What is Shiba Inu? Shib Review & Beginner’s Guide

If you’re searching for an answer to What is Shiba Inu? and are possibly looking to buy SHIB, then you’re in luck. This beginner’s guide to Shiba Inu will explore everything you need to know about Shiba Inu’s use cases, ecosystem, community metrics and what the project has in the pipeline.

Shiba Inu Reviewed: Summary

When it first launched in 2020, Shiba Inu’s playful branding around the Shiba Inu dog breed — which also inspired Dogecoin — helped it become one of the most talked-about meme coins. In this article, Shiba Inu will be reviewed in detail to help beginners understand its origins, wider ecosystem, and future potential.

What is Shiba Inu (SHIB)?

Price Trading volume in 24h Last 7d price movement Buy Now! is a decentralized cryptocurrency that started as an experiment in a community-driven development within the Shiba Inu ecosystem. Launched in August 2020, it is built on the Ethereum blockchain as an ERC-20 token, positioning itself as a “Dogecoin Killer” due to its mascot, which shares the same Shiba Inu dog breed as Dogecoin.

Shiba Inu quickly gained popularity, driven by a loyal community called the SHIBArmy, and is commonly viewed as a rival to Dogecoin. Unlike some meme coins, Shiba Inu has expanded its ecosystem, introducing other tokens like LEASH and BONE and decentralized exchange (DEX), ShibaSwap. Despite being traded at fractions of a cent, SHIB’s large circulating supply — initially close to 1 quadrillion tokens — adds to its appeal appearing as an accessible and affordable cryptocurrency.

The project’s founder, known as Ryoshi, has emphasized that Shiba Inu is a unique experiment in decentralized, community-driven development. By leveraging Ethereum’s security and decentralization, Shiba Inu has grown into one of the top meme coins on the market, consistently generating interest from the crypto community and ranking among the top 20 cryptocurrencies by market cap.

Shiba Inu Pros and cons

Like other meme coins, Shiba Inu faces challenges, including high volatility and limited use cases. Before considering an investment in Shiba Inu (SHIB), it’s important to weigh both its potential benefits and drawbacks.

The Basics of Shiba Inu ($SHIB)

Shiba Inu (SHIB) is a popular meme coin that emerged as a direct competitor to Dogecoin, positioning itself within the altcoin and meme coin spaces. Here we explore the key aspects of Shiba Inu to provide an understanding of its underlying structure and ecosystem.

Shiba Inu is an ERC-20 Token Built on Ethereum

Shiba Inu is an ERC-20 token built on the Ethereum blockchain. This standard ensures compatibility with the vast Ethereum ecosystem, including decentralized applications (dApps), smart contracts, and other ERC-20 tokens that have in-built compatibility. As an Ethereum-based token, SHIB benefits from Ethereum’s security, but it also faces scalability challenges due to Ethereum’s network congestion and high gas fees in times of surges in network demand.

Shiba Inu’s Original Tokenomics Featured Ethereum Founder Vitalik Buterin

Here, we break down Shiba Inu’s tokenomics to see how its token distribution is structured and how this plays into its potential risk or reward profile.

Here is a look at the initial distribution of Shiba Inu tokens. Quite interesting to say the least.

On its launch in August 2020, Shiba Inu’s anonymous creator allocated 50% of the total supply to Vitalik Buterin, the creator of Ethereum, by depositing SHIB tokens to his publicly available wallet. In response, Buterin donated his 50% share of the Shiba Inu token supply, worth $1 billion at the time, to charitable causes in India to help with the Covid pandemic. Buterin stated that he never asked for nor wanted the tokens and they were sent to him as more of a marketing gimmick than anything else. A strategy that worked very well as SHIB was launched into the spotlight.

This has meant there has been good distribution of Shiba Inu tokens thanks to this unorthodox launch, with the Vitalik Buterin story helping the coin to quickly trend and gain traction in cryptocurrency markets.

Here’s a breakdown of SHIB’s tokenomics:

• Total Supply: SHIB was initially launched with quadrillion tokens, a vast supply meant to keep its per-token price low and accessible to investors.
• Burn Mechanism: A significant portion of SHIB tokens (approximately 410 trillion) has been burned, reducing the overall circulating supply and aiming to increase scarcity.
• Circulating Supply: Around 590 trillion SHIB tokens are in circulation.
• Deflationary Model: SHIB is designed with a deflationary nature. Through burns and limited additional minting, SHIB aims to combat inflation and potentially increase in value over time.
• Leash (LEASH): As the second token in the Shiba Inu ecosystem, LEASH has a limited supply of just 107,646 tokens. Originally a rebase token linked to Dogecoin’s price, LEASH had a flexible supply mechanism that adjusted to stabilize its price without altering the value of individual holdings. However, the rebase function was permanently disabled, returning LEASH to a standard ERC-20 token.
  Bone (BONE): With a total supply of 250,000,000 tokens, BONE is exclusive to the ShibaSwap platform. It serves as a governance token, allowing holders to vote on proposals related to the ecosystem. The more BONE tokens a user holds, the greater their voting power in shaping future projects.

SHIB’s Availability on CEXs and DEXs

Shiba Inu is widely available on centralized exchanges (CEXs) and decentralized exchanges (DEXs):

• Centralized Exchanges: SHIB is listed on major CEXs, such as Binance, Coinbase, Kraken, and HTX, making it easily accessible to millions of traders globally. These platforms offer easy trading and access to fiat onramps, simplifying the purchase of SHIB for beginners.
• Decentralized Exchanges: SHIB is also available on popular DEXs, including Uniswap and ShibaSwap, the native DEX for Shiba Inu’s ecosystem. Through these decentralized platforms, SHIB holders can trade the token without relying on third-party custodians, maintaining more control over their assets.

Shiba Inu’s integration into both CEXs and DEXs underscores its versatility and accessibility in the crypto market, contributing to its large user base and liquidity.

Shiba Inu Use Cases

Although Shiba Inu ($SHIB) started as a meme coin, it has evolved beyond its initial status with several use cases that give it more utility in the crypto ecosystem. These use cases span across payments, decentralized finance (DeFi), NFTs, and the emerging metaverse, offering SHIB holders multiple ways to engage with and use the token.

• Payment Method: Shiba Inu is accepted as a form of payment on various platforms and retailers. Businesses like AMC Theaters and Sling TV have integrated SHIB as a payment option, allowing users to pay for goods and services using the token. This growing list of merchants accepting SHIB boosts its utility as a viable digital currency for everyday transactions. The low per-token price also makes it easier for smaller transactions without the need to fractionalize the tokens.
• DeFi: Through ShibaSwap, Shiba Inu has entered the DeFi space, providing its holders with opportunities to earn rewards through staking, liquidity provision, and yield farming. SHIB holders can stake their tokens to earn BONE, another token in the Shiba Inu ecosystem, or provide liquidity in various pools to earn transaction fees. By leveraging DeFi protocols, Shiba Inu expands its utility beyond mere trading and speculative investing.
• NFTs and the Metaverse: Shiba Inu has tapped into the NFT and metaverse sectors through its Shiba Inu NFT collection and the development of SHIB: The Metaverse. The NFT marketplace allows users to mint, buy, and sell Shiba Inu-based NFTs, further integrating SHIB into the world of digital collectibles. The upcoming SHIB metaverse project is expected to offer virtual land plots and a fully immersive experience for users, combining entertainment with potential monetization opportunities. These developments in the NFT and metaverse spaces increase SHIB’s role in the broader digital economy.
• Charity and Social Impact: Shiba Inu has played a notable role in charitable giving. A prime example is when Vitalik Buterin, co-founder of Ethereum, donated over $1 billion worth of SHIB to the India COVID-Crypto Relief Fund. This event showcased SHIB’s potential for large-scale philanthropy. Moreover, some Shiba Inu community initiatives focus on raising funds for charitable causes, enhancing SHIB’s social impact.
• Governance and Voting: Shiba Inu’s ecosystem extends to ShibaSwap, where SHIB holders have a say in governance matters. By holding or staking BONE, SHIB holders can participate in voting on proposals that shape the direction of the project. This decentralized governance mechanism empowers users to influence future updates, features, and decisions within the ecosystem.
• Gaming Integration: Shiba Inu is expanding into the gaming world with its Shiba Eternity collectible card game, which is set to reward users with in-game assets and cryptocurrency. This play-to-earn model allows players to earn TREAT, an upcoming token within the ecosystem while engaging in competitive gameplay. The game’s integration with blockchain adds another layer of utility for SHIB within the gaming sector.

Navigating the Top Shiba Inu Projects

The Shiba Inu ($SHIB) ecosystem has grown, with multiple projects and tokens driving its utility beyond simple trading. These initiatives aim to solidify Shiba Inu’s place in DeFi, the metaverse, and beyond. Let’s explore some of the top Shiba Inu projects expanding its influence and reach.

• ShibaSwap: A decentralized exchange (DEX) that allows users to trade, stake, and earn rewards using SHIB, LEASH, and BONE tokens. It also features liquidity pools and yield farming options, providing an all-in-one DeFi platform for the Shiba Inu community.
• LEASH: A limited-supply token initially created to track Dogecoin’s price. With only 107,646 tokens available, LEASH has become a valuable part of the Shiba Inu ecosystem, offering high staking rewards on ShibaSwap.
• BONE: The governance token of the Shiba Inu ecosystem, used for voting on proposals within the ShibaSwap platform. BONE is also a key component in the upcoming Shibarium layer-2 network, serving as the primary token for gas fees.
• Shiboshi: A collection of 10,000 unique, non-fungible tokens (NFTs) that feature Shiba Inu-themed artwork. These NFTs can be traded on secondary markets and are intended to be integrated into the Shiba Inu metaverse, adding to their appeal.
• Shibarium: Shiba Inu’s layer-2 blockchain is designed to enhance transaction speed, reduce fees, and improve the ecosystem’s scalability. Shibarium will support applications, including NFTs, DeFi, and other decentralized projects.
• The SHIB Metaverse: Shiba Inu is developing its own metaverse, called SHIB: The Metaverse, which will feature over 100,000 virtual land plots. Users will be able to buy, trade, and develop these plots, adding a new dimension of digital real estate to the Shiba Inu ecosystem.

SHIB Price Analysis

Between late 2022 and September 2024, Shiba Inu ($SHIB) experienced significant price fluctuations. Starting in December 2022, SHIB was priced at $0.00000807, gradually rising through early 2023 and peaking at $0.00001202 by February 2023. After facing a volatile period, the token saw price swings, including a major surge to $0.00003076 in March 2024, driven by a 144.90% price increase. However, the months that followed marked substantial declines, with the price falling to $0.00001725 in June 2024 and further to $0.00001327 by September 2024, representing a -4.12% monthly drop. Overall, Shiba Inu has demonstrated extreme volatility with both sharp gains and significant losses.

Currently, as of October 13, 2024, Shiba Inu is trading at $0.000017, which is a -2.20% change over the past 24 hours.

Shiba Inu is down from its all-time-high of $0.000088, set in 2021, but has increased +146.35% over the past 12 months. It has a market cap of $10.34B.

Pro tip: If you’re looking for projects with a good chance to outperform Shiba Inu, you can check out our guide The Next 100x Crypto: Which Coins Will 100x in 2024

Shiba Inu Tokenomics

With a total supply set at a staggering 1 quadrillion SHIB tokens, Shiba Inu has a finite maximum limit of 589,735,030,408,323 SHIB that can ever be mined. As of mid-2022, over 549 trillion SHIB tokens had already been mined, leaving less than 7% of the total supply to be mined. This controlled supply supports the project’s scarcity model, which could affect the token’s long-term value as mining nears completion.

At the time of writing, SHIB is priced at $0.00001110, with a 24-hour trading volume of $283,361,661, reflecting a decline of 8.3%. The circulating supply stands at approximately 500 trillion SHIB coins, contributing to a market capitalization of around $6.5 billion. Shiba Inu’s fully diluted market cap is slightly higher at $7.88 billion, which accounts for all tokens if they were mined and in circulation.

How to Buy Shiba Inu

To buy Shiba Inu (SHIB), you’ll need to follow a few simple steps. First, set up a cryptocurrency wallet compatible with Ethereum, as SHIB is an ERC-20 token. You’ll then need to choose a trusted exchange to purchase your SHIB tokens. Once your wallet is set up and you’ve selected an exchange, you can easily buy Shiba Inu by following the exchange’s purchase process.

Here’s a guide on How to Buy Shiba Inu in Two Minutes:

Here are some great exchanges we recommend for buying SHIB:

Setting Up a Crypto Wallet

Start by choosing an Ethereum-compatible wallet that supports Shiba Inu. which means any wallet that can support ERC-20 tokens. These wallets allow you to store SHIB and other ERC-20 tokens securely. To learn more, check out our guide to learn all you need to know about Ethereum wallets. Below is a list of wallets that are Ethereum-compatible:

• Best Wallet – The overall best Ethereum wallet for self-custody of tokens, offers cross-chain interoperability
• Exodus – Multi-device wallet solutions for desktops, smartphones, and web browsers
• Zengo – Decentralized mobile wallet offering the perfect balance between security and functionality
• ELLIPAL Titan 2.0 – Top Ethereum wallet for safety, offers cold storage with air-gapped security
• Ledger Nano X – Established cold wallet with institutional-grade security supporting 5,000+ coins
• Trezor Safe 3 – Trusted hardware wallet with multi-chain support retailing for just $79
• NGrave Zero – Highly secure, fully offline hardware wallet with biometric access and recovery options
• Binance Wallet – Versatile exchange wallet with access to a wide range of networks and decentralized applications
• OKX Wallet – Comprehensive wallet offering built-in DEX, DeFi access, and advanced security features
• ByBit Wallet – Features both custodial and non-custodial wallet options, leveraging MPC technology for security
• MetaMask – Great option for storing Ethereum on a browser extension, used by over 100 million people
• Trust Wallet – Top-rated wallet for diversified portfolios with over 100 network standards supported
• MyEtherWallet – Specialist Ethereum wallet app with staking APYs of 3.6% and no minimum requirements

Choosing the Right Exchange

To purchase Shiba Inu, you’ll need to select a reliable exchange. Many centralized exchanges (CEX) and decentralized exchanges (DEX) support SHIB. Platforms like Margex, MEXC, OKX, and Exodus make it easy to buy, sell, or trade your tokens.

Pro tip: Check out our Best Bitcoin and Crypto Exchanges Guide to ensure you are using reputable and safe cryptocurrency exchanges.

Step-by-Step Guide to Acquiring Shiba Inu

Getting your hands on Shiba Inu ($SHIB) is a simple process that involves a few basic steps. Here’s how you can acquire SHIB with ease:

Step 1: Funding Your Wallet

Before purchasing Shiba Inu, you’ll need to fund your crypto wallet with a currency accepted by the exchange you’re using, usually Ethereum (ETH) or another major cryptocurrency. Choose a wallet that supports ERC-20 tokens like Best Wallet, Exodus, or Ledger Nano X. Once your wallet is set up, connect it to the exchange or DEX where you’ll be buying SHIB.

Step 2: Making Your First Purchase

With your wallet funded, head to a centralized exchange (CEX) or decentralized exchange (DEX) that lists Shiba Inu. Input the amount of SHIB you want to purchase, review the transaction details, and confirm the purchase. Your SHIB will be deposited into your wallet once the transaction is complete.

Shiba Inu vs. Dogecoin: A Comparative Analysis

Both coins share a common connection to the Shiba Inu dog breed, which has been a prominent figure in internet memes. Despite their humorous beginnings, both have evolved into significant players in the crypto world, drawing attention for their large communities and market impact. While Dogecoin boasts a longer history and substantial mainstream recognition, Shiba Inu has quickly gained ground by developing a more diverse ecosystem. Below is a comparison of the two meme coins, highlighting their differences and similarities.

The Future Prospects of Shiba Inu

Here are some predictions for Shiba Inu’s price throughout the rest of this decade, 2030, and beyond.

Pro tip: If you’re looking for projects that could outperform Shiba Inu in the future, check our guide to the Best Solana Presales and ICOs 2024.

Shiba Inu Price Prediction 2025

The Bitcoin halving in April 2024 could have an impact on Shiba Inu’s price in 2025, as previous market cycles have shown there can be a crypto rally in the year following a Bitcoin halving. As Bitcoin is the ‘leader’ cryptocurrency for the market — where it goes, the rest of the market tends to follow — its halving may yet prove to be a bullish factor for the whole crypto market as was seen in 2017 and 2021 rallies that followed the previous years’ halvings. Shiba Inu is no exception; it could potentially ‘ride the wave’ in the next bullish market cycle.

Shiba Inu’s ecosystem, especially its decentralized offerings like Shibarium, Shibaswap, and the integration into gaming and metaverse platforms, could potentially draw attention to the project during a bullish market phase. However, the volatility of meme coins will persist, as the broader market trends, especially regulatory moves on meme assets, could affect SHIB’s price action negatively.

• Potential Low: $0.000025 (20% ROI)
• Average Price: $0.000070 (65% ROI)
• Potential High: $0.000150 (120% ROI)

Shiba Inu Price Prediction 2026 

In 2026, we could witness a market downturn as the effects of the Bitcoin halving wear off and the market enters a correction phase. SHIB could see a retracement in line with broader crypto market trends. Meanwhile, the competition in the Layer 2 space will increase as Ethereum scaling solutions mature. Shiba Inu will need more robust development on Shibarium to maintain relevance.

• Potential Low: $0.000020 (10% ROI)
• Average Price: $0.000040 (30% ROI)
• Potential High: $0.000100 (90% ROI)

Shiba Inu Price Prediction 2027

By 2027, Shibarium’s full deployment and potential new use cases, such as the SHI stablecoin, could offer more stability. If macroeconomic factors such as inflation and currency devaluation continue, decentralized solutions like Shiba Inu could attract a significant number of users. SHIB could also see continued token burns, which would reduce the supply and potentially positively impact the price.

• Potential Low: $0.000030 (25% ROI)
• Average Price: $0.000060 (50% ROI)
• Potential High: $0.000120 (100% ROI)

Shiba Inu Price Prediction 2028

In 2028 we will see the next Bitcoin Halving, which could mark the beginning of a new bullish phase. This could lead to significant price increases across the market, including for meme coins like SHIB. With the Shibarium ecosystem maturing, SHIB could benefit from wider adoption — although competition in the Layer 2 space may limit its growth.

• Potential Low: $0.000040 (30% ROI)
• Average Price: $0.000080 (60% ROI)
• Potential High: $0.000150 (120% ROI)

Shiba Inu Price Prediction 2029

As the effects of the 2028 Bitcoin halving take hold, 2029 could see higher crypto prices if we follow the trend of previous market cycles. SHIB could reach new highs, driven by increased demand for decentralized financial solutions and applications on Shibarium. However, regulatory concerns around meme coins may cause price volatility.

• Potential Low: $0.000050 (40% ROI)
• Average Price: $0.000100 (75% ROI)
• Potential High: $0.000200 (140% ROI)

Shiba Inu Price Prediction 2030

Following a potential peak in 2029, SHIB could experience a correction. Nonetheless, increasing global adoption of blockchain technology and growing interest in decentralized solutions could be a factor that supports the price. Additionally, consistent token burns will continue to reduce supply, acting as a counterbalance to downward pressure.

• Potential Low: $0.000045 (35% ROI)
• Average Price: $0.000090 (65% ROI)
• Potential High: $0.000180 (130% ROI)

Shiba Inu Price Prediction 2031–2035

In the early 2030s, Shiba Inu could face increasing competition from more scalable and advanced blockchain solutions. However, if the SHIB community remains loyal and committed, combined with ongoing DeFi and gaming innovations, could mean SHIB is still relevant in 2030. The ongoing token burns will ensure that supply continues to diminish, providing support for long-term price stability.

• Potential Low (2031): $0.000050 (40% ROI)
• Average Price (2032): $0.000100 (70% ROI)
• Potential High (2033): $0.000200 (150% ROI)

Upcoming Developments in the Shiba Universe

In 2023, Shibarium, the ecosystem’s Layer-2 solution, gained rapid traction with over 1.36 million wallets and 400 million transactions within months. SHIB’s constitution, the SHIB Paper, was also released. In 2024, Shibarium improved further with reduced bridge times and NFT integration, while transaction counts surpassed 417 million.

Notable new initiatives include Self-Sovereign Identity (SSI) for user data control, upgrades to ShibaSwap, and the SHIB Torch burn mechanism. The ecosystem expanded with ventures like the Shib Marketplace and SHEboshi NFTs, and the Shiba Eternity game saw significant updates.

Shiba Inu also announced plans for a Layer-3 blockchain featuring Fully Homomorphic Encryption (FHE) for enhanced privacy. The TREAT token will play a key role in this layer, with increased utility for governance and dApps.

Despite concerns from the community over SHIB’s slower token burns, SHIB has shown strong momentum with Shibarium nearing a smart contract peak. Upcoming innovations include ShibaSwap 2.0, Shiba Hub, and the SHIB: The Metaverse project, alongside K9 Finance’s liquid staking. As SHIB continues to expand, analysts predict potential price gains, with the token trading at $0.00002508.

Is Shiba a Buy?

Shiba Inu (SHIB) remains a highly speculative cryptocurrency that has yet to establish a strong, defensible niche in the market. While it has shown resilience compared to other meme coins, its ecosystem still faces challenges, such as reliance on Ethereum’s transaction speeds and its own limited mainstream adoption for payments. Although some bullish investors hope for a massive price surge to $0.01, this seems mathematically improbable given its current supply. Shiba Inu might offer potential for short-term gains if the broader crypto market heats up, but its long-term prospects remain uncertain. As such, it’s more suitable for speculative trades than a solid investment.

Conclusion

Shiba Inu (SHIB) has evolved from its origins as a meme coin to an ecosystem with multiple tokens, a decentralized exchange, and ambitious plans for Layer-2 scaling through Shibarium. Although it shares many similarities with Dogecoin, Shiba Inu has carved its own path with a vibrant community and various use cases in payments, DeFi, NFTs, and the metaverse. However, like any investment in the volatile cryptocurrency market, Shiba Inu carries both risks and potential rewards. For those intrigued by its ongoing developments and growth, it’s essential to weigh its speculative nature and uncertain long-term prospects before diving in.

See also: 14 Best Meme Coins to Buy in September 2024 – Top Meme Coins

FAQs

Can Shiba Inu reach 1 cent?

While some investors speculate that Shiba Inu could reach $0.01, it’s unlikely given the current token supply of over 589 trillion. For Shiba Inu to hit 1 cent, the market cap would need to rise to levels far beyond the total value of all cryptocurrencies combined. Significant token burns would be required to reduce supply and make this price feasible.

How does ShibaSwap enhance the value of Shiba Inu?

ShibaSwap is Shiba Inu’s decentralized exchange (DEX), allowing users to stake, swap tokens, and provide liquidity within the ecosystem. By encouraging token burns, staking rewards, and the use of SHIB, LEASH, and BONE tokens, ShibaSwap helps create utility and drives engagement, which could potentially increase the value of Shiba Inu over time.

What are the risks of investing in Shiba Inu?

Shiba Inu is a highly speculative asset, making it prone to volatility. Its value largely depends on social media hype and community support. Additionally, a small number of large holders (whales) can significantly influence its price, and the project lacks mainstream adoption as a payment method, adding to its risk.

How can I participate in the Shiba Inu community?

You can participate in the Shiba Inu community by joining its active social media channels, including platforms like X (formerly Twitter), Reddit, and Discord. You can also engage with projects like ShibaSwap, stake tokens, and contribute to the community’s ongoing discussions and initiatives.

Where can I find the latest news and updates about Shiba Inu?

You can stay updated on Shiba Inu by following official channels such as Shytoshi Kusama’s posts, the project’s official social media pages, and cryptocurrency news websites. Community-driven platforms like Reddit and Discord are also great resources for real-time information.

What exactly does Shiba Inu do?

Shiba Inu is a cryptocurrency that started as a meme token but has since expanded into a broader ecosystem. It offers multiple tokens (SHIB, LEASH, and BONE), a decentralized exchange (ShibaSwap), and is involved in decentralized finance (DeFi), NFTs, and the metaverse. Its Shibarium Layer-2 blockchain aims to improve scalability and transaction speed.

How many Shiba Inu coins are left?

Out of the initial supply of 1 quadrillion tokens, over 589 trillion Shiba Inu coins are still in circulation. About 40% of the total supply has been burned, meaning those tokens have been permanently removed from circulation.

How much will Shiba Inu be worth in 2040?

It’s challenging to predict Shiba Inu’s price in 2040 due to the volatile and speculative nature of cryptocurrencies. However, price forecasts vary widely based on factors like market conditions, adoption, and ongoing developments within the Shiba Inu ecosystem.

Who is the owner of the Shiba Inu coin?

Shiba Inu was created by an anonymous developer or team known as Ryoshi. The project operates on decentralized principles, meaning no central entity controls it.

Who holds the most Shiba Inu coin?

The largest holders of Shiba Inu are anonymous whale accounts, with some holding trillions of tokens. The burn wallet, where tokens are permanently removed, also holds a large portion of the total supply.

Why is Shiba Inu coin so cheap?

Shiba Inu’s price is low due to its extremely large circulating supply. Despite token burns, hundreds of trillions of SHIB are still in circulation, keeping the per-token price small compared to cryptocurrencies with smaller supplies.

Is Shiba Inu or Dogecoin better?

Shiba Inu and Dogecoin both started as meme coins, but they have distinct differences. Shiba Inu offers an ecosystem with decentralized finance, a DEX, and smart contracts, whereas Dogecoin operates mainly as a digital currency for payments and tipping. Choosing between them depends on whether you’re interested in the Shiba ecosystem or prefer the simplicity of Dogecoin.

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