The highly popular meme-based cryptocurrency Shiba Inu (SHIB) is celebrating its third birthday today with an impressive return on investment (ROI).
The Shiba Inu cryptocurrency project, rooted in the popular Shiba Inu dog meme, presents itself as a rival to Dogecoin and runs on the Ethereum blockchain. The Shiba Inu (SHIB) ecosystem comprises three unique tokens, each serving a particular purpose within the project.
SHIB, as the main token, acts as a decentralized, community-driven currency that is accessible to millions of users around the world. Having launched on the Ethereum blockchain in late 2020, SHIB has since gained global attention and can be used for payment at various locations, either directly or through intermediary services.
BONE serves as the governance token in the ecosystem, with a total supply of 250 million. BONE enables the Shib Army to participate in decision-making by voting on proposals through the Doggy DAO. Additionally, BONE establishes the groundwork for Shibarium, Shiba Inu’s own Layer 2 network.
The third token, LEASH, has a limited supply of 107,646 and offers exclusive benefits to dedicated supporters of the ecosystem. LEASH holders have experienced advantages such as increased BONE rewards for providing liquidity to ShibaSwap, exclusive rights to mint Shiboshi NFTs, and priority access to land sales within the “SHIB: The Metaverse project.”
From its inception in August 2020, Shiba Inu has transformed from a playful token to a flourishing decentralized ecosystem, boasting an impressive return on investment (ROI) that has turned a mere $100 investment into a staggering $1.6 million.
The token, created by an anonymous developer “Ryoshi” to rival Dogecoin (DOGE), initially minted one quadrillion SHIB tokens. Half of these were sent to Ethereum co-founder Vitalik Buterin’s wallet, which later burned 410 trillion tokens, effectively removing them from circulation. The remaining 50% was locked in a liquidity pool on Uniswap.
Despite market turbulence, the Shiba Inu development team and community have remained committed to expanding the ecosystem, introducing ShibaSwap, a decentralized exchange, and Shiba Eternity, a SHIB-themed card game. The team is also working on several projects to enhance the ecosystem and increase adoption, including Shibarium, a layer-2 solution, SHIB: The Metaverse, a virtual world, and ShibaSwap 2.0, an upgrade to the ShibaSwap platform.
As of now, Shiba Inu is trading for $0.00000823. This figure represents a 1,613,625% increase from its price at launch, which stood at $0.00000000051. At this rate, if an investor had invested $100 in SHIB at launch, the investment would be worth $1.61 million.