Shiba Inu is a fascinating cryptocurrency that started as a joke and evolved into a multibillion-dollar ecosystem, with a growing number of applications and a loyal user base.
Whether you’re a well-versed crypto investor or just getting started with meme coins, Shiba Inu is an interesting token to keep an eye on, providing a glimpse into the power of community-driven initiatives. It has widely been considered as an alternative to Dogecoin – the original meme coin- and many proponents of the Shiba Inu coin have actually dubbed it previously as the Dogecoin killer. But how did this meme coin succeed in capturing the hearts and wallets of so many crypto enthusiasts? Let’s explore its origins and evolution below.
History of Shiba Inu
Meme coins have their way of capturing investors’ attention and spreading like wildfire due to their unique characteristics. The inception of Dogecoin fueled the rise of many other meme coins, and in August 2020, Ryoshi – an anonymous creator- launched the Shiba Inu coin, looking to build on the success of DOGE. Ryoshi envisioned the meme coin as an experiment in decentralized community building and compared to traditional cryptocurrencies that aim to bring technological innovation, Shiba Inu embraced its identity as a meme coin. 
Like any venture, the token faced skepticism initially, as many considered it nothing more than a meme looking to ride on the coattails of Dogecoin. Yet, Shiba Inu succeeded in proving these people wrong, as its popularity soared rapidly, and what started as a fringe project became one of the most-discussed cryptocurrencies. In fact, in October 2021, Shiba Inu became one of the top digital assets by 24-hour trading volume, and its activity nearly matched that of Ethereum, a milestone that is rather surprising for a meme coin.
What’s behind Shiba Inu’s rise to fame?
Crypto enthusiasts attribute the ascent of the fame of the Shiba Inu coin to the fact that it has embraced the meme culture. Like all the other meme coins, this token has a mascot: the Shiba Inu dog – a Japanese hunting breed. What’s really interesting and unique about this meme coin is that it is 100% run by its community, which calls itself the ShibArmy, and plays a significant role in spreading the word about the token, proposing new ideas, and contributing to the growth of the project. Simply put, Shiba Inu is all about letting the community steer the ship rather than having a big corporation that pulls the strings. It’s a perfect model that fits the decentralized nature of blockchain and promotes collaboration among users within the crypto space.
The major break of Shiba Inu came with different viral moments, with endorsements from influencers and tweets from celebrities, as well as a wave of social media campaigns fueling its popularity. As Shiba Inu gained more and more traction, mainstream media started to take notice, and articles discussed it, which further boosted its reputation. This organic marketing resonated with a tech-savvy and younger audience, helping propel Shiba Inu into the spotlight, and during that time, it experienced massive price surges, appealing to novice and seasoned investors alike.
What makes the Shiba Inu coin valuable?
The Shiba Inu coin is different from other cryptocurrencies because, as mentioned previously, it is run by the Shiba Inu community, which believes in the power of a decentralized system that eliminates the need for centralized authorities. This project started from zero, with no funding and no direct leadership, and has launched a community effort using the Amazon Smile feature to collect and distribute a part of Amazon purchases as donations for the Shiba Inu Rescue Association. Through this philanthropic activity, the community aims to assist these dogs, which can be challenging for new owners who find the dogs intelligent, brave, and stubborn at the same time.
Besides the decentralized nature, Shiba Inu presents other factors that enhance its value. In an attempt to see if the meme coin has true support behind it, its creator locked 50% of the token’s one quadrillion supply and sent the remaining 50% to Vitalik Buterin. The coin’s distribution was created to be accessible and widespread, helping build an engaged and large community of enthusiasts. Moreover, Shiba Inu is more than a coin – it’s an entire ecosystem, with projects such as ShibaSwap showing that it is here to stay.
Is it a good idea to invest in Shiba Inu?
Before the launch of Shibarium, Shiba Inu’s potential investors hesitated to buy the token, as a large community isn’t always enough to drive high returns. After the token launched its blockchain, community members could engage in activities such as buying NFTs, gaming, and participating in DeFi, which made Shiba Inu a better value proposition. But despite its ecosystem development, this meme coin still trails projects such as Solana, which add value to the crypto industry as a whole.
Investing in Shiba Inu is a matter of speculation, so it’s essential to consider this aspect before you make any decision. And as with any crypto investment, you want to be cautious and understand the risks before buying SHIB. Take the time to conduct adequate research and determine the potential gains as well as the losses you could face, and decide for yourself if this is a good investment that fits your overall financial goals. The realm of cryptocurrencies may be exciting, but it’s also unpredictable, so it’s imperative to navigate it carefully and keep a sound judgment at all times.
The bottom line
The journey of Shiba Inu coin has been incredible, with its viral moments, community-driven approach, and ambitious projects helping it make a name for itself in the crypto world. Shiba Inu is more than just a meme coin: it is a testament to the power of innovation and community.
The dedicated community of the project is always working on new developments to ensure Shiba Inu has more use cases and utility in the real world, so its impact on the crypto industry will likely remain a topic of significant interest.