The Shiba Inu cryptocurrency project was founded with the objective of not only decentralizing cryptocurrency but also its community. “We are an experiment in decentralized spontaneous community building,” wrote the project’s anonymous founder Ryoshi in the white paper.
The origins of Shiba Inu are unknown. Its founder, Ryoshi, is pseudonymous, similar to Bitcoin’s Satoshi Nakamoto.
Shiba Inu began with a 2020 supply of 1 quadrillion. At its start, half of the total SHIB tokens were liquidity locked to decentralized exchange Uniswap, while the other have was sent to Ethereum co-founder Vitalik Buterin.
The Shiba Inu community, known as the “SHIBARMY,” is devoted and active. The official Twitter channel for the Shiba Inu token was created early 2021 and in a short amount of time amassed millions of followers.
Shiba Inu coins were first released in 2020 onto Uniswap, a decentralized exchange, at an initial price of $0.0000000015 per coin. However, according to the Shiba Inu’s price history charts, the token experienced its first major rally in May 2021 when it reached a value of $0.000038 per coin.
The Shiba coin price peaked in October 2021 at $0.000088, causing Shiba Inu to outperform all other digital currencies that year by a significant margin. Over the course of the year, the massive Shiba token price increase led to a 42000x price increase for the currency.
The great demand for Shiba Inu caused it to be stocked on almost all major cryptocurrency exchanges, which now permits users to buy SHIB on Binance, Kucoin, Kraken, and many others.
The historical SHIB price data provides key insights into thetoken’s price history, including key milestones:
- $0.00000005 – Our earliest SHIB historical data shows Shiba Inu coins changed hands at $0.00000005 in Jun 2020
- $0.00000030 – By early Feb 2021, the price of Shiba Inu coin reached $0.00000030
- $0.00000100 – In the span of roughly a month, Shiba Inu coin’s price tripled to $0.00000100 in March 2021
- $0.00003000 – Broader crypto bull run pushed SHIB’s price to $0.00003000 in May 2021
- $0.00008000 – The price SHIB surpassed $0.00008000 in October 2021
With a monumental price increase after its launch, many investors have been looking at the possibility of Shiba Inu token reaching new milestones in the future. While Shiba Inu reaching $1 is all but impossible, lower milestones like $0.001 or even $0.01 remain within the realms of possibility.
For a more accurate idea of where SHIB’s price might be headed, follow our algorithmically generated Shiba Inu price predictions. These predictions take into account current market conditions like the Fear & Greed Index, overall volatility, and market sentiment. You can also check 1 SHIB’s worth in fiat currency or crypto via our conversion feature.