Shiba Inu , also known informally as Shiba Token, is a decentralized cryptocurrency created in August 2020 by an anonymous person or persons known as “Ryoshi”. Shiba Inu is an ERC-20 token on the Ethereum blockchain, and is based on Dogecoin; it brands itself “the Dogecoin killer”. Shiba Inu does not have any smart contract utility, nor is it backed by any asset or rights; it is simply a transferable token.
Shiba Inu (柴犬) is a Japanese term for a breed of dog; it is the dog that is depicted in Dogecoin’s symbol, which itself was originally a joke cryptocurrency based on the Doge meme.
Shiba Inu was created in August 2020, modeled off Dogecoin, another cryptocurrency, by the anonymous founder known as “Ryoshi”. On 13 May, Vitalik Buterin donated more than 50 trillion SHIB (worth over $1 billion at the time) to the India COVID-Crypto Relief Fund.