Shiba Inu token (ticker: SHIB) is a

decentralized Decentralization or decentralisation is the process by which the activities of an organization, particularly those related to planning and decision-making, are distributed or delegated away from a central, authoritative location or group and gi ...

cryptocurrency A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership record ...

created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi". It is inspired by the

Shiba Inu The is a breed of hunting dog from Japan. A small-to-medium breed, it is the smallest of the six original dog breeds native to Japan. The Shiba Inu was originally bred for hunting. Its name literally translates to "brushwood dog", as it is us ...

(柴犬), a Japanese dog breed, which also serves as the mascot for

Dogecoin Dogecoin ( or , Abbreviation: DOGE; sign: Ð) is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the t ...

, another cryptocurrency with

meme A meme (; ) is an idea, behavior, or style that Mimesis, spreads by means of imitation from person to person within a culture and often carries symbolic meaning representing a particular phenomenon or theme. A meme acts as a unit for carrying c ...

origins. Some categorize Shiba Inu as a "

meme coin A meme coin (also spelled memecoin) is a cryptocurrency that originated from an internet meme or has some other humorous characteristic. The term is sometimes used interchangeably with the term shitcoin, which typically refers to a cryptocurren ...

." Concerns have been expressed about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by

fear of missing out Fear of missing out (FOMO) is the feeling of apprehension that one is either not in the know about or missing out on information, events, experiences, or life decisions that could make one's life better. FOMO is also associated with a fear of re ...

(FOMO). Shiba Inu was introduced with a branding that positioned it as a potential 'Dogecoin competitor'. On 13 May 2021,

Vitalik Buterin Vitaly Dmitrievich Buterin (; born 31 January 1994), better known as Vitalik Buterin (), is a Canadian computer programmer and co-founder of Ethereum. Buterin became involved with cryptocurrency early in its inception, co-founding ''Bitcoin Ma ...

donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund. Also in May 2021, Buterin donated SHIB worth $665 million to the

Future of Life Institute The Future of Life Institute (FLI) is a nonprofit organization which aims to steer wikt:transformative, transformative technology towards benefiting life and away from large-scale risks, with a focus on existential risk from artificial general ...

, which focuses on regulating

artificial intelligence Artificial intelligence (AI) is the capability of computer, computational systems to perform tasks typically associated with human intelligence, such as learning, reasoning, problem-solving, perception, and decision-making. It is a field of re ...

to protect from

existential risk from advanced artificial intelligence Existential risk from artificial intelligence refers to the idea that substantial progress in artificial general intelligence (AGI) could lead to human extinction or an irreversible global catastrophe. One argument for the importance of this r ...

. In October 2021, the market price of the cryptocurrency experienced a significant rise, reportedly increasing by 240% within a week. However, at the beginning of November, it faced a decline, reportedly losing approximately 55% of its value by the end of the month.

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* {{Authority control Cryptocurrency projects Internet properties established in 2020 Meme coins

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