The Shiba Inu (SHIBUSD) cryptocurrency features the Shiba Inu as its mascot, a Japanese hunting dog breed. Dogecoin critics refer to Shiba Inu as “the Dogecoin killer,” but enthusiasts tout it as an alternative to Dogecoin. A meme coin is a cryptocurrency associated with a theme, such as the dog in the case of Shiba Inu or Dogecoin, but rather than an actual digital product that has some use; they are often launched as a parody or inside joke.
Ryoshi, an anonymous individual or group, created the cryptocurrency in August 2020, while Dogecoins appeared in December 2013.
In November 2021, one SHIB coin traded for less than $0.00005, which equals about 200 coins. The total market capitalization of all coins was over $26 billion in September 2021, despite the small price, because there were approximately 549 trillion SHIB coins in circulation, according to CoinMarketCap. The value of Shiba Inu coins spiked dramatically when the crypto was added to the Coinbase platform in September 2021.