What is SHIB

Is SHIB crypto a good investment? What is SHIB crypto used for? Will Shiba coin reach $1?

What is SHIB

What is Shiba SHIB

Tokens that were born thanks to famous memes or pictures of cute animals are not uncommon. There are already Dogecoin, Baby Doge Coin, Kishu Inu on the market. Some of them show dizzying rate jumps and get into the TOPs in terms of capitalization, while others turn out to be a scam and a failure for investors. It plays an important role: does the real utility of the coin lead to an increase in the price, or is it “empty” and takes off only because of the hype, and then falls rapidly. The SHIBA INU Cryptocurrency Review will reveal what is behind the token, whose price has risen by more than 110,000% in less than a year.

History of SHIBA INU (SHIB) Cryptocurrency

The project was launched in August 2020 by an anonymous user under the nickname RYOSHI. It immediately positioned itself as the main competitor of the Dogecoin meme-cryptocurrency.

This is a conscious move to create a fully decentralized system. It will not have a CEO or a technical person who is in charge of everything and creates a roadmap. There is no person who can be held responsible for failure or success. Only the investors themselves are responsible for the investment.

The approach to the distribution of coins was also non-standard:

Although many crypto projects have only talked about decentralization, Shiba Inu has really come close to it more than others.

The startup was helped by an "unknown friend". In a late interview, RYOSHI named him as an influencer in the cryptocurrency industry. Then dozens of conspiracy theories began to appear. The most popular version is that the project is assisted by Vitalik Buterin , the creator of the second most popular ETH coin.

shiba coin

Arguments cited to support the Ethereum CEO being involved in the success of the meme-cryptocurrency:

The CEO of Ethereum did not comment on whether he is that "unknown friend". Rumors and theories have become another factor fueling interest in the project.

RYOSHI and his associates believe this is not the only reason for their popularity. They presented the project ecosystem and its products, proving that their startup and cryptocurrency have real value. For example, 2 more tokens were created: LEASH and BONE. And on July 6, 2021, ShibaSwap, its own decentralized exchange, was launched.

Cryptocurrency Features

According to the anonymous developer, the entire project is an experiment in the decentralized, spontaneous creation of a digital token. Each holder is on a par with the creator. This is rare, because often, even if there are statements about the absence of a management company, the developer studio owns 20-50% of the coins. It is her team that launches most of the validator nodes and makes important development decisions.

In this blockchain startup, everything is built on the community, interaction and initiatives of the participants. The Holders call themselves the Shiba Army (SHIBArmy). And in November 2021, this is one of the most active crypto associations. The number of participants exceeds 585,000. The Twitter account has 1.9 million followers who actively communicate and are united by a common idea.

RYOSHI voiced the rules that were involved in the project and made it unique:

The developers did not create their own blockchain, but used the already existing Ethereum network, as it corresponded to the philosophy of the project. Upon completion of the transition to the updated version of Ethereum 2.0, transactions on the network will become faster and cheaper due to the greater scalability of the blockchain. So, according to the creators, there will be no problems with launching high-performance decentralized DApps.

The ultimate goal is to launch the best decentralized ecosystem (DECO). It already has a DEX called ShibaSwap. According to Raioshi, it should become a top service for decentralized, secure exchange and earnings on ERC-20 standard tokens.

Additional initiatives launched under the project:

What is SHIBA INU cryptocurrency in simple words

The central place is occupied by the DeFi decentralized financial instrument - the ShibaSwap exchange.It does not have a governing body, it gives access to both fast exchange operations and passive income options: providing liquidity, staking.

It is based on 3 native tokens: SHIB, LEASH and BONE . They are issued on the Ethereum network, and their standard is ERC-20. Information about each is presented in the table:

SHIB The “Dogecoin killer” and the most popular coin in the ecosystem. It was his breakneck price spike that caught the attention of investors and crypto experts in 2021. It became the first token on Uniswap, being traded on ETH (thus becoming available to investors) and on the ShibaSwap DEX.
BONE (translated as bone) management token. It will enable
SHIBArmy to vote on all proposals for the future Autonomous Decentralized Organization DAO - Doggy. Its total issue is 250 million.
LEASH (translated as a leash)

At first, it was created solely as an elastic token: the circulating supply can change due to price fluctuations. But then this idea was abandoned. Its release is limited to 107,646 coins. ShibaSwap pays rewards to holders for providing its liquidity.

The main token of the ecosystem was called the “Dogecoin killer” for 2 reasons:


Basic data on the SHIBA INU crypt are presented in the table:

Place in the TOP on CoinMarketCap #11
Capitalization Over $30 billion
All-time high $0.00008845 (Oct 28, 2021)
Lowest price of all time $0.000000000118 (August 27, 2020)

Principle of operation

ShibaSwap operates on the Ethereum blockchain. The principles of its operation are the same as those of other decentralized exchanges. To start trading or passive income through DEX, you need:

  1. Create a MetaMask, WalletConnect or CoinBase Pro crypto wallet. It is necessary for the further purchase, sending or receiving of SHIBA INU, LEASH, BONE cryptocurrencies. Developers recommend using MetaMask. Available versions for PC, smartphone (with iOS, Android).
  2. Transfer to the ETH coin account. They can be bought through the functionality of the wallet or exchange, exchangers. When making a transaction, it is important to use the Ethereum network (ERC-20 standard).
  3. Go to the DEX website and click on the Connect wallet button . Choose the appropriate option.
  4. Account creation is automatic. A list of financial instruments will appear on the opened start page. You need to choose a SWAP exchanger.
  5. Set the swap pair: in the Swap From field - ETH, in the Swap To field - SHIB/LEASH/BONE. In addition to the native coins of the ecosystem, there are over 100 more tokens available. In the settings, you can set 2 additional parameters: “Slippage tolerance” (the operation will be canceled if the price deviates in the negative direction by more than the selected percentage) and “Deadline for the transaction” (the transaction is not executed if it has to wait more than the nth time).

Basic and additional tools available on DEX:

Transaction speed

The system's native tokens operate on the Ethereum blockchain. This means that their speed is the same as on the main network. As of November 2021, Ethereum is still running on the Proof-of-Work (PoW) consensus algorithm and showing a speed of 13 transactions per second (TPS). At the same time, the daily load on the network is 1.355 million operations. This results in users being forced to pay high fees in gas.

But when the transition to Ethereum 2.0 is completed (the network will only work on PoS), the developers promise to increase the speed to 100,000 tx/s. This will be a very high performance that will allow DEX to conduct instant transactions with minimal gas fees.

what is shiba

Distinctive features

Features of the cryptocurrency project:

SHIBA INU Cryptocurrency Technology

The main product created by the army of holders is its own decentralized exchange, which offered a variety of tools for passive income. A unique ecosystem based on 3 ERC-20 tokens was also launched. In addition, a monitoring service has been created. The BONEFOLIO system shows the statistics of all operations, data on the profit received from various sources within the DEX.

Issue of the coin

Initially, RYOSHI issued 1 quadrillion tokens (10 to the 15th power). But since 40% was destroyed by Vitalik Buterin, the total supply in November 2021 was 589,738,956,207,004 coins. The circulating quantity, according to CoinMarketCap, is 549,095,510,000,000 units.

The emission is limited, that is, the creation of new coins is not planned. This is one of the differences between the project and its main competitor Dogecoin.


The native tokens of the system do not have a classic reinforcement in the form of dollar or gold reserves. Because of this, their price is volatile, like most other cryptocurrencies. To prevent depreciation and create prerequisites for growth, the following mechanisms were introduced:

is shib safe


In the review of the SHIBA INU crypto coin from the project team (WoofPaper), the following official purpose of native tokens was indicated:

Like other coins, these can be used by investors and traders.

How to get

You can become a holder and one of the SHIBArmy members in the following ways:


Native tokens, as of November 2021, have been listed on more than 70 trading platforms. Among them are all the top custodial exchanges: Binance, OKEx, Huobi Global. As ERC-20 tokens, they are traded on popular DEXs built on the Ethereum blockchain.


The recommended way is to trade through your own decentralized exchange. To conclude a deal, you need to go to the Swap section. Dozens of ERC-20 tokens can be used to purchase.


Using exchange services, you can buy coins for fiat currencies. Transfer of money from bank cards, electronic wallets, through payment systems is available. Another supported option: buying with popular cryptocurrencies (BTC, ETH, DOT). This method is less secure than transactions through exchanges, and the exchange rate is often less profitable.

Ways to earn money

One of the features of the project is a wide range of instruments for passive profit making through native DEX. You can also participate in programs from centralized exchanges, such as Saving. Holders have access to the classic ways of earning for most cryptocurrencies: investing and trading.

DIG liquidity pools

A way to make money on the internal DEX. Liquidity providers receive commissions from transactions conducted on the exchange, in proportion to their percentage in the pool. Profit can be spent after the withdrawal of all liquidity.

nft buy

To start earning, you need to open the DIG section and click on the Add Liquidity button. In the list that opens, you need to select a pair of tokens and freeze them. The amount should be equal: 50% to 50%. You can create a new pair, if there is no suitable one, through the Create a Pair button.

Staking BURY

Native coins can be frozen to keep the ecosystem functioning. To start staking, you need to go to the Bury section and select a coin. Rates for November 2021:

Diagram explanation:

  1. Staking holders use the BURY tool.
  2. Their coins are blocked and sent to the xSHIB, tBONE or xLEASH pool.
  3. Transaction rewards are added to the pool: 3 BONE mined per block + 0.3% of all transaction fees through the Ethereum network.
  4. You can take profits through the Woof section. After that, the funds received can also be involved in staking. That is, they will not automatically be involved in the passive mining process, as in many other networks.
WOOF Pools

A popular tool for passive income on the internal DEX. Profitable farming rewards the holder for providing liquidity by placing a specific pair of tokens in a pool. Popular options in autumn 2021:

Buying NFTs

The project DEX has a special section with non-fungible tokens. Over 10,000 unique SHIBOSHIS are available to holders. They can be bought with the native coins of the system, and then stored and sold when the value increases, or traded and receive additional profit due to the price difference.

Save option

Centralized exchanges often create a tool with minimal risk - Saving. The profit is small, and the conditions are flexible. For example, the large centralized exchange OKEx offered just 0.11% annualized returns in November 2021.


The price of the coin has already shown impressive rate jumps:

Some crypto experts believe that this is not the limit. And after the inevitable correction, the price will set a historical maximum more than once.


Holders of the main cryptocurrency of the ecosystem have access to spot trading on more than 70 exchanges. Given the high liquidity of tokens, 7 platforms also allow margin transactions: Huobi Global, KuCoin, OKEx and others. This option is suitable for experienced traders, as it is more risky.

Where to buy Shiba Inu cryptocurrency

Important selection criteria:

What affects the rate of cryptocurrency

Situations that led to price spikes:

In addition, the price of a coin is affected by the same factors as other cryptocurrencies: changes in the BTC rate, market sentiment (bullish or bearish), launching new services, tools, and increasing the speed of transactions. The actions of financial regulators are also important.

Where to store SHIBA INU cryptocurrency

shiba army

SHIBArmy in November 2021 has not yet released their own wallet and has not even voiced such plans. But to work in the ecosystem, they recommend using Metamask or WalletConnect, Coinbase.

The Future and Prospects of the Shiba Inu Cryptocurrency

One of the immediately announced features of the project is the absence of a governing body or CEO who would publish a roadmap. Although the original document mentions RuffMap, it only indicates the general direction of development:

In 2021-2023 SHIBArmy plans to complete the transition to decentralized management and provide holders with the functionality for transparent voting on all decisions to change and improve the ecosystem.

Analytics and forecasts

Popular opinions of investors regarding changes in the price of digital currency:

But not everyone is so optimistic. Former CIA officer Edward Snowden does not recommend investing in this cryptocurrency. He only calls it a clone of Dogecoin.