- Shiba Inu is popularly known as the ‘Dogecoin Killer’ coin that was released in 2020.
- Coin was founded by an anonymous person known as Ryoshi as an ERC-20 token.
The popular ‘Dogecoin Killer’ meme coin led the internet by storm when it was first released. Elon Musk’s interest resulted in significant increases in the popularity of the coin. Ever wondered how the coin originated and what tragic event shaped how meme coins are viewed?
Let’s understand!
Understanding Shiba Inu Coin
Initially, Shiba Inu Coin started as an ERC-20 token on the Ethereum Network. Later, the coin gained popularity and was named the Shiba Inu Coin. The coin started in 2020 as a lighthearted meme coin. Now, it has been almost three years, and the coin still exists and has a market evaluation in billions.
Who Invented The Shiba Inu Coin?
Shiba Inu Coin was founded in 2020 by an anonymous person named Ryoshi. There is no specific information regarding the founder. The only information available about Shiba Inu Coin is that it started as an Ethereum token.
Primarily, the founder’s goal was to develop a currency that was regulated by the community. He even stated, “I am nobody and I am not important,” implying the purpose behind the coin.
The coin is created for fun in abundance. Currently, there are 589.3 trillion Shiba with a price evaluation of $0.0000007 each. The entire market capitalization of Shiba Inu is $4.6 Billion.
The Brief History Of Shiba Inu Coin
- Origin: August 2020
Royshi, an anonymous creator, launched the coin with USD 3000 in liquidity. The coin was built as a social experiment. During this time, the supply of Shiba was around a quadrillion tokens. Out of these, half of these tokens were sent to Vitalik Buterin, the founder of Ethereum.
- May 2021: Vitalik Response
To protect the Ethereum network, Vitalik burned and disposed of half of the Shiba coins. He removed the coins from the network and even removed the circulating supply of tokens. The discarded coins were billions of dollars.
- May 2021: Ryoshi’s Departure
After a year of creating a Shiba Coin Ryoshi disappeared from the internet, leaving no traces of his existence. However, within a year, Shiba’s community had grown significantly. Therefore, the coin emerged again and now it is regulated by the Shiba Army.
The disappearance of the Ryoshi made the coin community-driven. Later, Shytoshi Kusama took over the leadership role.
Here, the catastrophic history of the Shiba coin ends. After this event, several updates were launched and several other interesting features were launched as well. Let’s explore recent updates!
Shiba Updates
Here are all the Shiba’s updates:
- ShibaSwap (July 2021)
- Shiboshi (October 2021)
- DoggyDAO (2022)
- Robinhood (April 2022)
- Shibarium PuppyNet (March 2023)
- Shibarium (August 2023)
Conclusion
Shiba Inu surged back in 2020 when Elon Musk tweeted about the coin. From there, the popularity and market capitalization of Shiba Inu skyrocketed. Even today, the Shiba Inu has a significant place in the market.
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