 hours even as the memecoin faced intense selling presure from the sale of tokens stolen from Indian cryptocurrency exchange WazirX. What Happened: Nearly 52 million SHIB tokens were kicked out of circulation, according to the official burn tracker Shibburn, representing an impressive 875% spike.

'Dogecoin Killer' Shiba Inu Burn Rate Shoots Up 875% Even As Price Comes Under Pressure After WazirX Hack

A closely followed crypto analyst says that one altcoin that has seen gains of over 120% in two weeks is gearing up to continue its upward momentum.

Analyst Says Altcoin That's Up Over 120% in Two Weeks Primed for Another Leg Up, Updates Outlook on Shiba Inu

The exploiter behind the Indian crypto exchange WazirX hack has sold 5.43 trillion SHIB for 26,535 ETH, valued at $92 million. What Happened: Despite the large sale, the price drop of Shiba Inu (CRYPTO: SHIB) was mitigated by market makers such as Wintermute, who bought SHIB from decentralized exchanges and deposited it to other exchanges to sell for arbitrage, according to blockchain analysis firm Lookonchain.

'Dogecoin Killer' Shiba Inu Down 8%: WazirX Exploiter Sells $92M In SHIB Amid $230M Hack

Shiba Inu (CRYPTO: SHIB) is under pressure by a hack of Indian crypto exchange WazirX but still enjoys positive fundamental indicators. What Happened: Lucie, the marketing lead of Shiba Inu, announced that its game Shiba Eternity will fully integrate with the Shibarium blockchain.

'Dogecoin Killer' Shiba Inu Burn Rate Up 875% But Price Down 10%: What Is Going On?

Bitcoin

Most coins, including market leader bitcoin and USDT, are trading at a significant discount on WazirX.

Indian Crypto Exchange Hack Sends SHIB, WRX Tumbling as Bitcoin, Tether Trade at Massive Discount

Crypto exchange WazirX saw over $230 million in withdrawals in early European hours Thursday as a security breach affected one of its wallets, causing the loss of user funds.

Crypto Exchange WazirX Sees $230M in Suspicious Withdrawals, Largely $100M in SHIB Token

‘Dogecoin Killer' Shiba Inu's (CRYPTO: SHIB) constant gains and rising burn rates could lead the meme coin towards an “inevitable bull run.” What Happened: Shibburn data shows the burn rate increased by 297.3% in the past 24 hours, with 899,940 coins removed from the ecosystem.

'Dogecoin Killer' Shiba Inu Setting Up For 'Inevitable Bull Run' As Burn Rate Soars 297% In Single Day

Dogecoin

Pepe

Political memecoins also fluctuated after Trump survived an assassination attempt and announced his vice president.

Memecoin index up nearly 10% as SHIB, DOGE and PEPE rally

Shiba Inu's (CRYPTO: SHIB) rally comes off the back of significant growth in key Shibarium metrics, with further bullish momentum anticipated in the upcoming months. What Happened: Crypto trader Javon Marks, in his recent X post, forecasted Shiba Inu's price could reach unprecedented highs.

Is 'Dogecoin Killer' Shiba Inu Approaching A 'Golden Cross'? Here's What Technical Analysis Says

Shiba Inu has once again captured the spotlight with the token seeing a significant price rise with the recent market uptick. According to a recent Forbes report, the popular meme coin is projected to grow much further and experience a staggering 1700% price rally into 2025.

Forbes Predicts 1700% Shiba Inu Coin Price Rally, Could Shiba Shootout Also Explode?

The price of Shiba Inu (SHIB) has rallied with the bulls breaking above the 21-day SMA. In the recent price action, the bears pushed the altcoin to a low of $0.00001273 while the bulls took advantage of the dips.

Shiba Inu Recovers And Challenges The High Of $0.000020

Prominent crypto trader Altcoin Sherpa weighed in on the future of meme coins, saying a “meme coin supercycle” is still likely but could play out different than expected. What Happened: Sherpa stated in a post on X that a meme coin super cycle is likely, but it will not resemble the Shiba Inu (CRYPTO: SHIB) runs of the past, which was catching up with Dogecoin (CRYPTO: DOGE).

Dogecoin, Shiba Inu, Pepe Will Still Have Supercycle But '2021 May Never Happen Again,' Muses Trader

dogwifhat

The injection of positive volatility sent memecoins rallying Monday, with coins from the sector emerging as the cryptocurrency market's biggest gainers. What Happened: Frog-themed Pepe was the best-performing cryptocurrency in the last 24 hours, with gains upwards of 25%.

Pepe, dogwifhat, Floki Explode Amid Searing Memecoin Rally — Dogecoin, Shiba Inu Rise As Well

The once anonymous leaders, Shytoshi Kusama and Kaal Dhairya, of the world's largest decentralized community, Shiba Inu (CRYPTO: SHIB), have broken their silence in their first-ever interview with Arabian Business. What Happened: After weeks of negotiations and security protocols, the interview occurred in a café at 3 a.m.

'Dogecoin Killer' Shiba Inu Developers Outline Future Plans In First-Ever Interview

Popular dog-themed memecoin Shiba Inu (CRYPTO: SHIB) recorded a mammoth jump in its burn rate in the last 24 hours. What Happened: About 71.18 million SHIB tokens were kicked out of circulation, according to the official burn tracker, Shibburn, representing a staggering 3641.09% surge.

'Dogecoin Killer' Shiba Inu's Burn Rate Swells By Staggering 3641%, Daily Active Users Jump

Shiba Inu's (CRYPTO: SHIB) strong burn rates and whale interest continue to bolster the meme coin's potential price trajectory. What Happened: Shibburn data shows a 155.7% burn rate increase in the past 24 hours, with 72.2 million SHIB burned.

'Dogecoin Killer' Shiba Inu Burn Rate Increases Burn Rate For 3 Straight Days: What Is Going On?

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) posted another day with a high burn rate, attracting the interest of traders. What Happened: The burn rate has surged 355% in the past 24 hours, according to Shibburn data.

'Dogecoin Killer' Shiba Inu Burn Rate Surges 355%: What Is Going On?

Dogwifhat (CRYPTO: WIF) and Pepe (CRYPTO: PEPE) may repeat Shiba Inu's (CRYPTO: SHIB) run-up in 2021 if the same patterns play out, according to a prominent crypto trader. What Happened: Pseudonymous trader Mate Finance drew potential parallels between the meme coins: Run-up to billions.

Dogwifhat, Pepe Will Do What Shiba Inu Did In 2021 And Run To Multi-Billions, Predicts Trader

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) saw its burn rate spike, with technical indicators signaling a support zone forming. What Happened: Shibburn data shows the burn rate spiking by 439.9%, as 6.20 million coins were burned in the past 24 hours.

'Dogecoin Killer' Shiba Inu Sees Burn Rate Explode 440%: Here's How It Impacts Technical Analysis

Cryptocurrency analysts of Coinidol.com report, Shiba Inu (SHIB) prices have continued to fall slightly after falling below historical price levels on April 13.

Shiba Inu Loses Crucial Support At $0.00001664

Shytoshi Kusama, the pseudonymous lead developer of the Shiba Inu (CRYPTO: SHIB) ecosystem, made a big declaration about their future involvement with the project. What Happened: The mysterious figure, while revealing the project's long-term expansion plan late Monday night, stated that they were nearing completion of founder Ryoshi's vision of a completely decentralized system with no leader.

Shiba Inu's Shytoshi Kusama To Go Into Oblivion Like Founder Ryoshi? – 'I Also Will Step Away From Limelight Eventually'

Bonk

Memecoins rebounded with a strong rally Monday, with popular tokens like Bonk and Pepe featuring among the market's best performers. What Happened: Solana (CRYPTO: SOL)-based canine coin, Bonk, became the biggest gainer in the last 24 hours.

Bonk Memecoin Star Of The Day, Shoots Up Nearly 20% — Pepe And Floki Chart Impressive Gains Leaving Dogecoin, Shiba Inu Trailing In The Dust

The global cryptocurrency market capitalization is trading 3% lower at $2 trillion Friday. Yet the meme coin market valuation plunged 10% in a single day.

Dogecoin, Shiba Inu's 15% Drop In Seven Days Pushes Meme Coin Valuations Down 10%: 'Double Down On Positions'

Shytoshi Kusama, the mysterious lead developer behind the Shiba Inu (CRYPTO: SHIB) project made a public appearance for the first time, although they masked their real self with what looked like a Batman-styled mask.

Shiba Inu Lead Developer Shytoshi Kusama Appears In Japan In Batman-Like Avatar: 'Our Humble King BatBoshi'

Shytoshi Kusama, the mysterious lead developer associated with the Shiba Inu (CRYPTO: SHIB) project, sparked excitement among the community after hinting that they might finally reveal their identity. What Happened: In an X post on Thursday, the suspenseful figure announced their first-ever meet and greet session at the IVS Crypto 2024, promoted as Japan's largest cryptocurrency conference.

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