What is Shiba Inu (SHIB)?

The SHIB coin started as a lighthearted experiment — a meme token created without taking itself too seriously. Inspired by the playful spirit of internet culture, SHIB quickly captured the imagination of crypto enthusiasts. What began as a joke soon exploded into one of the world’s most talked-about cryptocurrencies, growing into a multi-billion-dollar asset with its own decentralized exchange, ecosystem tokens, and even a Layer 2 blockchain. 

 

In this article, we cover how SHIB came to be, its price history and performance, and whether you should invest in it.

 

What is SHIB Coin?

 

SHIB Coin, also known as Shiba Inu (SHIB), is an ERC-20 memecoin launched anonymously by someone or a group using the pseudonym Ryoshi in 2020. It poked fun at the speculative nature of memecoins and the hype surrounding them, especially the older memecoin DOGE, which also takes its likeness from the Shiba Inu Japanese dog breed. 

 

However, it caught on with some cryptocurrency enthusiasts. They saw its potential as a low-priced, high-risk, high-reward investment. Social media fueled the fire, and SHIB's value surprisingly surged in 2021–by over 60,000,000%.

 

(Trivia: In May 2021, Ethereum founder Vitalik Buterin donated 50 trillion SHIB tokens (worth $1.2 billion at the time) to the India Covid Relief Fund.)

 

Where Bitcoin and Ethereum are all about the grand vision of decentralization and the evolution of the traditional financial and monetary system, memecoins like SHIB are on the other end of the serious spectrum. 

 

Who is the SHIB Army？

 

SHIB is currently represented by a group of enthusiasts, known as the “SHIB Army”. However, it’s more than just a crypto community — the SHIB Army is a force to be reckoned with. What they lack in corporate backing, they make up for with passion, persistence, and sheer numbers. In fact, the SHIB Army has often proven to be more powerful than any traditional marketing team, driving viral campaigns, exchange listings, and real-world adoption purely through community-driven momentum.

 

Here's what they've achieved:

 

1. They Built SHIB’s Success from the Ground Up

The SHIB Army isn’t just a fan base — they’ve driven SHIB’s growth entirely through grassroots community efforts. Without any venture capital, celebrity endorsements, or formal marketing budgets at launch, the SHIB Army used social media, memes, and relentless online advocacy to push SHIB into the crypto mainstream.

 

2. One of the Most Active Crypto Communities on Social Media

The SHIB Army dominates platforms like Twitter, Reddit, and Telegram, often trending worldwide during major price surges or community campaigns. Their ability to mobilize quickly around burn events, exchange listings, and charity efforts is legendary.

 

3. They’ve Pushed for Real-World Adoption

The SHIB Army has actively campaigned to get SHIB accepted by merchants and payment providers. Thanks to their persistence, SHIB is now accepted by select online retailers, restaurants, and even some travel platforms via crypto payment processors like NOWPayments and BitPay.

 

4. They Champion Token Burning

The SHIB Army is famous for pushing “burn mechanisms” to reduce SHIB’s massive circulating supply. Community-organized burn parties, SHIB burn playlists, and even burn tracking websites have emerged, all initiated by passionate SHIB holders, not the core developers.

 

5. Strong Support for SHIB’s Ecosystem Expansion

The SHIB Army doesn’t just care about the token price — they’ve embraced the entire Shiba Inu ecosystem, including ShibaSwap (DEX), NFTs, the LEASH and BONE tokens, and the upcoming Shibarium Layer 2. They’ve also supported projects like the Shiba Inu metaverse and decentralized autonomous organization (DAO) governance.

 

6. Community-Led Charitable Initiatives

SHIB Army members have organized charity drives, rescue fundraisers for Shiba Inu dogs, and other social impact projects, turning meme energy into real-world good.

 

SHIB Market Cap and Ranking 2025

 

SHIB all-time price history (Source: CoinMarketCap)

 

SHIB has a market cap of approximately $6.8 billion USD at time of writing on 30 June 2025, based on current pricing and circulating supply. It is currently ranked around #19–#23 among cryptocurrencies by market cap, depending on the platform (CoinGecko ranks it #23, while Changelly and others place it around #19) .

 

What this means:

 

• No longer a top 12 asset: SHIB has moved down from the #11–#12 ranking it held in March 2024 when its market cap was around $16 billion.

 

• Still influential: With a ~$6.8 billion market cap, SHIB is firmly among the top 20 cryptos—a significant status for a token that began as a meme.

 

• Volatile yet resilient: While it has dropped about 50% from its earlier highs, SHIB remains a meaningful player, buoyed by its ecosystem—ShibaSwap, Shibarium, and expanding utility.

 

SHIB Price History & Performance

 

SHIB's performance as an investment has been a rollercoaster ride, typical of memecoins, with periods of explosive growth followed by sharp corrections. Here's a breakdown:

 

Early days (August 2020 - early 2021):

 

SHIB started with almost negligible value, reflecting its joke-like origins. There wasn't much trading activity.

 

The “Dogefather” Effect (Early 2021):

 

In early 2021, Dogecoin (DOGE) surged in popularity after endorsements from Elon Musk and other celebrities. This memecoin frenzy spilled over to SHIB, and its price saw its first significant rise.

 

Going supernova (Late 2021):

 

Later in 2021, SHIB experienced a meteoric rise in price. Hype on social media and growing interest from retail investors fueled this surge. At its peak in October 2021, SHIB's price jumped by over 60,000,000%, a mind-blowing gain for early investors.

 

Reality Check (Late 2021 – 2024)：

 

As with most meme coins, the intense rally couldn’t last forever. SHIB underwent sharp corrections throughout 2022 and 2023, as broader crypto markets cooled and speculative interest subsided. Although the price remained far higher than its launch price, it stayed well below its 2021 peak, fluctuating with typical memecoin volatility.

 

Stabilization and Ecosystem Expansion (2024 – Mid 2025)：

 

Since 2024, SHIB has stabilized at a lower market cap (~$6.8 billion as of mid-2025) but continues to hold a significant place in the crypto landscape. Key developments include:

 

• Launch of Shibarium, a Layer 2 blockchain aiming to lower transaction fees and improve scalability.
• Growth of ShibaSwap and the broader SHIB ecosystem, including BONE, LEASH, and Shiba Inu NFTs.
• Active community-led token burns to reduce supply and support long-term value.

 

While SHIB is no longer in the top 10, it remains a popular trading asset and a symbol of the power of community-driven crypto projects.

 

Is SHIB a Good Investment in 2025?

 

Whether Shiba Inu (SHIB) is a good investment in 2025 depends largely on your risk appetite and investment goals. SHIB remains one of the most recognizable meme coins, but like most cryptocurrencies in this category, it carries high risk and high volatility.

 

At the same time, SHIB, along with other cryptos like Dogecoin, Litecoin, Bitcoin, Ethereum and a few stablecoins, were announced to be accepted as payment by fashion brand Gucci in 2023. With growing adoption comes the growing likelihood of price appreciation. 

 

Risks to Consider

 

• Extreme Volatility: SHIB’s price history shows sharp rallies and deep corrections, which can lead to significant short-term losses.

 

• Speculative Nature: Much of SHIB’s value is still driven by community sentiment and social media trends rather than fundamental utility.

 

• Competition: SHIB faces increasing competition from other meme coins and emerging projects with more robust technology and use cases.

 

In Conclusion

 

SHIB in 2025 is best suited for speculative traders and investors who understand the risks of meme coins. It may not be the best choice for those seeking long-term, stable growth, but it remains an interesting asset for those looking to diversify into high-risk, high-reward tokens.

 

So, if you decide to invest in SHIB, it’s crucial to:

 

• Do your own research (DYOR)

 

• Invest only what you can afford to lose

 

• Consider SHIB as a small part of a diversified crypto portfolio

 

Frequently Asked Questions

 

What is SHIB Coin used for?

 

SHIB Coin can be used for:

 

• Payments: Some merchants and platforms accept SHIB as a payment method.

 

• Staking: Users can stake SHIB on ShibaSwap to earn rewards.

 

• Liquidity Provision: SHIB holders can provide liquidity on ShibaSwap.

 

• NFTs and Shibarium: SHIB is part of the Shiba Inu ecosystem, which includes NFTs and the upcoming Shibarium Layer 2 blockchain.

 

Can I use SHIB Coin for everyday purchases?

 

Yes, but it’s limited. Some crypto payment processors like NOWPayments allow merchants to accept SHIB, but it’s not widely used in mainstream retail yet.

 

How can I buy SHIB Coin?

 

You can buy SHIB Coin on most major reputable crypto exchanges, including CoinW. It’s usually traded in pairs like SHIB/USDT, SHIB/ETH, or SHIB/BTC.

 

What is the difference between SHIB, BONE, and LEASH?

 

These are three tokens in the Shiba Inu ecosystem:

 

• SHIB: The core token, mainly used for trading and staking.

 

• BONE: The governance token, used for voting on proposals in the ecosystem.

 

• LEASH: A limited-supply token offering exclusive benefits to holders.