What is shiba inu? What you need to know about SHIB, a memecoin with a loyal fanbase

What is shiba inu and how does it work?

The Shiba Inu (SHIB) coin was created in August 2020 by an individual known only as Ryoshi. Like bitcoin (BTC) creator Satoshi Nakamoto, little else is known about their identity.

SHIB is an Ethereum-based (ERC-20) token named after the Shiba Inu, a Japanese dog breed. It is often described as a rival to dogecoin (DOGE) and sometimes referred to by supporters as the 'dogecoin killer'.

The Shiba Inu ecosystem

The Shiba Inu ecosystem includes ShibaSwap, a decentralised exchange (DEX) launched in 2021, which allows users to trade and stake tokens. Since 2023, ShibaSwap has integrated with the Layer-2 network Shibarium, aimed at improving transaction speeds and reducing gas fees.

The project also includes SHIB: The Metaverse, currently in beta testing, where holders can purchase virtual land, access NFTs, and use ecosystem tokens such as BONE and LEASH.

Ecosystem tokens

• BONE acts as the gas token on Shibarium, supporting network operations and providing voting rights within the ecosystem.

• LEASH is a limited-supply token used for exclusive access to certain metaverse features, though adoption has remained limited.

Half of SHIB’s total supply was initially locked on Uniswap (UNI), with the remainder sent to Ethereum co-founder Vitalik Buterin, who donated 50 trillion SHIB to India’s Covid Relief Fund and burned around 40% of the total supply.

SHIB/USD price analysis

Shiba Inu’s (SHIB) price has experienced significant fluctuations over the past two years, reflecting changes in market sentiment and the broader slowdown in the cryptocurrency sector.

After trading near $0.0000085 in November 2023, SHIB rose through late 2024, reaching a peak above $0.000033 in December – its highest level since early 2022. The move was short-lived, and by early 2025 the token had declined below $0.00002 as buying momentum eased.

From January to June 2025, SHIB’s price remained volatile, fluctuating between $0.000011 and $0.000017, before gradually trending lower through the second half of the year. By 3 November 2025, SHIB closed at $0.00000961, trading slightly below its early-year average but above the lows recorded in mid-2022.

The pattern over this period illustrates how meme-coin prices often reflect changes in market liquidity, investor sentiment and broader risk conditions, with sharp rallies typically followed by extended consolidation phases.

Past performance is not a reliable indicator of future results.

Shiba Inu news and price drivers

Shiba Inu’s (SHIB) price has historically been shaped by ecosystem developments, broader market trends and community sentiment. The following factors continue to influence its performance and perception within the digital-asset space.

Ecosystem development

The Shiba Inu ecosystem has evolved from a meme-based token into a multi-asset network, featuring decentralised exchange functionality, NFT integrations and metaverse applications. Projects such as ShibaSwap, the SHIB burn portal, Shibarium and SHIB: The Metaverse have helped broaden the token’s practical use cases and sustain engagement across the community. Enhancements in scalability, interoperability and transaction efficiency remain central to SHIB’s position within the wider cryptocurrency market.

Tokenomics and supply control

SHIB has a large total supply, making its price movements sensitive to both market demand and token-burning activity. Community-led burn initiatives continue to reduce the circulating supply, though their overall impact on price remains limited due to the volume of tokens in existence. Investors and analysts often track burn rates, staking rewards and liquidity levels to assess SHIB’s evolving market dynamics.

Market sentiment and broader crypto trends

As a meme-based cryptocurrency, SHIB’s value often reflects shifts in investor sentiment rather than intrinsic fundamentals. Broader market trends – such as changes in bitcoin’s dominance, regulatory developments and fluctuations in global risk appetite – can all influence its price direction. Periods of increased optimism or speculative interest across the crypto sector frequently correspond with higher trading activity in meme tokens.

Community engagement and brand visibility

The Shiba Inu community remains among the most active in the cryptocurrency space, recognised for its strong online presence and collaborative initiatives. Ongoing community involvement in governance, development and promotional activities supports SHIB’s visibility and perceived resilience. In recent years, engagement has shifted towards ecosystem growth and product development rather than short-term speculation.

Utility and long-term adoption

SHIB’s long-term demand will depend on the continued expansion of real-world and in-platform applications such as payments, gaming, decentralised finance and metaverse participation. Progress in these areas may help the token evolve beyond its meme-based origins, though broader market conditions are likely to remain a key determinant of its adoption and relevance.

The bottom line

Shiba Inu (SHIB) remains active within its ecosystem but now trades in a more established and less speculative market environment than in 2021. Its future will depend largely on adoption within Shibarium and SHIB: The Metaverse, rather than a resurgence of short-term hype.

When evaluating any cryptocurrency, it’s important to note that market conditions can change quickly. Analyst forecasts and algorithm-based projections should not be regarded as guarantees of future performance.

Past performance is not a reliable indicator of future results.

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