What is Shiba Inu (Shib)?

Definition: Shiba Inu (or SHIB) is a token designed to be an Ethereum-compatible alternative to Dogecoin (DOGE). Like DOGE, SHIB is intentionally abundant — with an initial circulating supply of one quadrillion coins. The Shiba Inu ecosystem also supports projects such as an NFT art incubator and a decentralized exchange called Shibaswap.

Is Shiba Inu a clone coin?

However, what this also did is propel a lot of clone coins, most of which are heavily inspired by DOGE. Shiba Inu (SHIB), despite its claims of being something different – is an obvious example. Dogecoin carries the logo of the Shiba Inu dog breed, while SHIB uses it directly.

How much Shiba Inu is in circulation?

As of October 2022, the circulating supply of Shiba Inu is around 549 trillion SHIB. At launch, 50% of the total supply of SHIB was locked on Uniswap, and the other 50% was sent to a crypto address belonging to Vitalik Buterin, an Ethereum co-founder.

What is the market cap of Shib?

As of October 10 of this year, the price of SHIB is around $0.000011. With a supply of around 549 trillion SHIB, the market capitalization is near $5.9 billion, while the fully diluted market capitalization is around $6.4 billion. This market cap places SHIB at number 14 in the crypto market cap ranks.