Shiba INU (SHIB) Cryptocurrency Overview

Shiba INU (SHIB) is a decentralized cryptocurrency token launched in 2020, built on the Ethereum blockchain and categorized as a meme coin. The project was created as an alternative to Dogecoin, aiming to foster a large community around decentralized finance (DeFi), NFTs, and smart contracts.

Known as the "Dogecoin Killer," Shiba INU's mission is to provide an accessible and fun entry into crypto, while developing its own ecosystem, including the ShibaSwap DEX, NFT collections, and various DeFi utilities.

SHIB transactions are fully transparent and can be tracked thanks to Ethereum's public blockchain. To view any transaction, use Etherscan.io and search by wallet address or transaction hash.

Shiba INU is an ERC-20 token, which ensures compatibility with the entire Ethereum ecosystem and access to a wide range of decentralized applications.

SHIB can be stored on most major crypto exchanges like Binance, KuCoin, OKX, and Bitfinex. For maximum security, use cold wallets such as Ledger or Trezor, which support all ERC-20 tokens.

To set up a cold wallet:

• Buy a hardware wallet (Ledger/Trezor)
• Install the official software
• Create a new wallet and save your seed phrase securely
• Transfer SHIB from the exchange to your wallet address

Software wallets (MetaMask, Trust Wallet) are also available, but hardware wallets provide the highest level of protection.

After its launch in 2020, SHIB's price remained low until it skyrocketed in 2021 due to meme coin hype and celebrity endorsements. Shiba INU is consistently ranked among the top 20 cryptocurrencies by market cap, but it is highly volatile.

Example:

• Peak market cap: $40 billion (2021)
• Volatility is higher than Bitcoin, Ethereum, or Litecoin.

You can track SHIB price and capitalization on CoinMarketCap or CoinGecko.

SHIB's primary network is Ethereum, but it is also accessible on the BNB Chain (Binance Smart Chain) via token bridges. Within the Ethereum ecosystem, SHIB coexists with assets such as DAI, Tether, Uniswap, Wrapped, and Polygon.

Example assets on these networks:

• Ethereum: DAI, USDT, 0x, Polygon
• BNB Chain: Pancake, Binance Coin

This provides SHIB with wide interoperability for trading, staking, and DeFi operations.

To send SHIB, you need an ERC-20 compatible wallet and enough ETH to pay for gas. The average transaction cost for sending SHIB ranges from $1 to $10, depending on Ethereum network congestion—higher than Tron or Solana, but lower than Bitcoin during peak times.

Steps to send SHIB:

1. Enter the recipient's address
2. Specify the amount of SHIB
3. Confirm the transaction and pay gas in ETH

Shiba INU stands out for its vibrant community, unique ecosystem (ShibaSwap, Shiboshi NFTs, dog rescue fund), and extremely low token price, allowing users to own millions of tokens with minimal investment.

Unlike Bitcoin or Monero, Shiba INU is focused on mass adoption, DeFi services, and NFT integration, making it attractive to newcomers in the crypto market.