Shiba Inu (SHIB) is the world’s second-largest meme token by market cap and traces its origins as a Dogecoin killer. Taking on the leading memecoin in the crypto market, Shiba Inu was initially started as a joke but has since evolved into a serious project aiming for true decentralization and becoming 100% community owned.
Since its inception, the meme token and the Shiba ecosystem have garnered a huge fan following and a loyal community called the Shib Army. The mascot of the cryptocurrency of the Shiba Inu dog has been favored and tweeted about by prominent celebrities, further heightening its popularity.
Crypto investors who bought into SHIB at the time of launch at an extremely low price made immense profits, further driving more traders to add SHIB to their portfolios. Apart from its highly engaged community, the Shiba Inu coin is also a very popular cryptocurrency to invest in among new entrants into the market, owing to its low price.
The SHIB token is especially popular in emerging markets, as it is one of the most affordable among the top cryptocurrencies by market cap. As of March 2023, SHIB ranks 14 in market cap among digital assets.
Since its launch and stellar rise in the charts, Shiba Inu has evolved beyond being a joke-based cryptocurrency, having its own decentralized exchange ShibaSwap. In addition, the SHIB community actively supports social causes, has its incubator program to foster creativity, and plans to enter the lucrative arena of blockchain gaming and the metaverse.