Last Updated June 8th 2022
12 Min Read

It’s probably fair to say that Shiba Inu has been one of cryptocurrency’s most unlikely success stories. Launched in August 2020, It started out as little more than a copycat of the world’s biggest meme coin, DOGE, but has since blossomed into a complete DeFi ecosystem that has attracted much attention in recent months. 

But meme tokens are notoriously volatile and investors are understandably wary when it comes to putting their money into such projects. So how does Shiba Inu hold up as a potential investment opportunity? In the following article, we’ll be explaining some of the features of this dog-themed project and comparing it to some of the other meme coins out there. Our aim is to provide you with a solid overview of the project, so you can decide for yourself whether it fits with your investment strategy. 


What Is Shiba Inu?

Shiba Inu was set up as a self-confessed ‘Dogecoin Killer’. Its remit was clear–to become the world’s most popular meme coin. It adopted the now-infamous Japanese dog breed of the same name as its mascot and set out to build a strong online following. The project was launched by an anonymous consortium called Ryoshi and its objectives were set out in its ‘woof paper’ back in 2020. 

Despite being something of a joke when it launched, it seems Ryoishi weren’t content for their project to be dismissed as yet another meme coin. Shiba Inu is an ERC-20 token, so right off the bat it has a huge amount of interoperability and is compatible with many of the world’s leading DeFi projects. 

Shiba Inu may have started life as a Dogecoin wannabe, but it has to be said that it is now a much more complete project than its predecessor. SHIB retains all of the features of a meme coin, but it is now backed by a much wider ecosystem that includes various yield farming protocols, a proprietary decentralised exchange and even an NFT artist accelerator program. 

Shiba Inu: Key Facts

  • Launched in 2020 as a self-styled Dogecoin Killer
  • Built on the Ethereum blockchain
  • Now offers host of DeFi services
  • The second most popular meme coin

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

A Closer Look At The Shiba Inu Project

Shiba Inu started out as a fairly simple Dogecoin clone but since its launch in 2020, the project has grown into a pretty impressive DeFi ecosystem. There are actually now three tokens making up the wider Shiba Inu project:

Shiba Inu (SHIB)

Where it all started. A decentralised meme token built on Ethereum. The initial supply of SHIB stood at 1 quadrillion, before half was locked into Uniswap to create liquidity and the other half was doled out to Ethereum founder Vitalik Buterin. Buterin promptly gave some 50 trillion SHIB to a coronavirus relief fund before burning his remaining tokens, which equated to around 40% of the total SHIB supply.  

Leash (LEASH) 

Leash was the second token launched by the Shiba Inu project and was originally intended as a rebase token that was created to help the Shiba Inu ecosystem grow in new directions. However, the rebase aspect has been done away with, which Shiba Inu claims will “unlock its full potential”. There is a total supply of just 107,646 tokens, so its at the opposite end of the supply scale compared to SHIB.  

Bone (BONE) 

Lastly, there’s the BONE which was created to serve as the governance token of the Shiba Inu project, which means holders can vote on propals on the “Doggy DAO”. With a total supply of 250,000,000 tokens, Bone sits between LEASH and SHIB.

Check Out: 7 Facts About Shiba Inu That Will Surprise You

What Else Does The Shiba Inu Project Offer?

Shiba Inu has proven itself to be a pretty innovative project, branching out into the latest trends and sub-industries of the wider blockchain world. The current Shiba Inu ecosystem also includes:


Shiba Inu’s proprietary decentralised exchange. Speaking in its native canine parlance, ShibaSwap allows users to DIG (provide liquidity in exchange for rewards), FETCH (exchange one token for another), and  BURY (stake tokens) - all in return for WOOF Returns. The exchange also provides additional tools to help investors manage and track their portfolios. 

Shiba Inu Incubator

The Shiba Inu project has signalled its commitment to digital artists with its accelerator program. According to the website, it was set up to help digital artists make the most of blockchain technology. There isn’t much information on how the Shiba Inu Incubator actually does this, but it is certainly an interesting avenue for a crypto project to be exploring. 


Shiba Inu is also branching out and getting involved with the surging NFT trend with its collection of tokens called Shiboshis. These are a collection of 10,000 unique digital assets to be bought, sold, exchanged and collected. Shiboshis first launched late in 2021 and have already proven extremely popular. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Meme Coins - Here To Stay Or Just A Trend?

Shiba Inu belongs to a particular group of cryptocurrencies known as meme coins. There’s no set definition for exactly what a meme coin should be, but they all share certain features. Firstly, meme coins have a more lighthearted appeal than many mainstream cryptocurrencies. Often they feature cartoon mascots and in many cases that mascot is the Japanese Shiba Inu dog breed – which was the subject of a popular internet meme back when Dogecoin came into being.

Another important aspect of meme tokens is the emphasis they place on building online communities. Both Shiba Inu and Dogecoin experienced significant price runs in 2021 and in almost every case the instigating factor was community dialogue in forums such as Reddit and Quora. 

One thing investors should also note is that meme coins are notoriously volatile. Without any real-world use case as such–at least not compared to some of the leading smart chains–there is very little to stabilise the price and, in addition, online communities have a tendency to be a little capricious. As such, the price of Shiba Inu has been known to fluctuate fairly wildly. 

There are numerous meme coins on the market now, but it's safe to say that Dogecoin remains the most well known and valuable, with Shiba Inu a close second. Common sense suggests that as more meme coins are launched, competition will increase. However, SHIB has already built up significant momentum and is unlikely to be overtaken by another meme coin any time soon. 


How To Buy Shiba Inu

Shiba Inu is a hugely popular token that’s listed on most major exchanges, so if you’re looking to invest in the token, you’ll have plenty of options. To buy SHIB, you’ll need to take the following steps.

  • You need a wallet that will allow you to store your SHIB tokens. In other words, a wallet that supports ERC-20 tokens. MetaMask is amongst the most popular. 
  • Make sure you have Ether in your wallet – either bought from an exchange or from another wallet you may have. 
  • Connect your wallet to ShibaSwap – the Shiba Inu exchange. 
  • You can now exchange your Ethereum for Shiba Inu

The above steps will also work if you plan to acquire BONE or LEASH. However, if you are looking exclusively for SHIB, you can also buy it directly from major exchanges and brokers, such as eToro. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Shiba Inu In 2022

Shiba Inu’s biggest success to date came towards the end of 2021, when the token surged from $0.000007 to $0.000086 in a matter of weeks–not huge numbers but nonetheless representing growth of over 1100%. However, this record high wasn’t held long and by January 2022, SHIB was trading at $0.000033. By the end of the month, it had dropped to $0.000022, before an uptick took it back to $0.000032 in February.

Despite its price surge in February, Shiba Inu has been on a more or less downwards trend throughout 2022. However, this isn’t necessarily a reflection on the token itself–the whole cryptocurrency market has been in protracted slump. At the time of writing, SHIB was trading at $0.000010.


Is Shiba Inu A Good Investment?

Shiba Inu has a very low token price and this can often be a motivating factor for investors. Of course, returns are measured in percentage but the fact that users can enter the Shiba Inu ecosystem with such a low entry point is definitely a plus. However, given the token’s volatility, we need to consider whether it is a worthwhile investment.

When it comes to price predictions, many platforms believe SHIB will grow in value in the coming years, though it could be a long wait before it reaches its previous all-time high. DigitalCoinPrice, for example, has predicted that the token could hit $0.000024 in 2025, but it will be 2029 before the token breaks new ground. Elsewhere, WalletInvestor’s technical analysis suggests that SHIB could reach $0.000036 by the time 2023 arrives, with the token growing to $0.000058 by 2024, which would equate to growth of 480% on its price at the time of writing. 

Investors will need to be aware that, regardless of price predictions, SHIB is likely to continue to see significant volatility due to its reliance on an online following. New meme coins entering the market, celebrity endorsements and general market forces can all have a significant impact on its price and are all somewhat hard to foresee. 

Realistically, Shiba Inu is a great project and has a lot of potential, but it should be seen as a risky investment–even by cryptocurrency standards. It has the potential to offer big returns for those who time things right, but investors should include it as part of a strategy that includes adequate diversification. 

Don't Miss: Shiba Inu Price Predictions

Shiba Inu In The News

Shiba Inu has garnered a huge following online, its official subreddit currently boasting around 475,000 members. However, recently it appears to be attracting the attention of ETH Whales. “BlueWhale0073”, for example, has recently acquired 142.6 billion SHIB tokens for $1,539,417. Meanwhile, WhaleStats Tweeted:

“The top 500 ETH whales are holding $903,803,795 FTX Token, $629,675,496 SHIB, $256,638,364 BEST, $165,493,872 CHSB, $133,388,304 MXC, $124,763,282 MANA, $212,151,355 LINK and $105,266,592 LOCUS.”

Exactly why whale investors have suddenly turned to SHIB remains unclear, but it is certainly a positive sign for the so-called Dogecoin Killer. 

Interstingly, despite SHIB recently dropping in price, it seems that more and more crypto holders are buying the coin, with an estimated 30,000 new SHIB holders reported in May 2022 alone. 

It has been speculated that this renewed interest in Shiba Inu could be linked to lead developer Shytoshi Kusama’s recent announcement that the project will soon be making an announcement that will “floor everyone”. It has been confirmed that entertainment industry big-hitter Marcie Jastrow has joined its metaverse team and will be working on the project, called “Shib: The Metaverse.”

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.


Shiba Inu started life as a Dogecoin clone, but it could be said at this point that it has surpassed its predecessor. Whereas DOGE trades on popularity alone, the growing Shiba Inu ecosystem brings a whole lot more to the table–including its NFTs, its own DeX and potentially its own metaverse in the near future. It's hard not to be impressed by just how much progress Shiba Inu has made since launching in summer 2020. 

So Shiba Inu, despite being a bona fide meme coin, has some pretty solid features that could genuinely see it establish itself as one of the major crypto projects. Admittedly, it can’t offer anything that any other Ethereum-based project can, but this is where having a strong online community could really be beneficial. 

The Shiba Inu price predictions we have seen certainly suggest that SHIB could see upwards movement in the near future and the fact that several prominent investors having been adding the token to their portfolios recently is another promising sign. 

If you’re looking to invest in a cryptocurrency project that is making waves, has a solid plan for its future and already has a pretty impressive following, then Shiba Inu is definitely worthy of consideration. However, just remember that meme tokens are highly volatile and the token has not got the same appeal as many other top-tier tokens when it comes to real-world use cases. 

Open an account with eToro, deposit some funds with USD, and finally – buy Shiba Inu from just $10.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Shiba Inu FAQ

Are meme coins risky?

Meme coins are just like any other cryptocurrency, aside from the fact that they generally have lighthearted branding and, in the case of Dogecoin, were based on actual memes–hence the name. Historically, these tokens have been fairly risky due to their volatility, which is largely down to the fact that they rely on online communities to drive their prices up. 

Is Shiba Inu legit?

Shiba Inu has been accused of being a simple Dogecoin clone, attempting to ride on the coattails of the original meme coin. However, Shiba Inu now offers a complete DeFi and NFT ecosystem, with many more intriguing developments said to be in the pipeline. 

Is Shiba Inu better than Dogecoin?

Dogecoin was the original meme coin, launched way back in 2013. By contrast, Shiba Inu is much newer, launching in August 2020. However, whilst Dogecoin exists in more or less exactly the same form as it always has, Shiba Inu has expanded to include an entire DeFi ecosystem, with additional tokens in its stable as well as a new NFT collection. DOGE remains the more valuable and well-known token, but we could see SHIB overtaking its predecessor in the coming years. 

Should I invest in Shiba Inu?

Shiba Inu has many intriguing features and seems to be succeeding against early expectations that expected it to fizzle out. The project has adapted by expanding its offering and continues to innovate new features. That being said, it is still a high-risk investment and we suggest any investors that are considering buying SHIB should do their own research and consider how the token could fit into a wider investment strategy. 

Is Shiba Inu built on Ethereum?

Shiba Inu is an ERC-20 token, which means it is built on the Ethereum blockchain. This is one of the reasons that, compared to Dogecoin, Shiba Inu has been able to continually expand its project and enter into new crypto sub-sectors, such as DeFi, NFTs and, potentially, metaverse. 

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