Shiba Inu (SHIB) is an Ethereum-based token, or ERC-20, inspired by the dog breed with the same name and created in August 2020 by a mysterious person publicly known as Ryoshi.
The asset is considered a meme coin since, like Dogecoin, the emblem Japanese breed dog of Shiba Inu ignited a nonstopping trend of memes. SHIB was designed to introduce a cryptocurrency run entirely by its community. SHIB’s initial supply was 1 quadrillion units.
Not long after the introduction of the altcoin, Ryoshi locked half of that in Uniswap and gave the other half of that total supply to one of Ethereum's cofounders, Vitalik Buterin. Buterin burned 90% of those SHIB and gave the remaining 10% to charity.
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