What is Shiba Inu (SHIB)?
Shiba Inu, identified by the ticker SHIB, is a decentralized cryptocurrency that launched in August 2020. It was created by an anonymous entity using the pseudonym Ryoshi and operates on the Ethereum blockchain as an ERC-20 token. The project gained attention as a community-driven initiative and has since developed an ecosystem with various blockchain applications.
The Shiba Inu ecosystem includes several components designed to expand its use beyond being a digital asset. Among these are a decentralized exchange, an NFT marketplace, and a Layer-2 blockchain network. The project emphasizes user participation through community involvement and on-chain governance.
Shibarium, the project's Layer-2 network, functions on top of Ethereum and focuses on reducing transaction fees and improving processing efficiency. In 2025, enhancements were made to this network to increase its reliability and security. This included the implementation of new RPC infrastructure and updates to validator configurations. These changes were part of a broader effort to recover from a technical exploit, after which the team introduced additional protections and resumed operations.
SHIB, the native token of Shiba Inu ecosystem, is used primarily for accessing features such as decentralized trading, liquidity staking, and NFT interactions. It can also be used as a means of payment at selected merchants. In addition, SHIB is involved in token-burning mechanisms that aim to reduce the overall token supply. These mechanisms are either automated through smart contracts or initiated by community members. The token also plays a role in governance processes that allow holders to vote on ecosystem proposals. Token holders are able to influence key decisions through voting processes, with specific governance roles assigned to individuals through on-chain elections.
At the time of writing, the circulating supply of SHIB is estimated to be approximately 589 trillion tokens. The project originally issued a total supply of one quadrillion tokens.
The Shiba Inu ecosystem consists of three main coins: SHIB, LEASH, and BONE. SHIB is the native token of the Shiba Inu ecosystem. LEASH is a deflationary token that is pegged to the price of SHIB. It is designed to be used as a reward for liquidity providers on the ShibaSwap decentralized exchange. BONE is a governance token of the Shiba Inu ecosystem and is used to participate in the ecosystem's governance and earn rewards for staking BONE.
SHIB is listed on Binance for trade and purchase. The live price of the Shiba Inu coin (SHIB) is updated and available in real-time on Binance.
