Shiba Inu (SHIB) was founded to answer a simple question: What would happen if a cryptocurrency project was 100 percent run by its community?
SHIB is a token created as an Ethereum-compatible alternative to Dogecoin (DOGE). With an initial circulating supply of one quadrillion coins, SHIB is intentionally abundant. The Shiba Inu ecosystem also supports projects such as decentralized exchange called Shibaswap and NFT art incubator.
SHIB was launched in August 2020 by an anonymous developer named Ryoshi. The project started with a total supply of one quadrillion tokens — a truly vast number. Few different crypto exchanges offer to buy, send, and receive SHIB.
SHIB, unlike DOGE, is compatible with the Ethereum ecosystem — which has allowed the community to create crypto apps like ShibaSwap, a DEX that permit users to trade and stake tokens without an intermediary. Further, the Shiba community plans to release an NFT platform and DAO-based governance system for the Shiba ecosystem (called “DoggyDAO”).