Shiba Inu crypto, traded under the ticker SHIB, is an ERC-20 token on Ethereum that began as a meme token and grew into an ecosystem with its own Layer 2 network, decentralized exchange and governance structure. The token was launched in August 2020 with a total supply of one quadrillion tokens.
As of the CoinStats snapshot, SHIB trades at $0.000004701 with a market cap of $2.77B, ranked #47. The 24h change is -2.19%, and the token trades 94.54% below its all-time high of $0.00008616.
Core technology and blockchain architecture
SHIB is not a standalone blockchain. It relies on Ethereum for security and settlement, so transfers and balances are recorded on Ethereum and the token works with standard Ethereum wallets and exchanges.
The ecosystem's main network is Shibarium, a proof-of-stake Layer 2 built on Ethereum. The official documentation describes a Heimdall validator layer, a Bor block-producer layer, and checkpoints relayed to Ethereum. Shibarium mainnet launched on 16 August 2023. Its native gas and staking token is BONE, and its bridges use Plasma contracts and a proof-of-stake bridge.
The ecosystem also includes LEASH and TREAT, along with ShibaSwap, Shib Name Service, Shib DAO and Shib: The Metaverse.
Primary use cases and real-world applications
SHIB is used mainly for trading, transfers and tipping, and it is supported across major wallets and exchanges. Within the ecosystem, holders can use it in several ways:
- ShibaSwap: The decentralized exchange offers a classic AMM with a 0.3% fee and a v2 version built as a Uniswap v3 fork with concentrated liquidity.
- Bury 2.0: A vote-escrow staking platform accepting SHIB, TREAT, LEASH and BONE, with lock periods from one week to four years. The documentation lists it as in beta.
- Shib DAO: On-chain governance in which BONE, LEASH, TREAT and SHIB holdings determine participation, with BONE carrying the highest voting weight.
Who is behind Shiba Inu and where is it based?
SHIB was created by a pseudonymous founder known as Ryoshi. Most sources date the launch to August 2020. Ryoshi deleted all tweets and blog posts in May 2022, and no source identifies a real person behind the name.
Shytoshi Kusama, also a pseudonym, became the lead developer and public spokesperson in later phases. On 26 January 2025, Kusama announced stepping down as lead visionary and taking the role of Lead Ambassador. A June 2026 report said Kusama had been inactive since 13 May 2026. Kaal Dhairya is identified as a core developer and author of official blog posts. Sources do not disclose Dhairya's real identity or location.
No source confirms the country where the core team operates. No source confirms a registered foundation or company for SHIB itself, and 1inch states, "There is no company behind SHIB." One affiliated firm, Shiba Inu Mint S.A., completed a $12 million token sale in April 2024 for a privacy-focused blockchain, and CoinDesk describes it as incorporated in Panama.
Tokenomics
SHIB's total supply is 589,495,715,255,346 tokens, and its circulating supply is 589,238,257,046,160 tokens. The token launched with one quadrillion tokens, with half placed into a Uniswap liquidity position whose keys were destroyed and half sent to Ethereum co-founder Vitalik Buterin. In May 2021, Buterin burned about 410 trillion SHIB, roughly 41% of supply.
SHIB has no issuance model, so supply can only fall. Burns are ongoing. Shibburn data reported 588,207,327 SHIB burned in August 2026, with the monthly burn rate down 6.14%. ShibTorch, an automated burn portal on Shibarium, converts BONE from transaction base fees into SHIB and burns it. Daily burn totals vary widely, and a single day's burn can move total supply only marginally.
Consensus mechanism and network security model
SHIB itself has no consensus mechanism. Its transactions are finalized by Ethereum's consensus. Shibarium uses proof-of-stake. Validators lock BONE to run nodes and are paid in BONE. The 2023 launch coverage stated that the validator set was capped at 100 slots and that validators must stake at least 10,000 BONE.
Shibarium's security was tested on 12 September 2025, when an attacker used a flash loan to acquire 4.6 million BONE from ShibaSwap, delegated them to a validator, and gained control of 10 of 12 validator signing keys. Reported losses ranged from $2.4 million to $4.1 million across sources. The team paused staking and froze several functions.
Key partnerships and ecosystem integrations
SHIB is available across Ethereum wallets, centralized and decentralized exchanges, and NFT and DeFi platforms that support ERC-20 assets. The project's token page lists 14 supported chains for ecosystem tokens. On 4 October 2026, CoinMarketCap AI reported that SHIB became natively available on Solana through the Sunrise bridge.
Competitive advantages and unique value proposition
SHIB's main advantages are brand recognition, deep exchange liquidity and Ethereum compatibility. The official documentation positions Shibarium around low gas fees and fast transactions. Blockworks records 1,685,242 holders as of 2 September 2026.
The project's distinguishing feature is an attempt to pair meme-token popularity with infrastructure, DeFi and governance products, rather than relying on social momentum alone.
Current development activity and roadmap highlights
A Shibarium reorganization on 19 September 2026 was reported as resolved, with the network migrating to a more decentralized RPC infrastructure. As of late September 2026, the Shibarium explorer was reported to be 53% reindexed. Validator staking was listed as under maintenance since 17 April 2026, with no end date. CoinMarketCap AI lists a Shibarium privacy upgrade based on fully homomorphic encryption for Q4 2026. This is a roadmap item and has not been confirmed as delivered.