What exactly is a Shiba Inu, and why is it so popular in the crypto currency world?

On the Ethereum network, there is a meme coin known as the “Dogecoin killer”.

Author

The Renegades
June 29, 2025

Shiba Inu refers to two separate but connected concepts: a dog breed and a cryptocurrency.

Shiba Inu Dog:

The Shiba Inu is a Japanese breed of tiny to medium-sized dog. It is distinctive in appearance, with a curled tail, erect ears, and a fox-like face. Shiba Inus are recognized for being lively, independent, and sometimes aloof. They are frequently described as faithful to their owners, yet they can also be reserved towards strangers.

Several factors contributed to the popularity of the Shiba Inu dog breed:

  1. Appearance: Shiba Inus are cute and have a unique look that attracts dog lovers.

  2. Size: They are a small to medium-sized breed, making them suitable for people with limited living space.

  3. Independence: Shiba Inus are known for their independence, which appeals to people who appreciate dogs that are not overly needy.

  4. Memes and Internet Culture: The Shiba Inu became an internet sensation due to various memes and viral videos, further increasing its popularity.

Shiba Inu Cryptocurrency (SHIB):

Shiba Inu is also the name of a cryptocurrency coin, typically abbreviated as “SHIB.” It is part of the meme coin frenzy that swept the cryptocurrency industry in 2021. SHIB was conceived as an experiment and called after the Shiba Inu dog breed due to its affinity with internet culture and memes.

SHIB gained popularity for several reasons:

SHIB marketed itself as a “Dogecoin killer” and embraced meme coin culture, which appealed to internet-savvy investors and traders.

Community & Hype: It attracted a fervent online community that actively promoted and traded SHIB, leading to its meteoric growth in value.

Listing on Major Exchanges: SHIB was listed on numerous major cryptocurrency exchanges, allowing it to reach a wider audience.

InMay 2021, Ethereum co-founder Vitalik Buterin launched a large-scale burn of Shiba Inu (SHIB) tokens. This is also known as the “Shiba Inu token burn” or “Shiba Inu donation.” Here’s how it went down:

  1. Unwanted Token Transfers: It all started when the Shiba Inu community chose to transmit a significant number of SHIB tokens to Vitalik Buterin’s wallet without his permission. This was done as a marketing ploy to get people interested in the project.

  2. Vitalik’s Response: Rather of keeping or returning the tokens, Vitalik Buterin chose an alternative path. He stated that he would not keep such a big number of SHIB tokens and would instead donate them to charity.

  3. Vitalik began by burning a huge number of the SHIB tokens, thus eliminating them from circulation. He also contributed a large number of SHIB tokens to various philanthropic organizations. Donations included funding for COVID-19 relief operations in India as well as contributions to the Ethereum Foundation.

  4. Transparency: Vitalik was open about his actions, sharing transaction information on social media sites to demonstrate that he had burnt and donated the tokens as promised.

This decision by Vitalik Buterin had a significant impact on the value of the SHIB token as well as the broader cryptocurrency community. It demonstrated the power and influence of prominent figures in the bitcoin sector, as well as the significance of transparency and good financial management in the cryptocurrency ecosystem.

Photo by Tech Daily on Unsplash

It’s crucial to remember that the Shiba Inu cryptocurrency is very speculative and volatile, and its popularity is mostly fueled by rumor and social media trends. Investing in cryptocurrencies, particularly meme coins, entails substantial risks, and prospective investors should proceed with care and comprehensive research before entering the cryptocurrency market. Furthermore, digital currencies trends might shift quickly.

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