Shiba Inu is a decentralized cryptocurrency that was created as a parody of Dogecoin. Shiba Inu has no developer fees and is completely community-driven. The project's vision is to create a fun and friendly decentralized currency that can reach a wider audience than other cryptos The Shiba Inu project was created by an anonymous developer (or group of developers) who goes by the name Ryoshi.
The currency was launched in August 2020. The token is based on the Ethereum blockchain and uses the ERC-20 standard. Shiba Inu has a circulating supply of almost 600,000,000,000,000 SHIB tokens and no max supply. The crypto has been endorsed by some notable figures in the crypto community including Elon Musk and Vitalik Buterin.
Shiba Inu has been criticized for being a copycat project of another meme-based cryptocurrency called Dogecoin (DOGE). However, supporters of SHIB argue that it has unique features such as its large supply and lack of max supply which make it different from DOGE.