40+ Shiba Inu Statistics You Should Know in 2024

Shiba Inu, a coin that started as a joke online in 2020, has become very popular. Somehow, this meme interested big investors, and its value shot to the moon. Even with all the other coins, the dog-themed token, without any prominent utility, kept increasing in value.

The journey has been rough, not that it's, in any way, easier for other coins, but Shiba Inu (SHIB) has taken in the hardship. Within one month, Memecoin Shiba Inu's price soared by more than 300%, evoking Dogecoin's early 2021 trading frenzy.

Despite the erratic price ups and downs, SHIB hints at a massive recovery ahead. The developer team is on their toes. They want to ensure Shiba Inu gets all the utility it can get. This is a sure way to get the price balling. And everyone hopes Shiba Inu can reach $1 soon. In this article, we want to spill the beans on Shiba Inu statistics, what the SHIB developers have built so far, how it is doing, and how high its price can rise. Let's get started.

Quick Shiba Inu Statistics and Facts

1. In October 2021, Shiba Inu hit its highest price ever. We're talking a peak of $0.00008841 per token. And that hype pushed this meme coin's total value to over $50 billion.
2. But, the table turns too fast. Just about a year later, by November 2022, Shiba Inu crashed. Its total value dropped to a mere $5 billion. This happens as the wider market plummets.
3. The broad digital asset bazaar is oscillating, and many assets have shed their prices. As a result, the market cap of the crypto assets at large lingers around $1.4 trillion.
4. Shiba Inu exists on the Ethereum blockchain, making it stand out from the meme coin market. Nevertheless, others like Dogecoin work with a Proof-of-Work mechanism similar to Bitcoin.
5. There is no endpoint for the number of Shiba Inu to be supplied. So, there are roughly 589.3 trillion SHIB tokens in the market.
6. Shiba's originator, Ryoshi, gifted the lead designer of Ethereum, Vitalik Buterin, with almost half of the SHIB supply. He did it confidently, believing Buterin would help uphold the worth of the meme coin as the years passed.
7. Vitalik Buterin burned ninety percent of his SHIB tokens, strengthening several individuals' confidence in SHIB. Given this fact, it's safe to say that the action also plays a role in the face of the meme token.
8. Buterin used the remaining ten percent of his holdings worth $1 billion to support a Covid-19 Relief Fund outreach in India.

How Shiba Inu Was Born

1. The rise of decentralized finance (DeFi) gave birth to Shiba Inu in 2020. Considering how people found interest in managing their finances without intermediaries, an anonymous team of developers decided to make something valuable out of nothing.

2. The team, Ryoshi, developed a meme token, $SHIB, that works on the Shiba Inu ecosystem. To give value and create an income stream for interested users, the team built the Shiba Inu ecosystem on the Ethereum blockchain using the concept of memes and their viral nature.

3. This way, users can get paid for participating in a few activities within the ecosystem, and by using blockchain technology, they can claim their rewards without intermediaries or any third parties.

4. The name Shiba Inu originates from a Japanese dog, and its meme nature has added to the fame of the project. It's now one of the most traded meme coins in the crypto market.

5. Notably, Ryoshi held no SHIB coins while launching the project, ensuring optimum decentralization. Next, the team commenced an Initial Exchange Offering (IEO) campaign on Uniswap to spread the tokens among interested individuals.

6. To ensure no intermediaries, the developing team put 50% of the token's liquidity to sponsor the IEO. As a result, tons of investors are flooding the project in no time.

7. Since the token is Ethereum-based, its price increase was and remains speculative, and its affordability made it a considerable investment option for crypto enthusiasts.

8. Like other digital assets, Shiba Inu's token has tested the rollercoaster since its birth. Did you know that when it first started to trade in August 2020, it was priced at $0.000000000972? It is worth $0.0000081, according to data provided by one of the trusted crypto analytics platforms, CoinMarketCap.

SHIB Price History Statistics Since Birth

9. The platform also revealed that SHIB reached the barest minimum in September 2020. And that's around $0.00000000008165.

10. In May 2021, the price of the Shiba Inu coin suddenly skyrocketed from essentially nothing to around $0.00003469. Investors were stoked as the meme cryptocurrency shot up.

11. But the celebration didn't last long. According to the volatile crypto market's law of gravity," what goes up can come crashing back down. Within the same month of its peak, Shiba Inu plunged to $0.0000065.

12. Talk about a wild rollercoaster! The unpredictable crypto prices mean coins can spike or sink fast. After its plunge, Shiba Inu eventually rebounded when the market boomed again.

13. However, that surge got cashed in quickly, causing another free fall to around $0.000008. Some folks likely took those chances to grab their profits after the comeback peak.

14. The dramatic ups and downs just continued in the following months. When the overall crypto market rallied later on, Shiba Inu bounced upwards, too. But no one knew how long the coin could defy gravity before its next steep drop. That's just how the rollercoaster ride tends to go!

15. This puppy coin eventually follows the hype. It exploded up over 1100% to a high value of $0.00008845.

16. Sadly, for investors, 2022 maltreated lots of coins as heavy regulations shook things up. Even the Terra ecosystem mess also affected things. Shiba Inu also felt the heat, losing over 75% of its peak value.This shows how sudden hype can lift or hinder a project's growth.

Facts You Didn't Know About Shiba Inu

17. The reason for Shiba Inu's emergence on the Ethereum blockchain is to provide a less ambiguous approach to crypto speculation at an affordable rate.

18. The project boasts a community set to maintain decentralization and transparency within the ecosystem.

19. Shiba Inu regularly burns a certain percentage of its tokens to cut down its supply because there is no limit to the amount that can be supplied to the market.

20. Ethereum's smart contracts allow developers to integrate and run applications within the Shiba Inu ecosystem.

21. The ecosystem comprises products like ShibaSwap 2.0, Shibarium, Shib the Metaverse, Shiboshis, SHibaNet, etc.

22. Shiba Inu (SHIB) is tagged the Doge Killer" because of the direct competition it brings to Dogecoin.

23. Even though its existence in the crypto world was a playful response to the Doge meme, it's showing traits of overtaking the market in no time.

Why Call SHIB The Doge Killer?'

24. Notably, Dogecoin emerged as a parodic joke of the primary crypto token, Bitcoin. While Dogecoin uses a real dog's face to make its identity unique, Shiba Inu imitates this logo style, using the face of a Japanese special breed, Shiba Inu.

25. Shiba Inu's goal is to simplify all the processes so users can engage in the SHIB community with even little money. Investors, no matter their financial levels, own the coins because of their low prices.

26. Moreover, the low price of Shiba Inu is a great advantage that will allow anyone to get a million of the tokens. Also, it allows users to make mouth-watering gains on their investments.

27. The team behind Shiba Inu has put in more innovative products as they vie to increase the ecosystem's input.

28. Due to these changes, the Shiba Inu ecosystem comprises several products. These include Shibarium, ShibaSwap 2.0, ShibaNet, Shib the Metaverse, Shiboshis NFTs, and Shiba Eternity P2E game.

29. Some ecosystem tokens include SHIB, BONE, LEASE, Treat token, and SHI Stablecoin.

30. Further, some measures are being put in place in the SHIB ecosystem that could help to sustain its value as time progresses. One is the SHIB burning process, which takes out a certain percentage of Shiba Inu coins after making transactions.

31. With the commitment of the SHIB Army, Shiba Inu has destroyed more than 410.66 trillion since the inception of the project.

32. While Shiba Inu has up to 589.3 trillion coins in circulation, Dogecoin has about 141.86 billion tokens in its circulating supply. For Bitcoin, the coins are capped at a maximum supply of 21 million.

Major Developments In Shiba Inu Ecosystem

The Shiba Inu team has brought several improvements to the project's ecosystem over the years. The changes moved the token from an ordinary meme coin to a strong crypto asset within the DeFi space. Here are some outstanding inclusions in the SHIB ecosystem:

Shibarium

33. Layer-2 blockchain of the Shiba Inu ecosystem, Shibarium, solves scaling problems. August 16 marked the release of the mainnet, creating excitement among the flux of the SHIB community and other users.

34. Before its mainnet launch, the Shibarium testnet platform, Puppynet, has recorded outstanding milestones in the industry. It had over 17 million wallet addresses and more than 32 million transactions completed on the platform.

35. Shibarium aims to improve scalability and transaction speeds. It will be an attractive edge for the Shiba Inu ecosystem, increasing the user base and community's loyalty.

36. Already, the network has recorded more than 3.98 million transactions and 1.2 million wallet addresses. It parades an average block period of 5 seconds.

ShibaNet

37. This decentralized marketplace has unique features that simplify user engagements. It enables customers to buy, sell, and trade digital assets within the Shiba Inu ecosystem.

38. A marketplace is created to function on the network, ensuring very low gas fees. Additionally, ShibaNet will use SHI as its token to maintain stability in all payment processes.

ShibaSwap 2.0

39. ShibaSwap version 2.0 is the updated exchange that lets people trade different coins. This new decentralized platform is convenient for traders. That's because they can stake tokens and earn sweet rewards.

40. Also, the project will introduce a nice liquidity mining program. Notably, this will come after the launch of this latest version. Above all, this version 2.0 aims to improve trader's experience.

SHI Stablecoin

41. SHI Stablecoin is a new product from the Shiba Inu team. This coin is pegged to the US dollar. This peg will help stabilize the price, but that doesn't stop the coin from being a DeFi coin.

42. The stablecoin is a payment option for transactions in the Shiba platform. Some individuals can also use it as a store of value since it's not volatile like others.

Treat Token

43. Treat tokens come with a new approach for people in the Shiba Inu ecosystem. This TREAT can be used to reward customers as an encouragement. This is indeed an excellent strategy. Additionally, you can use TREAT to provide liquidity for that SHI stablecoin we mentioned earlier.

Conclusion

Shiba Inu is enriched with attractive features that support its sustainability over the years. The project came into the market in August 2020. All of a sudden, the token became the favorite coin among traders. Its value rose two years ago in October to $0.00008845, creating beautiful delight among early buyers. But this excitement didn't last long as SHIB's value went south. However, the token could pick up in the next bull run, most likely due to some of its appealing developments and products in its ecosystem.

Frequently Asked Questions Can Shiba Inu beat Top Dog Dogecoin?

Now, Shiba Inu brings some cool extras. Maybe that's why a lot of people love the coin. The team is working behind the scenes to bring real utility to SHIB lovers. So, Shiba Inu is now far from an internet joke. It's worth more than that. But, even at that, Dogecoin still enjoys huge name recognition as the OG meme coin. While Shiba Inu can only boast a market cap of about $5.11 billion, Dogecoin's valuation is more than $11.51 billion. Hence, DOGE is still the king of memes here, and everyone knows this. Yet, SHIB can get there and probably even surpass DOGE if more fans keep coming in with the new developments.

Does Shiba Inu have any future?

The chances for Shiba Inu to become of more value to investors in the future are high. But not too fast. The team has so much to do for this to happen. If only they could create more attractive products. It's very simple. They must keep creating attractive products and featured impressions, which could draw more people into the community. So, we can boldly say SHIB is on its way to becoming more valuable.

Should I Buy Shiba Inu Coin?

Many of us know that the price of SHIB is below its 2021 high. But despite this decline, all hope is not lost. The ongoing addition of new features in the Shiba Inu ecosystem can turn the tide. If this comes to pass, those optimistic enough to buy the tokens earlier will gain big time. It often rises and falls very quickly. Hence, it is advisable to consider all the risks before investing your money.

ReferencesClick to expand sources

1. Binance
2. CoinMarketCap
3. CoinGecko
4. CoinBase
5. Crypto
6. Coindesk
7. CoinStats
8. Blockworks
9. BitDegree
10. Statista
11. Kraken
12. CoinLore
13. BYBIT
14. ZebPay
15. MarketCapOf

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