Shiba Inu Price Today

The current real-time Shiba Inu price is $0.00 . SHIB price has grew by 11.96% in the last day and decreased by 17.94% in the last seven days. It’s important to note that the current Shiba Inu market capitalization is $13,767,617,498. The maximum supply is coins, with a circulating supply of 589,255,482,512,000.00. SHIB is ranked #15 in terms of market cap.

Shiba Inu In A Nutshell

Shiba Inu is a popular meme coin rivaling Dogecoin. The ERC-20 cryptocurrency is community-driven and takes the form of a Decentralized Autonomous Organization (DAO). The Shiba Inu ecosystem comprises a DEX,  metaverse, NFT collection, and staking platform. It was created in 2020 by Ryoshi, who handed over control of Shiba Inu to its community in 2021. Learn more about what Shiba Inu is.

How Shiba Inu Works – An Overview

Shiba Inu is an ERC-20 cryptocurrency built on the Ethereum network. As it utilizes Ethereum’s architecture, Shiba Inu is secure, decentralized, and scalable. Similarly, Shiba Inu is a Proof-of-Stake (PoS) cryptocurrency, meaning that users can stake SHIB holdings to strengthen the network and earn rewards. 

The Shiba Inu ecosystem comprises three tokens with unique purposes. The core token, SHIB, facilitates investment into the project and can be used to purchase goods and services at select retailers. 

BONE is Shiba Inu’s staking and governance token. It enables holders to vote on proposals. Users can also stake BONE to earn rewards by validating Shibarium transactions and securing the network.

LEASH is an exclusive token with a finite supply of 107,646 tokens. The asset is used to reward Shiba Inu’s biggest supporters and comes with exclusive benefits like early access to NFT mints and the Shib Metaverse. 

As an ERC-20 asset, the speed and settlement time for SHIB transactions varies based on the congestion of the Ethereum network. On average, SHIB transactions will cost around $2.50 to $5 in ETH. Settlement speeds can vary from around 20 minutes to approximately one hour. 

Why Shiba Inu Is Unique

In contrast to cryptocurrencies like USDT, Shiba Inu is entirely in the community’s hands. The founder, Ryoshi, stepped away from the project in 2021, leaving Shiba Inu as a Decentralized Autonomous Organization (DAO) dubbed ‘Doggy DAO.’ Holders of the project’s governance token can vote on proposals and updates to the project, making it 100% community-driven. 

Shiba Inu is the second most popular meme coin, behind Dogecoin. However, it differentiates itself from other assets in the sector through its focus on building utility. The Shiba team has created an exchange and a layer two network.  The project also builds a metaverse world and a crypto game in which the Shiboshis NFT collection will be useful.  

One way that the Shiba Inu team has introduced utility to the project is by building the propriety Shibaswap Decentralized Exchange (DEX). It’s available directly on the Shiba Inu website and allows users to swap, bridge, or pledge tokens to a liquidity pool to earn rewards. Within the Shiba Inu ecosystem, staking to earn rewards is referred to as ‘Burying.’ 

Complete Shiba Inu Price History

Upon its launch, there was little demand for Shiba Inu or meme coins, resulting in SHIB trading at around $0.00000001 from its release until March 2021. In April, SHIB gathered steam amidst high-profile exchange listings and the start of the bull run. In April, SHIB traded for $0.000000249, but by May, the asset rocketed to $0.00003043.

SHIB fell sharply in the following months and hovered around $0.0000065 until October when SHIB exploded alongside the broader crypto market. Fueled by exchange listings, a market-wide rally, and the ShibaSwap release, SHIB hit an all-time high of $0.00007157 by November 2nd. 

Unfortunately, SHIB couldn’t keep its momentum going and dropped to around $0.00001, where it stayed, save from a few dips, until the start of 2024, prompting some to wonder if Shiba Inu is dead. However, as the Shibarium layer 2 gained increased adoption, SHIB had a brief resurgence, hitting $0.00003556 in March before slowly dropping to today’s price of $0.00001628. 

SHIB Circulating Supply

Shiba Inu has a circulating supply of 589,255,482,512,000.00 and no maximum supply, making it an inflationary asset, although there is a 1% burn on all transactions. Initially, 1000 trillion SHIB tokens were created, half sent to Ethereum’s Vitalik Buterin and half locked on Uniswap. BONE has a maximum supply of 250 million tokens, and LEASH has 107,646.