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Often referred to as a meme coin and inspired by Dogecoin, this coin runs on the Ethereum network and was first created in 2020 by an anonymous figure named Ryoshi. Shiba Inu was initially thought to be just a joke, but it has since grown into a serious project with a broad ecosystem, such as ShibaSwap, which is a decentralized exchange platform. In addition, there are derivative tokens like LEASH and BONE, which have different functions within its ecosystem.

The Shiba Inu community, called ShibArmy, is very active in promoting this project on social media, causing its popularity to rise rapidly and even go viral across various platforms. Support from well-known figures such as Elon Musk also often affects price movements, although not always directly. Shiba Inu has also begun developing real-world utilities, such as a blockchain-based game and an NFT marketplace, up to plans for a metaverse intended to increase the project’s long-term value.

Even so, this coin still has high volatility, so prices can swing drastically in a short time. Many investors are drawn in because with a small amount of capital, you can obtain a very large number of coins. However, it is important to understand that the investment risk in meme coins is quite high. Compared with major crypto assets like Bitcoin or Ethereum, Shiba Inu.