SHIB is a decentralized, community-driven currency held by millions worldwide. Since its launch in late 2020, the Ethereum-based SHIB token has evolved into a global phenomenon and is currently accepted as a form of payment at numerous locations, either directly or through third-party intermediaries. Shiba Inu was anonymously created in August 2020 under the pseudonym "Ryoshi." Ryoshi describes himself as inconsequential, stating that efforts to uncover his identity would be unremarkable, even if successful. This meme coin rapidly gained momentum and value as a community of investors was attracted by the coin's charming appeal, augmented by headlines and tweets from notable figures like Elon Musk and Vitalik Buterin. Since its release, SHIB is now traded on the ecosystem's proprietary decentralized exchange, ShibaSwap.

The SHIBA INU WoofPaper outlines three primary reasons for the creation of SHIB by the team: 1. "We started from zero, with zero." 2. "The brilliant minds behind Shib had never collaborated before." 3. "We love Shiba Inu Dogs." The coin's anonymous creator is known as "Ryoshi." Similar to Bitcoin's founder, Satoshi Nakamoto, very little is known about the enigmatic founder behind this dog-themed cryptocurrency. In his blog, RYOSHI RESEARCH, he describes himself as "just some guy of no consequence tapping at a keyboard." Ryoshi mentions that typically, projects involve various roles like a CEO, a "tech guy," and a roadmap, resulting in "someone plebs can bitch at." He emphasizes that with Shiba, no single individual is accountable or responsible, and highlights that he still owns 0 SHIB. This, he argues, allows him to remain "pure and unbiased," deriving satisfaction from Shiba "in other ways." There has been speculation that Vitalik Buterin was involved with the initial liquidity that facilitated Shiba Inu's setup on Uniswap. According to Ryoshi, he had "a fren" he met at Devcon in Osaka who sent him 10 ETH to establish the liquidity pair on Uniswap. Ryoshi also mentioned that Shiba Inu was intended as an experiment in decentralized community building, which is why he refused all influencer requests and pitches from various exchanges. His role is to protect the brand and offer suggestions, although he does this infrequently, with his last blog post dating back to May 2021.

Ryoshi's vision for Shiba Inu has been to explore the viability of a perpetual decentralized organization without centralized leadership. In mid-2021, Ryoshi stayed true to this commitment and stepped back, leaving the token entirely in the hands of the community. This experiment proved successful, and in October 2021, SHIB momentarily surpassed Dogecoin to become the most-valued meme coin by market capitalization. Robinhood executive Christine Brown commended the efforts of the Shiba Inu community, noting that one of her favorite aspects was seeing the community engage to voice its desires. The price surge also led to increased token adoption among holders. Data compiled by WhaleStats on the largest ETH wallets revealed that SHIB accounted for over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales, with CRO a distant second at only 5%. SHIB also exceeded the one-million holder milestone following its all-time high. Furthermore, retailers increasingly began accepting SHIB as a payment method due to its popularity among smaller investors. American electronics retailer Newegg integrated SHIB at the beginning of December 2021, in partnership with crypto payments platform BitPay, to facilitate payments in SHIB. This followed SHIB's adoption by over 500 merchants, as reported by payments firm CoinGate, with even Samsung-backed digital wallet provider ZenGo adding SHIB to its options, while a restaurant in Paris accepted it as a payment option. There was a point when the Shiba Inu community advocated for McDonald's to accept Shiba Inu, although the social media campaign did not ultimately succeed. A primary factor contributing to SHIB's price surge was the ongoing effort by the SHIB community to create utility for the Shiba Inu token, leading to the emergence of a comprehensive Shiba Inu ecosystem. ShibaSwap, the token's designated decentralized exchange (DEX), originated as a fork of Sushiswap but includes its "own little twists and elements," as Ryoshi described. Additionally, Shiba Inu plans to develop SHI, envisioned as a "global exchange of value for plebs," an algorithmic stablecoin pegged to one cent rather than the dollar, as is common with most other stablecoins. According to Ryoshi, the ultimate goal is for SHI to become a global stable currency that people worldwide can use as both a store of value and a method of payment. In addition to SHI, a broader financial ecosystem is planned, with SHI being added as a weighted pool pair on Curve. In this scenario, Ryoshi anticipates forks of the major DeFi protocols to emerge within the Shiba Inu ecosystem, which would necessitate an immutable bridge for functionality.

The SHIBA INU website indicates that 50% of the total token supply was secured on Uniswap, with the keys being permanently discarded. The remaining 50% was sent to Vitalik Buterin and subsequently "burned." In reaction to this "gift" from the Shiba Inu team, Vitalik Buterin donated 50 trillion SHIB tokens, valued at $1 billion in Shiba Inu at that time, to India's Covid Crypto Relief Fund. Additionally, Buterin destroyed 40% of the total supply by transferring it to an inactive wallet.

According to SHIB's 22-page WoofPaper, Shiba Inu (SHIB) is an ERC-20 token built on Ethereum, a blockchain originally utilizing a proof-of-work consensus mechanism that is presently transitioning to proof-of-stake.

Shiba Inu can be purchased on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2), and OKEx, among other exchanges. To view the live price of Shiba Inu in your preferred fiat currency, you can utilize Eulerpool's converter feature directly on the Shiba Inu currency page. Alternatively, the dedicated exchange rate converter page is also available. Common Shiba Inu price pairs include: SHIB/USD, SHIB/GBP, SHIB/AUD, and SHIB/EUR. For more information on purchasing cryptocurrencies with fiat, refer to Eulerpool's education portal — Alexandria.

In an effort to enhance the utility of SHIB, the development team has introduced a metaverse— a virtual reality initiative driven by non-fungible tokens (NFTs). Within this digital realm, users have the ability to mint parcels of virtual land using either ETH or an equivalent value in SHIB tokens. The team has outlined its objective of creating an engaging, immersive, and interactive environment where users can explore, generate passive income, and gather in-game resources. Notably, the metaverse will enable users to develop and launch their own projects. SHIB: The Metaverse comprises a total of 100,595 plots of land. Of these, 36,431 digital plots were made available on April 13, 2022, coinciding with the launch of the metaverse's introductory phase.