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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.

The number of Shiba Inu (CRYPTO: SHIB) tokens being burnt has significantly decreased over the past week amid a parallel surge in SHIB prices by nearly 15% in the last seven days. What Happened: Shibburn, a social media handle on X that tracks the number of SHIB tokens being burnt, reported a 39.90% decline in the number of tokens burnt over the past week.

'Dogecoin Killer' Shiba Inu Burn Rate Drops Over Last 24 Hours, Mirrors Decline In Price

Dogecoin

Pepe

Pepe (CRYPTO: PEPE) has generated significant gains over the past seven days, prompting analysts to foresee further bullish price action. What Happened: Meme coin analyst and trader Murad highlights how Pepe, a “cult community with more than 10 million unique memes,” could flip Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE): I think it is possible that $PEPE flips $SHIB and possibly even $DOGE.

Pepe Up 50% On The Week: 'Cult Community' May 'Flip SHIB And Possibly Even DOGE,' Predicts Influential Trader

Dogwifhat (CRYPTO: WIF) surged 7% in the past 24-hour trading session alongside a more than 100% surge in trading volume, with analysts remaining bullish on WIF. What Happened: Coinbase International Exchange announced last week that Dogwifhat perpetual futures trading will commence on the Coinbase International Exchange and Coinbase Advanced from April 25.

'Shiba Inu Killer' Dogwifhat Dons Bull Hat On 7% Surge To $3.30: 'Breakout,' Says Trader

Avalanche

Beginning today, New Yorkers can trade SHIB, COMP and AVAX on the Robinhood app.

Robinhood lists SHIB, AVAX, COMP for trading in New York

Shiba Inu (CRYPTO: SHIB) is making waves again is making waves again with significant burn rates, wallet movements, a good first-quarter performance and ecosystem developments. What Happened: Shibburn data reveals a spike of 2,211.9% in burn rate in the past 24 hours, with a single transaction burning 1.8 million SHIB coins around two hours ago.

'Dogecoin Killer' Shiba Inu Burn Rate Skyrockets 2,212%, As Robinhood Wallet Moves 3 Trillion SHIB In A Single Transaction

Shiba Inu (SHIB) prices have recovered from the price drop on April 13, 2024. Price analysis by Coinidol.com.

Shiba Inu Is In A Range As The Uptrend Has Stalled

‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) has witnessed significant whale activity driven by a 26% weekly surge, with the lead developer signaling confidence in the meme coin's performance. What Happened: Etherscan data shows one whale address that accumulated 237.87 billion SHIB on Monday.

Shiba Inu Whale Accumulates 237B SHIB In One Transaction: 'Much In Store For The SHIB Army,' Vows Lead Developer

Pseudonymous cryptocurrency trader Vapor highlighted the growing prominence of meme coins in the digital asset space, asserting that they have become a force that cannot be ignored. What Happened: Vapor took to X (formerly Twitter) to point out several advantages of meme coins over other popular crypto investment options.

Trader Predicts 'At Least 3 Meme Coins Above $100B Market Cap': Here's Which Coins Benzinga Followers Liked The Most

Shiba Inu (SHIB), one of the leading memecoins in the crypto market, is undergoing a significant transformation as it aims to establish itself in the decentralized finance (DeFi) space.

Crypto VCs Invest $12M in Shiba Inu's new “Layer-3” Blockchain and TREAT Token

TREAT will be the “final non-stable token” for the forthcoming privacy-focused blockchain.

Shiba Inu Draws $12 Million Raise for New Blockchain and TREAT Token

The new network will be built on top of layer-2 network Shibarium and offer enhanced privacy for users.

Shiba Inu Fetches $12M Investment in a Token Sale to Build Privacy-Focused Blockchain

Shiba Inu (CRYPTO: SHIB) has gained around 19% in just two days, with notable crypto analysts remaining optimistic about the meme coin's price recovery to previous 2024 highs. What Happened: Shiba Inu recently announced that it has raised 12 million through the sale of its unreleased token, TREAT, to non-U.S. venture capitalist investors, including Polygon Ventures, Mechanism Capital, Animoca Brands and Morningstar Ventures.

'Dogecoin Killer' Shiba Inu Up 19% In 2 Days, Raises $12M For New Blockchain

Shiba Inu has raised $12 million via the TREAT token to develop its new privacy-focused Layer 3 blockchain.

Shiba Inu raises $12 million in token round for its new blockchain

Bonk

In the past 24 hours, the meme coin crypto economy has risen by 9.6% against the U.S. dollar. The Solana-based meme token BONK emerged as the day's top performer, climbing 41.8%, while FLOKI saw an 18.7% increase.

Meme Coins Outperform Broader Crypto Market With Notable Gains

Dogecoin killer Shiba Inu (CRYPTO: SHIB) has experienced a significant surge in its burn rate, increasing by an impressive 172%. The surge coincides with a notable rebound in SHIB's market price, marking a promising turn for the dog-themed digital currency.

Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds

Shiba Inu (CRYPTO: SHIB) is trading in the green, sparking optimistic opinions from analysts as the broader crypto market experiences a surge in optimism. What Happened: Lucie, the marketing lead of Shiba Inu, emphasized in her latest post on X (formerly Twitter) that there is “no other direction than up” for the meme coin, which has maintained its position for more than two years despite a significant bear market.

'Dogecoin Killer' Shiba Inu Whale Transactions Spike 55%: '$100B By 2025,' Predicts Crypto Investor

With the Bitcoin halving around the corner, Benzinga takes a look at how the meme coin landscape has changed since the last halving. What Happened: According to CoinGecko data, the market capitalization of meme coins stands around $49.3 billion.

Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving

Meme coins are down 3% on the day, with the majority of the top 10 meme coins trading in the red. What Happened: While Dogecoin (CRYPTO: DOGE) is trading 2% down in the past 24 hours, Shiba Inu (CRYPTO: SHIB) is up 0.2%.

Why Are Dogecoin And Shiba Inu Silent Today?

Shibburn has reported a significant increase in the number of Shiba Inu (CRYPTO: SHIB) tokens being burnt on X, formerly Twitter. What Happened: The post noted that the number of SHIB tokens burned over 24 hours has shot up 25.9% to 24.36 million, while over a longer 7-day horizon, the burn rate has shot up 269.9% with 798.3 million tokens burned.

'Dogecoin Killer' Shiba Inu Sees Significant Increase In Token Burn Rate, As Price Recovers — Is A Turnaround In The Making?

Shiba Inu (CRYPTO: SHIB) is undergoing a market correction, but analysts remain optimistic about the coin's future prospects, bolstered by a significant increase in daily transactions. What Happened: Yomi, a prominent crypto analyst, shared his analysis of Shiba Inu's market performance in a thread on X (formerly Twitter).

Shiba Inu Down 20% On The Week, But: These 'Proven Milestones' Could Lead To 'Massive Bull Market,' Touts Trader

Crypto and macro researcher TradeTheFlow presented a compelling thesis on the rise of meme coins in the current crypto cycle. What Happened: In an April 12 X (formerly Twitter) thread, Flow argues that meme coins are not just a passing trend but a reflection of a broader societal shift towards financial nihilism and high-risk, high-reward investment strategies.

Dogecoin, Shiba Inu, Dogwifhat Among Top Picks For This Researcher's 'Meme Coin Supercycle' Thesis

Most investors who bought memecoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) continue to stay in profit despite a correction sweeping the crypto market, according to analytics firm IntoTheBlock.

Majority of Dogecoin, Shiba Inu and Pepe Holders Remain Profitable Despite Latest Crypto Correction: IntoTheBlock

Shiba Inu (CRYPTO: SHIB) is making waves with impressive gains, thanks to strengthening community developments and a surge in daily transactions, with positive momentum setting the stage for a bullish run ahead of the highly anticipated Bitcoin Halving event. What Happened: Ryoshi Network in an April 15 post on X announced a decentralized building initiative for Shiba Inu, emphasizing its goal to become a community-driven L2 ecosystem that utilizes SHIB as gas.

Shiba Inu Up 3% As Daily Transactions Blast 7,351% Higher In Only Four Days

The price of Shiba Inu (SHIB) has recovered from the previous slump but suffered another setback.

Shiba Inu Recovers To Trade Above $0.00001700

Amid a bearish downturn affecting the crypto market on Friday, Shiba Inu (CRYPTO: SHIB) has experienced a significant liquidation event, with $3.63 million worth of SHIB, or approximately 14.8 trillion tokens, being liquidated in the last 24 hours. The data, derived from CoinGlass, highlights the impact of the market's volatility on one of the popular meme coins.

News for Shiba Inu Crypto (SHIB)