Shiba Inu token (ticker: SHIB) is a

decentralized Decentralization or decentralisation is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group. Conce ...

cryptocurrency created in August 2020 by an anonymous person or group known as "Ryoshi". It is named after the

Shiba Inu The is a breed of hunting dog from Japan. A small-to-medium breed, it is the smallest of the six original and distinct spitz breeds of dog native to Japan. Its name literally translates to "firewood dog". A small, alert, and agile dog that ...

(柴犬), a Japanese breed of dog originating in the Chūbu region, the same breed that is depicted in

Dogecoin Dogecoin ( or , Abbreviation: DOGE; sign: Ð) is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the ...

's symbol, itself originally a satirical cryptocurrency based on the ''Doge'' meme. Shiba Inu has been characterized as a "

meme coin A meme coin (also spelled memecoin) is a cryptocurrency that originated from an Internet meme or has some other humorous characteristic. It may be used in the broadest sense as a critique of the cryptocurrency market in its entirety—those based ...

" and a

pump-and-dump Pump and dump (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the opera ...

scheme. There have also been concerns about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO). Shiba Inu was created in August 2020, dubbing itself the 'Dogecoin killer'. On 13 May 2021,

Vitalik Buterin Vitaly "Vitalik" Buterin (born 1994) is a Russian-Canadian computer programmer and founder of Ethereum. Buterin became involved with cryptocurrency early in its inception, co-founding ''Bitcoin Magazine'' in 2011. In 2014, Buterin deployed Eth ...

donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund. In early October 2021, the exchange price of the cryptocurrency notably surged. Its value increased 240% over the week. However, at the beginning of November the price dropped and continued to fall, ending the month having lost approximately 55% of its value.

References

External links

* {{Authority control Cryptocurrency projects Computer-related introductions in 2020

See also

References

External links