Shiba Inu / SHIB (Meme Coin)

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Part of a series on Meme Coins. [View Related Entries]

About

Shiba Inu or $SHIB is an Ethereum-based meme coin and cryptocurrency inspired by the Shiba Inu breed of dogs and their virality on the internet. Launched in mid-August 2020 by an anonymous founder known as "Ryoshi," the coin was added to Binance in May 2021, and its U.S. platform added Shiba Inu in November of that year. The coin, which is also called the "Dogecoin Killer" by some, operates on the Ethereum blockchain and ranks in the top 50 cryptocurrencies by market capitalization as of late 2024. The cryptocurrency's holders have actively used the dog breed related to the eponymous meme to promote the coin on social media over the years, giving it a notable online presence among the many different forms of crypto.

History

Shiba Inu ($SHIB) was launched on August 15th, 2020, by an anonymous founder known as 'Ryoshi'.^[1] According to the Coin Market Cap^[2] site, the cryptocurrency has seen a growth of 11430362.4% since its inception on November 28th, 2020, and is also known as the Dogecoin killer, being widely considered an alternative to the Dogecoin meme coin.

On October 30th, 2021, the YouTube^[11] channel Whiteboard Crypto posted an animated video explaining the origins of the Shiba Inu meme coin (seen below), which received over 621,000 views and 18,000 likes in three years.

Market Performance

The Shiba Inu coin has an all-time high (ATH) of $0.00008616, recorded on October 27th, 2021, according to the Bybite^[3] site, and the coin's market cap peaked^[4] at $39 billion, as Yahoo! Finance^[5] reported on November 1st, 2021, making it the 13th cryptocurrency by market capitalization.^[6]

Shiba Inu coin's social media activity is mainly represented by the coin's official X,^[7] Telegram^[8] and Discord^[9] accounts, which, as of October 2024, had accumulated more than 3.8 million, 27,000 and 14,000 followers, respectively.

There are also numerous subreddits dedicated to the meme coin, including /r/SHIBArmy,^[14] /r/Shibainucoin^[15] and /r/shib,^[16] which have garnered over 520,000 members, 158,000 members and 86,000 members, respectively, as of late October 2024.

All of the official channels of the cryptocurrency and its holders actively share several memes promoting the coin. For example, on October 21st, 2024, @Shibtoken^[10] posted a version of the Tuxedo Winnie the Pooh meme, with an overlay text mentioning the $SHIB. The tweet (seen below) garnered roughly 1,900 likes and 279 reposts in three days.

Many members of SHIB's community, who refer to themselves as the "SHIB Army" or "SHIBArmy," have created and posted songs related to the meme coin over the years. For example, on May 12th, 2021, YouTuber^[12] Cryptoestigma uploaded a song about the crypto that included numerous meme clips, receiving over 104,000 views and 2,500 likes in three years.

On June 8th, 2021, YouTuber^[13] SHIBA INU MUSIC uploaded the "Shiba Inu Song" under the title "SHIBARMY – shiba inu (to the moon)" for the meme coin, receiving over 62,000 views, 1,800 likes and 80 comments in three years (shown below).

Shiba Inu

Shiba Inu, commonly known online as Shibes, is a breed of dog native to Japan. Online, the breed grew in popularity thanks to the Doge meme, which features a Shiba Inu dog looking at the camera.