A Complete Guide to the Shiba Inu
Shiba Inu crypto token has a limited supply of one quadrillion tokens. After its launch in 2020, the number of circulating SHIB tokens had decreased by half, largely because Buterin destroyed the 500 trillion gifted SHIB tokens given to him when the token was initially released.
There are three tokens in the Shiba Inu ecosystem: SHIB, BONE, and LEGS. Here is a brief description of each one:
Shiba Inu (SHIB): A digital currency based on the ERC-20 standard that was launched in 2020. It has a total supply of 1 quadrillion tokens and is used as the primary incentive token for the Shiba Inu’s suite of DeFi services. This allows users to earn staking rewards.
Doge Killer (LEASH): LEASH was designed to be a rebase token tied to the value of Dogecoin, but that functionality was later removed. Now, LEASH is used as an incentive mechanism for users participating in the platform’s liquidity-providing pools.
Bone ShibaSwap (BONE): The governance token, with a total supply of 250 million coins, enables the Shiba Inu community to vote on protocol proposals.
Shiba Inu’s price increased rapidly after it was first released in 2020. With over 500 trillion Shiba Inu tokens in circulation, the market capitalization value reached billions of dollars less than a year later.
Here are the most notable Shiba Inu market cap milestones, as told by the SHIB historical price charts:
- $1 million – Shiba Inu surpassed a $1 million market cap for the first time in March 2021
- $100 million – The Shiba Inu coin market cap surpassed the $100 million milestone in April 2021
- $1 billion – Shiba Inu reached unicorn status and surpassed the $1 billion market cap milestone in May 2021
- $10 billion – SHIB market cap reached a $10 billion valuation just two weeks after exceeding $1 billion in May 2021
- $30 billion – ETH market cap reached a $30 billion valuation in October 2021
Here are the most crucial milestones for Shiba Inus!
The Shiba Inu team has accomplished many things since its 2020 launch. This list of key dates and events shows how the ecosystem has grown and developed, elevating the project beyond its meme coin origins:
August 2020 – Shiba Inu launches with half of the total supply liquidity locked on Uniswap and the other half “burned” to Ethereum founder Vitalik Buterin
- May 2021 – Binance, the world’s largest crypto exchange, lists SHIB trading pairs
- July 2021 – ShibaSwap decentralized exchange goes live
- September 2021 – Several crypto exchanges, including Coinbase, roll out SHIB trading pairs
- October 2021 – The Shiboshis NFT collection sells out in just over 35 minutes
- January 2022 – Decentralized autonomous organization Doggy DAO launches and gives Shiba Inu community to vote on protocol proposals
- April 2022 – The launch of the SHIB Burning Portal and the auction of the metaverse real-estate
The Shiba Inu coin developers started a decentralized autonomous organization called Doggy DAO at the start of 2022. The DAO lets the Shiba Inu community use their BONE tokens to vote on protocol proposals and decisions about development for the Ethereum-based blockchain ecosystem.
Doggy DAO users can have their say in the development of ShibaSwap by voting on proposals for new features and trading pairs. The team behind Shiba Inu has put safeguards in place to stop larger SHIB holders from overpowering the opinions of smaller holders.