What is Shiba Inu (SHIB)?

Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin.

Shiba Inu is the Ethereum-based counterpart to Dogecoin’s Scrypt-based mining algorithm.

The SHIBA INU "WoofPaper" has three reasons why their team created SHIB:

• “We started from zero, with zero.”
• “The brilliant minds behind Shib had never collaborated before.”
• “We love Shiba Inu Dogs.”

SHIBA INU invites dog-inspired artists from all over the world to foster the “artistic Shiba movement” as they bring their SHIBA INU community into the NFT market. SHIBA INU also created a campaign using Amazon Smile in order to collect donations to rescue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.

There are two other tokens in the SHIBA INU ecosystem:

LEASH has a fixed supply of only 107,646 tokens, and offers enticing rewards to liquidity providers, while BONE has 250,000,000 tokens, and is a governance token that allows holders to vote on the Shiba Inu’s Doggy decentralized autonomous organization (DAO).

The WoofPaper notes that you can use SHIB to DIG for BONES or ShibaSwap, or even BURY your tokens. “Trainers” can teach their Shibas to SWAP tokens as well, all of these actions create “Returns” that are put into Puppy Pools, where the #SHIBARMY has the option of BURYING or DIGGING for BONES.

SHIBA INU has a very strong community and social media following, and is often viewed as an experiment into how crypto can be used to create large communities.

To see more about SHIBA INU, click here.

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