Shiba Inu (SHIB) is a decentralized meme token that was launched in August 2020 by an anonymous entity using the pseudonym Ryoshi. Operating on the Ethereum blockchain, it has become one of the leading dog-themed cryptocurrencies in recent years.
SHIB, the native cryptocurrency of Shiba Inu, is an ERC-20 token. The network employs a Proof-of-Stake (PoS) consensus mechanism for transaction validation. The ‘SHIB Army’ refers to the community of SHIB holders and enthusiasts who actively participate in guiding its development.
Although SHIB is not designed as a conventional currency, it serves as a community token within the Shiba Inu ecosystem, facilitating engagement with various components, including ShibaSwap, a decentralized exchange; a non-fungible token (NFT) marketplace; and Shibarium, its metaverse platform.
