Shiba Inu (SHIB) is a decentralized cryptocurrency based on the Ethereum blockchain.
It was created in August 2020 as a meme token, inspired by the Shiba Inu dog breed, which is popularized by the internet meme Dogecoin. The cryptocurrency aims to be a community-driven project, where holders can earn rewards and participate in governance decisions.
SHIB has a limited supply of 1 quadrillion tokens and uses a deflationary mechanism, which means that a portion of every transaction is burnt, reducing the overall supply. This mechanism helps to increase the value of the remaining tokens over time.
SHIB has gained significant popularity among the crypto community, due to its strong marketing campaign and its association with the Dogecoin meme.