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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.

A leading blockchain analytics firm says that a huge percentage of Shiba Inu (SHIB) and Floki (FLOKI) holders are underwater. According to IntoTheBlock, 81% of SHIB holders are sitting on losses, just 16% are profitable and 3% are breaking even. SHIB is trading for $0.00000851 at time of writing, down 90.

More Than 75% of Shiba Inu and Floki Investors Are Sitting on Losses: Crypto Analytics Firm IntoTheBlock

Dogecoin

Shiba Inu (CRYPTO: SHIB) was flat during Thursday's 24-hour trading session, in tandem with Dogecoin, which was continuing to trade mostly sideways. The crypto sector has been in a lull recently, with many coins and tokens trading on lower-than-average volume.

Shiba Inu Lies Low With Dogecoin Amid Weak Trading Volume: What Bulls Want To See

The Bitcoin (CRYPTO: BTC) 2023 annual convention kicked off on Wednesday at a giant expo hall in Miami Beach where companies presented their services and products to visitors. What Happened: According to a report by MarketWatch, brightly logoed T-shirt-wearing teams of salespeople lured attendees with conference swag, but it was the idiosyncrasies of the conference that caught attention.

At Bitcoin 2023 Conference Bazaar, Dogecoin And Shiba Inu Find Themselves In The Toilet Bowl

Litecoin

Shiba inu moved closer to a six-month low on Wednesday, as sentiment in cryptocurrency markets shifted bearish. Litecoin was another notable token to fall, slipping by over 4% today. The global market cap is currently down by over 2% at the time of writing.

Biggest Movers: SHIB Nears 6-Month Low, Whilst LTC Drops by 4% on Wednesday

Pepe

Interest in meme coins surged to an all-time high on TikTok during the May 2023 crypto meme coin rally. What Happened: According to data from CoinGecko, the interest in the memecoin hashtag peaked at the maximum level of 100 in May, suggesting that crypto TikTok has grown as a community on the platform.

TikTok Goes Crazy For Dogecoin, Shiba Inu And Pepe Coin As Memecoin Mania Sweeps Internet

A report has revealed that a staggering 79.86% of addresses associated with the Shiba Inu (CRYPTO: SHIB) token have incurred losses reaching six figures. What Happened: The addresses collectively hold an astonishing 887.86 trillion SHIB, which equates to a value of $7.81 billion and accounts for 90.31% of the total Shiba Inu supply.

Nearly 80% Of Shiba Inu Holders Have Raked Up Losses Touching Six Figures — Over A Third Purchased Within This Range

Shiba Inu (SHIB) has experienced less selling pressure since May 8 when it hit a low of $0.00000835.

Shiba Inu Reaches $0.00000900 High Again Selling Pressure

The highly anticipated mainnet launch of Shiba Inu's (SHIB) layer-2 blockchain project Shibarium is fast approaching, according to a SHIB team member. Lucie, a content market specialist for Shiba Inu, says that the Shibarium mainnet launch is expected in the second or third quarter of 2023.

Shiba Inu's Shibarium Mainnet Launch Nears As Testnet Transactions Surge to Over 12,000,000 – Here's the Timeline

Shiba Inu (CRYPTO: SHIB) was trading slightly lower during Thursday's 24-hour trading session, in tandem with Dogecoin (CRYPTO: DOGE). In contrast, Bitcoin and Ethereum were holding flat, propped up by the general market, which saw the S&P 500 trading about 0.8% higher.

Shiba Inu Signals Bullish Reversal, At Least Short Term: The Bull, Bear Case For The Dogecoin Killer

A persistent trader with a knack for hunting memecoin trends has managed to lock in massive gains in the last month, according to blockchain sleuthing firm Lookonchain. Lookonchain says that a trader made hundreds of Ethereum (ETH) over the last month trading Pepe Coin (PEPE) and another very low-cap altcoin.

‘Super Memecoin Hunter' Makes 3,200% Gains on Shiba Inu (SHIB) Rival for Seven Figure Profits: On-Chain Data

Shiba Inu climbed to a two-week high on Tuesday, as bullish sentiment returned to cryptocurrency markets. The meme coin rose by as much as 2% in today's session, as the global crypto market cap surged by the same amount. BNB was another notable gainer today.

Biggest Movers: SHIB, BNB Rebound From Key Price Floors on Tuesday

Ecosystem tokens shiba inu, leash and bone will be used to transact on the upcoming Ethereum-based blockchain.

Shiba Inu's Puppynet Testnet Logs 10M Transactions, Putting Ecosystem Tokens in Focus

Shibarium, an Ethereum (CRYPTO: ETH) based layer 2 platform built specifically for the Shiba Inu (CRYPTO: SHIB) ecosystem, has recently made its Puppynet testnet publicly available, creating a buzz within the cryptocurrency space. What Happened: While the mainnet is still being developed, over 10.6 million transactions and 933,758 blocks, with an average block time of approximately five seconds, have already been processed on Puppynet.

Shiba Inu's Much-Hyped Shibarium Records Over 10M Transaction Volume

The price of Shiba Inu (SHIB) is falling below the moving average lines.

Shiba Inu Holds Above $0.00000850, Bulls And Bears Show Indifference

The team behind dog-themed meme asset Shiba Inu (SHIB) is unveiling the preorder date for new SHIB-themed cold wallets. In a new announcement, Shiba Inu says that preorders for Tangem's new SHIB-theme cold wallets will kick off May 29th.

Shiba Inu Announces Preorder Date for New SHIB-Themed Cold Wallets

New data shows that the number of transactions over the testnet of Shibarium, Shiba Inu's (SHIB) highly anticipated layer-2 project, has more than doubled since last month. According to blockchain tracker Blockscout, Puppynet is displaying explosive growth as over 9.

Shiba Inu Layer-2 Project's Growth Surges As Testnet Transactions Explode to Over 9,500,000: Blockchain Explorer

Tangem, a Swiss-based crypto wallet company, is developing unique cold wallets specifically designed for the Shiba Inu (CRYPTO: SHIB) meme coin. What Happened: The Shiba Inu team confirmed in an official tweet that pre-orders for these card-shaped wallets would be available from May 29.

Shiba Inu Burn Rate Spikes 182% After Card-Shaped Cold Wallets Announced

A leading analytics firm says the current frenzy surrounding the frog-themed memecoin Pepe (PEPE) remains dwarfed by past Shiba Inu (SHIB) and Dogecoin (DOGE) manias. In a new analysis, crypto analytics firm Santiment notes that PEPE's peak daily trading volume in the past few weeks was $2 billion.

Shiba Inu (SHIB) and Dogecoin (DOGE) Still Top Dogs in Memecoin History, Says Analytics Firm – Here's Why

Shiba Inu (CRYPTO: SHIB) was sliding over 1% lower during Tuesday's 24-hour trading session, moving inversely to Dogecoin (CRYPTO: DOGE), which was rising slightly. Shiba Inu's move lower comes amid an increase in the rate at which the tokens are being burned to decrease the overall supply.

Shiba Inu Continues Consolidation In Oversold Territory As Burn Rate Increases: A Technical Analysis

Within the past 24 hours, two transactions saw a total of 12.87 million Shiba Inu (CRYPTO: SHIB) tokens burned, marking a 60.30% increase in the SHIB token burn rate. What Happened: Over the last seven days, Shibburn, a Shiba Inu burn rate tracker, reported that a total of 1.7 trillion SHIB tokens have been burned in 20 transactions.

Shiba Inu Token Burn Rate Surges 60% As New Twitter CEO Shows Interest In Meme Coin

Shiba Inu's (SHIB) cost has dropped significantly as it approaches the lowest selling price.

Shiba Inu Reaches Oversold Region And Remains Above $0.00000834

In a new development, Linda Yaccarino, the newly appointed CEO of Twitter, has been spotted following the Shiba Inu (CRYPTO: SHIB) memecoin on the social media platform. The move has prompted speculation about Yaccarino's interest in the popular digital asset, adding a layer of intrigue to her introduction as Twitter's chief executive.

Massive Shiba Inu Endorsement? New Twitter CEO's Account Shows Major Crypto Hint

Shiba inu moved close to a five-month low on Friday, as meme coins reacted to news that Elon Musk has found a new Twitter CEO. Musk tweeted, “Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks.” Dogecoin neared a two-month low today.

Biggest Movers: SHIB, DOGE Near Multi-Month Lows, as Musk Finds New Twitter CEO

Shiba Inu (CRYPTO: SHIB) was falling over 3% during Thursday's 24-hour trading session, in tandem with Dogecoin (CRYPTO: DOGE), which was also retracing. The move lower in the two Shiba Inu-themed cryptos was in sync with the general crypto sector, which saw Bitcoin and Ethereum (CRYPTO: ETH) down over 2%.

Shiba Inu Follows Dogecoin Into Consolidation, Readies For A Move In One Direction

Bitcoin

Uniswap

Tokens issued on Bitcoin ran to a cumulative market capitalization of as much as $1.5 billion earlier this week before sharply correcting.

News for Shiba Inu Crypto (SHIB)